Market Adjustment Fee in Car Buying
The term market adjustment fee is always associated with a car scam. The scam occurs when a person enters a dealership to choose a new car and sees the sticker of this fee on the car window.
The new cars are sold based on their MSRPs (Manufacturer Suggested Retail Price). This is the price the dealer must ask for the new car from the potential car buyer. The Manufacturer Suggested Retail Price sticker is always on the car window.
However, some sly dealers put another sticker on the car window, too. It is the sticker we have already mentioned about: market adjustment fee sticker in orange. This sticker usually adds from hundreds to thousands of dollars to the car price. The dealers justify this by telling the unsuspecting car buyers that the newest and the most popular cars have certain privileges over the older ones, so they are sold at higher prices.
Never believe this. It is a usual way of cheating people and ripping them off. An example of such a scam has been practiced when selling the new Toyota Prius C model. A dealer in Miami has added a market adjustment fee to the vehicle price. Believe it or not, but the fee was $7000.
The market adjustment fee scam is more common in the cases when the buyers trade-in their old vehicles. Whatever the case, you, as a new car buyer, must be extremely careful not to fall a victim of such a dirty dealer scam.
If you feel you have been cheated or defrauded by a California car dealer, contact the Law Offices of Hovanes Margarian. We are a team of experienced auto dealer fraud and lemon law attorneys ready to evaluate your case and represent you in the court, if necessary.