Credit score scam
Credit score scam is the most abused scam. This is where the car dealership tells you that your credit score is lower then what it actually is in order to charge you a higher finance rate on your car loan. No one is immune to this scam because the dealership doesn’t care if you have good or bad credit when they attempt to con you. To get a solution out of this the only best way to deal with this greediness is to bring a copy of your credit score with you when you go looking to buy a new car.
Forced warranty scam
Another favorite scam is the forced warranty scam where you will be insisted by the auto dealership that in order to qualify for the car loan you will need to purchase a $2000 2 or 3 year warranty.
Dealer markup fee
The dealer markup fee is another phony fee that is made up just to pad the car dealership’s profit margin. This is an unnecessary fee that the dealer charges for no reason other than greed. This fee can be seen on the orange sticker marked on the manufacturer’s suggested retail price (MSRP).
These are just a few of the many car scams that can surface from time to time when you are attempting to buy a new car. Although these practices to go on there are many trustworthy car dealerships that can and will sale you a car for the right amount of money allowing you to purchase the car without getting ripped off and still allow the dealership the opportunity to make the compensation they deserve for their efforts. The trick is to find that dealership.