Tips to Avoid Vehicle Lease Scams
If you decided to enter into a vehicle lease deal and want to avoid common lease scams, here are a few tips to help you:
1. The most important thing to keep in mind when you lease a car is that with a lease, you are not buying the car, but are renting it, for a longer period of time. The consumer should know that very often there may be hidden fees at lease end and the leasing may cost you more than buying. There are hidden fees for excess mileage and wear and tear to the vehicle.
2. Most consumers find out at the end of the lease that it is much more expensive than it seemed in the beginning. The consumer is, in fact, buying nothing other than the use of the vehicle for a period of time within certain mileage limits. Also, at the end of the lease end you will not have any ownership interest in the vehicle as well as any trade-in vehicle. Sometimes car dealers tell consumers that they will be able to purchase a car at lease end and receive credit. However, this is simply not true
3. If you have any outstanding obligation on the lease at the end of the agreement, then these are often rolled into your next vehicle purchase or lease. Always carefully read your lease agreement to get a fair deal on your next purchase or lease.
4. The best thing to do to avoid dealer lease scams and tricks is to first take the lease or purchase contract home and read each line thoroughly. Discuss it with somebody well aware of car leasing. If you feel unsure about any point in the contract then simply walk away from the deal.
If you think that your car dealer cheated you on your lease contract contact an attorney specializing in fraud cases to help you resolve the situation.