Beware of Market Adjustment Fee Scam
Some automobile dealers and salespeople are rather good at practicing different types of scams and tricks. One of the tricks they practice the best is market adjustment fee scam. Mainly new car buyers become the victim of this scam. This is as well a challenge for those people who want to trade in their old vehicles and get new ones in this way. The thing is that people, who are trading in their old cars, mainly concentrate on the price of the trade vehicle; these people usually forget to look at the details of the car deal.
What is Market Adjustment Fee
The market adjustment fee is the fee that a dealer may require you to pay for a brand new vehicle that is popular in the market at that moment. There are dealers and salespeople who manage to get hundreds and even thousands of dollars as market adjustment fees.
As you know, each new vehicle has its MSRP (Manufacturer Suggested Retail Price) sticker on it. The MSRP is the price that the manufacturer asks for the vehicle. Some dealers are so sly as to put another sticker (usually an orange one) for the market adjustment fee. Of course, they do this to make it look more official. Unfortunately, many car shoppers fall for this trick and agree to pay $1000-$2000 more the MSRP. Sometimes, the dealer makes the new car buyer pay up to $5000 as a market adjustment fee.
No auto dealer has the right to ask you to pay more than the MSRP is. If so, just tell them you refuse to pay the money. If the dealers insist on, just leave the dealership. Market adjustment fee is an excess fee some fraudulent dealers have invented. It is no use paying so much money for a vehicle that is going to lose its value after purchasing.
If you believe you have been defrauded by your dealer and you think you are entitled to remedies, then call us today. The Law Offices of Hovanes Margarian is a law firm that has handled hundreds of dealer fraud cases. We are ready to offer legal help to you if there is a need for that.