How the scam works:
A car dealer might say he is doing you a favor. Instead of having you pay the one-time fees while closing a deal, he will authorize for you to pay them over the life of the lease.
If you agree to this, your $600 deposit could be $1,200 by the end of the amortization, because of interest rates.
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
How to avoid:
Try to find a way to pay the small fees the first time…unless you don't mind paying double.
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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.
