Car Scams One should be Aware about
The purchase of a new car is usually challenging and some car dealers may put a lot of additional pressure on you. If you intend to buy a new car you should be wary of car scams and dealer tricks designed by salespersons to make more profit out of the sales process. Following are some of the scams and dealer fraud to be aware of when you go to the dealership to shop for a new car.
1. One of the car scams popular among the dealers is the credit score scam. This happens when a car dealer informs you that your credit score is lower than it actually is and tries to give you a higher finance rate. Keep in mind that the dealerships will try this scam regardless of your credit score. The best way to avoid this car fraud is to bring a copy of your credit report with you when you go to a dealership to buy a new car.
2. Another popular scam is the dealer prep scam. This happens when a dealer charges an additional $500 on the vehicle for work that is not required, because cars are ready to be driven of the lot when they are received. Purchase a car from a dealership that doesn’t charge dealer preparation fee.