Jan 12 2009
Dealer Fraud: The Payoff Your Loan Scam
This scam happens when the car dealer offers to pay off your current car loan no matter how much money you still owe. This sounds like by purchasing a new car you will automatically owe no more money for your old car. However this is far from reality.
In reality the car dealer does help you get out of your current contract. However, what he doesn’t tell you is you how high your fees you will be responsible to pay when you break your lease agreement with the old dealership. And these fees are to be paid before you are able to finance your new car.
The best way to avoid this scam is to pay your current lease until the end.
I am looking to get in touch with someone regarding a scam that involves forging my signature at a local dealership any ideas where to start?
You have found the right place to start - we handle these types of cases. If we can prove the signature was forged then we can undo the transaction. Give me a call to discuss details. I usually do not charge the client since I recover fees from the dealership who committed the fraud/forgery.
- Hovanes Margarian, esq.
Call me at 818.990.0418. or 818.397.9624