What's with the scam about company buying your car loan and leasing the car back to you?

[TommyVercetti]

Is there such a scam? I was on a newsgroup, and someone posted a job positing for "Loan officers for a fast growing company". People starting flaming that poster for posting spam and saying that it is scam. The scam is that the loan officer cold calls people and offers to buy their car loan and lease the car back to them. What kind of a scam is this?

 

[Koing]

Fvck knows.

New to me.

They give you a lower rate or something so you save some money and they make some money?

Koing