Car Subleasing Scam
Car Subleasing Scam bilked $2.2 million from victims in Santa Clara according to the California Department of Motor Vehicles.
Heres’s how the scam works; the owner of the car dealer would tell you yes I can lease you this BMW with $5,000 down payment and $738 per month.
In reality this car was already leased and the victim was actually subleasing the car. So BMW financial sent the victim an email that the car they leased was an illegal sublease.
So BMW repoed the car and the victim is out $5,000 down payment and the monthly payments he made.
Every lease has a residual value at the end of the lease that gives you the option to buy the car so this option was removed as a result of the car subleasing scam.
If you want to read the full story visit , mercurynews.com/valley/ci_12157851
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