Defer Car Payment


Deferred Payment: Car Loan Scam – How It Works

Beware of one scary trick that some questionable car dealers pull occasionally: the Defer Car Payment Scam. Let’s see. You come across an advertisement that says the car dealership down the street has a “No payments for 12 months” promo. Your income is a little unpredictable right now, but you have a few prospects so it would be perfect. You pick up the beautiful vehicle, drive test it, sign the papers and off you go. 

After a few weeks, you receive a letter from the dealership saying the first payment is due. Calling immediately to dispute the letter, they say the promotion was only available for the week previous. You recheck the ad and there are no dates, so there is no way of holding them to it.

Watch the video below to see more scams pulled by dealers and things to check for when buying a car:


Buying A Car From A Dealership Scams Video


Defer Car Payment Scam: How To Avoid

Indeed, there are legitimate “specials” like this in several dealerships, but be aware of the shady ones. Always ask the dealership to add in the contract “No payments due until…” Verbal agreements for any postponed payments are not enough.

deferred payment car loan


Defer Car Payment Scam: How To Report

Make your family and friends aware of the Defer Car Payment Scam by sharing it on social media. You can also officially report the questionable auto dealerships to the Federal Trade Commission using the link below:

Report To The FTC Here


How To Protect Yourself More

If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You’ll receive periodic emails – we promise not to spam. Meanwhile, educate yourself with some other fraud-related articles right under this paragraph, so you can protect yourself in many other aspects and niches. Last but not least, use the Comments section below to expose other scammers.

Here are some must-reads for the end:

Forced Credit Application At Dealership Scam

Yo-Yo Scam

Trade-in Foursquare Trick

Dealership Forced Warranty Scam

Financing Credit Score Scam

Factory Holdback Scam

Dealership Add-ons Scam

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selma hrynchuk
Selma HrynchukSelma is a fraud prevention specialist renowned for her expertise in private eye investigations and a remarkable partnership with law enforcement agencies. Beyond her investigative triumphs, her public speaking engagements and written works have empowered countless individuals to protect themselves and stay ahead of deceptive schemes. Selma's legacy shines as a tenacious agent of change, unyielding in her commitment to battling fraud and ensuring a safer world for all.

1 thought on “Defer Car Payment”

  1. Following up of the Facebook promotion for winners on the 3oth May 2014 from the email of Mr, Claus Wiltod Consultant for the promotion and Mrs, Isabel Austen, Says I’m one of the winner of the promotion for $615,000 plus and I would like Claus wiltod and Isabel to contact me on the phone: +6777626438 to explain the situation of the winner on the promotion.
    Thank you for help
    Frank Sari

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