In this podcast we explain how scammers have used ghost cars, rogue dealers and fake finance applications to take the industry for more than £10m.
In this special Car Dealer Podcast episode, James Baggott speak to finance brokers hit by the scam, including DSG’s Rob Woollen and Octane Finance’s Daniel Horner, who reveal exactly how the con works and find out why it’s been so hard to stop.
This is not a victimless crime. Dealers have lost their businesses, brokers have taken huge financial hits, and even genuine customers have been caught up in the chaos.
In this episode, you’ll hear:
– How ‘ghost car’ fraud actually works
– Why real customers are being used in the scam
– The role of rogue (and sometimes unwitting) dealers
– How criminals are exploiting the finance system
– The scale of the losses — and why it could keep growing
– What dealers MUST do to protect themselves
The Metropolitan Police has confirmed this is an active investigation — and this could be one of the biggest frauds the motor finance industry has ever seen. Join us as we explain how it works.