Scammers target booming car leasing sector on social media
Scammers are cashing on the boom in car leasing offering dud deals on social media.
The British Vehicle Rental and Leasing Association (BVRLA) has warned that scammers are advertising bogus vehicle leasing deals on social media.
Using social media advertising, including Instagram, the scammers are posing as BVRLA members to lure in customers with advertising headlines targeting those with poor credit ratings.
The BVRLA is urging the public to exercise vigilance and think twice before responding to any adverts that promote vehicle leasing deals that require ‘No credit checks’, promote ‘No deposit’ and ask people to ‘Direct Message’ via text to get the deal.
BVRLA Chief Executive, Gerry Keaney said: “These criminals are purposely targeting the vulnerable, scamming money from people who can least afford to lose it. It’s deplorable. Their adverts can appear very convincing with some even posing as BVRLA members and citing membership numbers of legitimate members.
“We want to get the message out there that all legitimate leasing brokers adhere to Financial Conduct Authority rules and will carry out credit and affordability checks. Those who don’t, will not be legitimate traders and could be out to scam you.”
The BVRLA has reported this emerging threat to the authorities and will continue to explore ways of increasing awareness to protect customers and BVRLA members.
Customers who want to check whether a leasing broker is a genuine BVRLA member are advised to contact the BVRLA directly.
News Source: MotorTrader.com