This fraud occurs in a transaction that includes a trade-in vehicle when more is owed on the trade-in vehicle than the actual cash value of the vehicle. Car dealer makes the customer believe that the dealership is valuing the trade-in vehicle at the amount owed and makes sure the customer won’t owe anything on the trade-in. However, later the customer finds out that the value the dealership paid for the trade-in is less than the amount owed. The difference is added to the cash price of the new vehicle, which is called the capitalization costs of a leased vehicle. Thus, by inflating the cash price or cap costs of the vehicle, the customer is illegally paying more in sales tax and registration.
Keep in mind that the dealership may also be violating the laws related to selling a vehicle for the advertised price. According to the law the dealership may not sell the vehicle for more than advertised price. A similar illegal practice may occur when a lease balance is paid off. The above mentioned practices are still illegal and constitute dealer fraud even when the customer is told what is happening.
OFFICE ADDRESS
The Law Offices of Hovanes Margarian
13425 Ventura Blvd.
Suite 303
Sherman Oaks
CA 91423
818.990.0418
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