Extended Warranty Call
How the scam works:
(with video below) Buying a car is an investment that almost everyone makes at some point in their life. But keeping that car safe and running well can be expensive. Having a service warranty is a great way to defray the cost of automobile ownership. The key is to make sure the warranty you're purchasing is valid.
A new scam on the horizon is the extended warranty scam. How does it work?
Watch the video below to see the Extended Warranty Call scam exposed:
This is a telemarketing scheme where the scammers contact car owners by phone offering extended service warranties. They will often make their targets feel unnecessary pressure to purchase a policy that, if it's worth anything at all, doesn't begin to cover all of the repairs they imply that it does.
Once the target has been pressured into giving their credit card information in order to "process the down payment," the scammer disappears.
How to avoid:
First and most importantly, never give your credit card information to any telemarketer. The odds of the legitimacy of the services they are selling are not good. Next, be sure to ask for specific details of the coverage.
If the company is a valid one, they will be forthcoming with this information. Lastly, ask to see all of the information in writing, then tell them that once you've looked over the written material you will make a decision. By taking these simple precautions you're protecting yourself and your hard-earned cash.
How to report:
Make your family and friends aware of this scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below: