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Do your research to avoid leasing scams, businesses told

Date: 22 October 2018   |   Author: Sean Keywood

Companies should take care by looking into who is behind online car leasing deals to avoid being caught out by scammers. 

That's according to Tom Preston, managing director of Hippo Leasing.

He warns that businesses could become targets of fraudulent car leasing deals, and should take steps to protect themselves, with one of his tips being to look into the background of online offers.

Preston said: "Scammers have recently been targeting businesses by paying for advertising on social media apps like Instagram. The dodgy accounts ask potential victims to direct message them to take out a policy.

"If you see an advert online, always search for the company's website and contact details yourself to check it's legit.

"You can also find out if a leasing broker is genuine by contacting the British Vehicle Rental and Leasing Association." 

According to Preston, another key tip is not to bow to pressure from a salesman.

"A common tactic by scammers is to pressure you into making a quick decision to bypass your rational thought process," he said. 

"An honest car leasing salesman will always provide you with all the information you need and gives you the time and space to make an informed decision. 

"Anyone who tries to rush you should not be trusted; after all, signing any contract is a big decision."

Preston also warns that firms should beware of deals that seem too good to be true, and of being bombarded with jargon, adding: "Any product worth paying attention to can be explained in simple terms." 

If a business does come across a scam, or fall victim to one, Preston advises them to report it to the police or Action Fraud so action can be