Some Tips on Dealing with Auto Fraud
The auto industry and car dealers are prevalent with scams. If you are a potential car buyer you need to be armed with the knowledge of how these scams and auto fraud work and how to avoid the most common car dealer scams. Though there are many dealers in the industry that run reputable businesses and can get buyers into a vehicle without using fraudulent means, there are always dealerships out there that are looking for ways to scam their consumers. Many of these scam artists do their business at the state of California, particularly in San Diego and Los Angeles. Smaller states such as Oklahoma also have their share of fraud cases and dealer fraud attorneys there are as busy as lawyers in the larger California market. If you are lucky enough, you wonât be a victim of one of these disreputable dealers, but it is wise to be aware of potential scams before going to the dealership lot. Use the following simple tips on dealing with auto fraud.
Most of the victims of fraud at dealerships are people with bad credit. The reason for this is often the fact that these people believe they cannot get financing. The worst offenses usually occur in the finance office, where the potential buyer often lets their guard down. A good way to avoid the chance of being scammed is to go to the dealer with no trade and to have your financing done through your bank, with a bank draft in hand.
One of the most common frauds committed is the advertising fee scam. Dealers slip into the contract an advertising fee. Frequently the advertising fee is on the factory invoice. However, dealers add in a second advertising âfeeâ which becomes pure profit for them. You can avoid this fraud by simply asking the car dealer to take it off the contract. Always have the dealer show you the invoice if they tell you that the factory doesnât charge them an advertising fee. If there is no fee on the invoice, which is unlikely, it is okay for the dealer to charge between 1% and 3% of the Manufacturerâs Suggested Retail Price or MSRP for an advertising fee. If it does not appear on the invoice, then the fee is completely negotiable. If it does appear on the invoice, then that is a case of dealer cost and is not negotiable.
If you believe you are the victim of auto fraud you should immediately contact a dealer fraud lawyer and learn what your options and rights are. If you have a good case, a lawyer will have no problem presenting your grievance to the court.
Some Tips on Dealing with Auto Fraud
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