One of the most common types of auto fraud is the practice of listing a higher price on the contract than the number negotiated. This practice is most often used at non-English speaking customers and is better known as bait-and-switch tactic. The dealer trick can be applied to the vehicle’s price, the price of accessories, service contracts, and any other cost item.
Confusing customers about the “out the door price” may be another variation on this practice. This happens when the dealer makes customers believe that the total cost to drive the car off the lot is X, however in fact the total cost of the vehicle is much more. For example, the price quoted may not include accessories, taxes and other payments.
You can avoid this car fraud if you carefully read the contract before signing. Pay attention to the following:
(1) Cash Price Vehicle - this includes only the price of the car excluded all the other costs,
(2) Cash Price Accessories- includes any add-ons,
(3) Total Cash Price – includes the price, the add-ons, taxes and service contracts,
(4) Subtotal – includes everything under Total Cash Price plus any government fees; and
(5) Amount Financed – the amount of credit that you are taking out.
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