Auto Fraud Tricks Negative Equity OverAllowance
Negative Equity/Over-Allowance arises in a transaction that includes a trade-in vehicle. Generally, the customer is led to believe that the dealership is valuing the trade-in vehicle at the same amount that’s owed (so that the customer doesn’t appear to owe anything on the trade-in). In reality, however, the actual cash value given by the dealership is less than the amount owed, and the difference is added to the cash price of the vehicle being purchased. If this is done it is illegal, even if the customer knows and agrees to it.
Auto Fraud Tricks Negative Equity OverAllowance
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