When a potential consumer walks into a car dealership, he/she most likely knows whether he/she wishes to lease a vehicle or purchase it outright. Leasing a vehicle typically means that the individual is using it for a certain period of time, usually two years, and later, once the time limit is up, returns the vehicle to the dealer. When an individual purchases a vehicle, he/she will pay for the car on a monthly basis usually and after making all the payments will become the owner of the vehicle outright.
However, in some cases when an individual wants to buy a vehicle he/she discovers that the price initially quoted during the car selection process are for leasing a vehicle and different numbers are indicated in the paperwork. Which is even worse, some individuals sign the paperwork without thoroughly reading the contract and later find out that they have just signed leasing documents as opposed to purchase documents. This is simply a scam perpetrated by the dealership.
The best way to avoid becoming a victim of this type of dealership scam is to thoroughly read all documents before signing. Always make sure that the documents are purchase documents or if you are leasing make sure you’re signing a lease agreement.
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