There is a big rise in yearly records of car dealer fraud cases in the U.S. For instance, it is estimated that the annual value of misrepresentations practiced by car loan organizations was as high as $6 billion in 2017, which is twice as much as 2016 estimates. In addition, statistics reveal that most car dealers will exercise at least one fraud attempt a year.
Shrewd fraudsters are constantly developing new schemes of hiding or intentionally misrepresenting vehicle details in order to gain more money. Thus, if you intend to buy a car in the nearest future, your likelihood of becoming a victim of car dealer fraud is pretty high. There are a number of ways to protect you from becoming a victim of dealer fraud. The bottom line for avoiding dealer fraud is being more attentive when signing a contract or any financial document with the dealer, as well as doing research on the car history.
Anyway, in case you purchased a car and found out a fraud committed by the dealer, an experienced auto fraud attorney can help you restore your customer rights. Here are 3 typical dealer fraud situations that you will not be able to handle without proper legal assistance:
Intentional misrepresentation and non-disclosures: Federal and state laws prohibit car dealers from misrepresenting or not disclosing the mechanical defects or history records of a car. Thus, your legal representative may file a lawsuit against the car dealer for damages caused by the failure to disclose the known defects or intentional misrepresentation of some significant facts resulting in financial loss and damages.
Bait and switch advertising: If you saw an advertisement of a relatively cheap car and after getting in touch with the dealer found out that the car is no longer available, this is a typical example of bait and switch advertising. Most likely, the shrew dealer will try to sell a different, more expensive vehicle, claiming that it is a better option or the advertised car is already sold out. This is another fraudulent scheme practiced by car dealers that will need an interference of a skillful auto dealer fraud attorney.
Contract scams: Signing a contract is a matter of great importance. Unfortunately, car buyers often pay more attention to the color of the car than the terms and conditions of the contracts. Shrew car dealers try to take advantage of the fact. As far as any contract is a legal document it is wise to consult a dealer fraud attorney prior to entering into a contract with a car dealer.
The experienced and dedicated auto dealer fraud attorneys at the Margarian law firm are there to help you restore your rights and get proper compensation for the financial loss and damages you suffered as a result of a car dealer’s fraudulent actions.