Please be aware of this scam going around in OC and LA area by this individual Reichl Caragao AKA Rich Caragao. This is how he operates his big scam: He has focused on people wanting to get out of their lease or purchase contract to take over their luxury or exotic vehicle payments. He will make a few payments to the owner and then he will stop making payments and end up keeping the cars.
He will then rent or sell your vehicle as rent to own charging large amounts for down payment and monthly payment and keeping all the money. He typically advertises in craigslist making it very appealing to the public stating no credit no problem, approval guaranteed. He also advertises on Instagram and Facebook using the name Traction Motorsports, CarsNchronos1 and takeoverpayment1 where again, he makes it so appealing to victims no credit no problem.
He will sell you the car as a rent to own and ask for a large down payment and allow you to make a few payments before he takes the car away from you for no reason and then start all over again with another victim and so on.
He will present you with a fake contract already signed by the car owner stating that the owner can no longer afford the payment and wants to sell the car.
Richard Caragao Reviews
Please be aware of this scam going around in OC and LA area by this individual Reichl Caragao AKA Rich Caragao. This is how he operates his big scam: He has focused on people wanting to get out of their lease or purchase contract to take over their luxury or exotic vehicle payments. He will make a few payments to the owner and then he will stop making payments and end up keeping the cars.
He will then rent or sell your vehicle as rent to own charging large amounts for down payment and monthly payment and keeping all the money. He typically advertises in craigslist making it very appealing to the public stating no credit no problem, approval guaranteed. He also advertises on Instagram and Facebook using the name Traction Motorsports, CarsNchronos1 and takeoverpayment1 where again, he makes it so appealing to victims no credit no problem.
He will sell you the car as a rent to own and ask for a large down payment and allow you to make a few payments before he takes the car away from you for no reason and then start all over again with another victim and so on.
He will present you with a fake contract already signed by the car owner stating that the owner can no longer afford the payment and wants to sell the car.
Arrested
He was arrested the other day