How to Avoid Auto Dealer Fraud
Be careful not to become victim of dealer fraud by a car dealership. This is something that happens more than you think it does. You must make yourself aware of the common dealer tricks and tactics used for this purpose. The dealer sometimes will scam you into paying more than the car is worth. These types of scams happen almost every day at some dealerships.
Dealers like you to think they want you to get the best deal, but they are more concerned with their bottom line than with how much extra they can get out of you. You need to be especially careful of extras that you may not need. Your dealer might recommend a windshield etching to deter thieves from steeling your car. You do not need to pay their price, when you can get it for only $25 are so online.
Do not take them up on any loan guarantee offer, there will be big penalties to pay to the dealer if you can not pay your loan, also your credit score will suffer.
Also they love to get you into the scam of affordable payment. It does not matter how much the carās cost is and how many fees they add, as long as you can make a certain monthly payment, this is just a way to confuse you on what you are actually paying over the entire loan. They love to add these fees into what they call dealer prep cost, oh you can pay an extra $1,800, you already have agreed to $28,000. It is important that this charge be negotiated and that you know what the price is before you sign anything.
Remember that you are the one that should decide whether an extended warranty is for you or not. Also be careful about the APR game, they call you the next day and say that you were not approved, but they have another lender that will approve you, but they donāt tell you the rate has just gone up. It is a good idea to have your financing in place ahead of time.
How to Avoid Auto Dealer Fraud
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