Monthly Archives: January 2010

Buying a new car is like buying anything else on the market, only a little more stressful.  Stressful because car dealers are trained not to take “no” for an answer, and many word games and phrases come into play to help them to get you to close the deal. So you can be easily led to think that you are getting a good deal, when in fact you could be getting a bad deal.  This is their job; they improve their craft all day from 9:00 to 5:00. The new car sale price trick isn’t usually included in the list of the ‘official’ car dealer scams, but it’s worth …

Read more Comments

1

Many of the car dealer scams one encounters when buying a new car are nearly the same. Here are some great tips for avoiding car refinance scams. •    Order your own credit score and take it with you to the dealership. •    Never make a cash deposit for your financing loan because if the deal goes bad, you can’t get your deposit back. •    Don’t apply for a car loan until you have been employed for at least 6 months if you are a recent college graduate. •    Apply for your loan online to avoid getting ripped off. •    Learn to fix your credit before applying for a loan. …

Read more Comments

0

A salvage vehicle is any motor vehicle which has been wrecked, destroyed or damaged to the extent that it is declared a total loss by the insurance company or, in the event an insurance company is not involved in the settlement of the claim, sustains damage in an amount exceeding 75% of its actual retail cash value. There are some steps you may take to protect yourself from buying salvaged vehicles that have extensive water damage. Many people may not realize they have bought a flooded car until they take it to an insurance company. They then find out that their agent cannot even issue them an insurance rate …

Read more Comments

0

Buying a used car is always the best option for customers who can’t afford a new car. Used car dealerships are the most convenient places for finding used cars at a discounted and moderate price. The pre-owned cars are usually sold through independent dealers, franchises, rental car companies, auctions, private sales and leasing companies. Buying used cars is most popular in California. The comparatively low price and the opportunity to save a rather big amount of money attacks a lot of car buyers. However, buying a used car may sometimes be complicated. Used cars may have hidden mechanical problems, in some cases they may have been previously wrecked and …

Read more Comments

0

Generally customers need some knowledge to avoid becoming a dealer fraud victim. They need to know how to act and what to ask dealers when entering the car dealership. Here are some tips that will be rather helpful when dealing with car dealers to prevent odometer fraud. 1.    Inspect the vehicle carefully to make sure that its actual condition matches the mileage that is indicated in the odometer. 2.    If you think the vehicle you are going to buy has been repainted, search for the parts that have been replaced. Paint is sometimes used to cover the older parts, thus giving the vehicle a newer look. 3.    Look in …

Read more Comments

1

The Market Adjustment Fee The car dealer tells you that your car is a really popular vehicle, and to sell it to you they have to add “Market Adjustment Fees” of several thousand dollars. This amount is normally indicated on an orange sticker next to manufacturer’s MSRP sticker. A car may be popular, but if it is in stock, it is not worth paying extra for it. Many buyers, particularly trade-in buyers, have been ripped off before. They focus only on what they get for their old car, and so they don’t see the big picture. They may get an extra few thousand dollars for their car, but they …

Read more Comments

2

Purchasing a pre-owned vehicle may be a difficult task, especially if you do not know which used cars to avoid. There are certain steps that consumers should know to avoid becoming a car dealer fraud victim. Step 1 Check Consumer Reports before purchasing any vehicle. Consumer Reports contains valuable information on the reliability of new and used cars. They contain evaluations from both the car experts and everyday drivers. Search by the vehicles’ year, make and model. Read each evaluation carefully and check the used car’s overall rating. Step 2 Go to a private party or dealership and test drive the vehicle. If you are not sure what to …

Read more Comments

2

Below is a brief summary of negotiation strategies and tips for ensuring you get the best car for your money and avoid becoming a victim of dealer fraud. Take Your Chances Negotiating with a car dealer is far easier than most people believe. Contrary to popular opinion, if you disagree with the dealer on the price, you will not be thrown out of the dealership. The salesman is almost never authorized to agree on a final purchase price anyway, so you should not hesitate sending him to a manager to ask for a lower price. Come Prepared Conduct some research to find the fairest price for your target car. …

Read more Comments

3

Odometer fraud is the practice of rolling back odometers to make it appear that vehicles have lower mileage than they actually do. Odometer tampering is not only illegal, but expensive. Because the buyer thinks the car has fewer miles, he/she pays more for the car – and more in insurance and repairs. Things You’ll Need: •    Compare the current mileage on the odometer with mileage shown on the vehicle’s maintenance or inspection records. •    Check the tires. The car’s original tires should last for some 60,000 miles, so new tires on a car with low mileage should alert you to take a closer look. •    Look for things that …

Read more Comments

34

Car dealer scams vary and being aware of them becomes more and more important. Awareness may save you a lot of trouble and money. So make sure that you have done your homework accurately enough and are ready to enter the car dealership without the potential threat of becoming a car dealer fraud victim. Below are some useful questions to ask a used car dealer: If the car is certified, can you show me the mechanic’s pre-certification inspection? Every certified car has to go through a car inspection before it can be certified. Ask to see that paperwork to find out what was fixed. It’s a good piece of …

Read more Comments

1