Trade-in Never Paid

How the scam works:

You decide to buy a new car although you still have payments left on your old one. Normally, in this situation the dealer will offer a buy-out amount and pay the existing loan off for you – transferring that amount towards the new car.

Unfortunately, there are times when the bank will call you a few months later because the dealership never paid the old loan. This is a horrible scam, since the loan at the bank is in your name, not in the dealer’s.

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


Buying A Car From A Dealership Scams Video

How to avoid:

These scams happen because the victims focus on what car they are getting for the trade-in (along with all the new features) and they never request an additional contract, in which the dealer signs to pay off the loan in a certain amount of time.

Get a signed contract – you may still have to take him to court but at least you will have proof.

Verify a website below

Are you just about to make a purchase online? See if the website is legit with our validator:


loding img
Searching: Domain age, Alexa rank, HTTPS valid, Blacklisting, SSL certificates, Source code, Location, IP address, WOT Trustworthiness, Spam reports, Advanced technology, Privacy Policy, Terms of Use, Contact options
identity theft protection


1. Top 5 Amazon Scams in 2024
2. Top 5 PayPal Scams in 2024
3. How To Spot a Scam Email in 2024
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.

Leave a Comment

Your email address will not be published. Required fields are marked *