Monthly Archives: January 2009

This scam happens when the car dealer offers to pay off your current car loan no matter how much money you still owe. This sounds like by purchasing a new car you will automatically owe no more money for your old car. However this is far from reality. In reality the car dealer does help you get out of your current contract. However, what he doesn’t tell you is you how high your fees you will be responsible to pay when you break your lease agreement with the old dealership. And these fees are to be paid before you are able to finance your new car. The best way …

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Nowadays the auto industry and car dealers are common with scams and car fraud. If you are a potential buyer you should be armed with the knowledge about these scams, how these scams work and most important how to avoid them. Of course, there are many reputable dealers that don’t use any fraudulent means. However there are also many dealer fraud cases. This is the reason why you better be aware of most common dealer scams and ways to deal with auto fraud before you buy a car. One of the most common auto dealer frauds is the advertising fee scam. This happens when the dealer adds in an …

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Buying a new or used car is not always that easy. You should be aware of scam dealers who are trying to get that deal from you no matter how much it costs. If you are not careful enough you may end up with a piece of junk. It is one of the most common dealer tricks to convince you to buy the car today, especially if he is trying to force you into buying a lemon or a car previously involved in an accident. He may trick you by telling that you better sign papers right away as they hold the car just for you. These types of …

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According to some statistics 2.5 million cars are wrecked annually. One million of these vehicles end up back on the road again. Reading this article you can find several very useful tips on how to buy a used car and avoid most common dealer frauds. Always use Vehicle History Reports to negotiate a lower price, check salvaged, wrecked and odometer fraud cars. Print out questions for you to ask the dealer. If you are buying a used car, make sure to get an AutoCheck Vehicle History Report on the Vehicle Identification Number (VIN). Also have a mechanic inspect the car on a lift. Your mechanic can put the car …

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Car-leasing is considered to be  more attractive than buying. However, you should be aware that leasing regulation does not require as much disclosure as buying a vehicle. This has given rise to many car leasing scams that makes customer  believe they are into a good deal when, in fact, that’s not true. Here are some of the most common scams and how to avoid them. 1. Artificially low interest rates Some dealers use to quote a lower interest rate. However, in reality it’s much higher. Dealers do this by either purposefully quoting the money factor as the interest rate or calculating the loan without amortizing some closing fees, like …

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Car dealer fraud has become very common recently. Here are some ways to avoid becoming a victim of car dealer fraud, look out for the following auto financing scams. Yoyo scam First, the dealer will let you take the car home as soon as possible  promising to take care of the financing. However, a few days later the dealer will contact you and tell you that there was a problem with your financing plan. He will tell you to set up a new financing plan through him that, for sure, will be at a higher cost. Be aware of this dealer trick and be prepared to avoid it when …

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