Auto dealer fraud is a big concern for many potential car buyers along the country. When buying a car being cautious is a must, but remember, not every auto dealer is a liar. But how you can tell the difference? Below are some types of car fraud you might encounter and tips to avoid used car fraud.
Buyers are made to believe they can only get a vehicle at a high interest rate.
Tips to avoid this fraud: Know your credit score and what kind of rate you can be entitled to before stepping into the dealership. When it comes to avoiding car fraud, knowledge is power.
Customers Can Ask the Wrong Questions.
When at the dealership, customers usually have some idea of how much they can afford for their monthly payment. Unscrupulous dealers are aware of customers being focused on it and use it to scam them. Avoid theses scams by asking questions
- related to the invoice price for the car.
- related to the total cost of the car and the loan.
- to understand the loan terms and fees.
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