FAQ

Did the dealer tell that you had to pay a higher interest rate because your credit was bad?

It is not a secret for consumers that people with low credit are typically charged a higher interest rate for financing. However, a large percentage of consumers are not even informed what their credit report […]

Hovanes Margarian, Attorney At Law   FAQ
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What Should a Buyer’s Guide Include?

According to the requirements of federal law every used vehicle offered by a dealer (dealer is anyone who sells more than five vehicles a year) must have a Buyer’s Guide posted inside. Buyer’s Guide should […]

Hovanes Margarian, Attorney At Law   FAQ
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Title Washing – How Does It Work?

Dealers and individuals use title washing to remove salvage branding from car titles and to minimize their losses. Typically they transfer a salvaged vehicle to a state that doesn’t recognize the brand and the titles […]

Hovanes Margarian, Attorney At Law   FAQ
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How Does Upside-Down Car Financing Happen?

In vehicular terms being upside down in your car is a financial problem. In car dealership slang, it simply means that at the end of your auto loan, you still owe more money to your […]

Hovanes Margarian, Attorney At Law   FAQ
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My Interest Rate Is Above the Bank’s ”Buy Rate”

Most dealerships that arrange financing do not provide the credit themselves but assign the contract to a finance company. If the interest rate on the contract is above the bank’s “buy rate,” dealerships receive a […]

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Beware Buy-Lease Switch Scam

Today one of the common practices of car dealers is a variation on the standard buy-lease switch scam. This is a scam that tricks customers into believing that they will own the car after leasing […]

Hovanes Margarian, Attorney At Law   FAQ
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Did the dealer trick you into a lease?

Buying a car is not the same as leasing a car. Although most car buyers know the difference, many do not. Car dealer may trick you into a lease when you in fact believe that […]

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Dealer Trick: Were you charged for any insurance that you didn’t agree to?

There are unscrupulous salespersons in the car industry that use to charge the customer for insurance that the customer did not want to. This is another fraudulent practice of car dealers. The contract may include […]

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Car Repair Scams: Tricks Highway Bandits Use

One of the oldest auto repair scams is the “Highway Bandits” scam. Generally “Highway bandits” work for service stations or are their owners. Often they scam motorists who stop for gasoline or water. There people […]

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A New Car Scam Appears Every Day

Every time a new feature is added to cars it seems like a scam appears for car dealers to take advantage of and make more profit. A good example of this is airbags. I can’t […]

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