When it comes to buying or selling a car, there are lots of cases when you can become a victim of auto dealer fraud.
So, if you go to the dealer’s place for a new or a used car, be aware, the dealers might cheat you. According to rvtrade.com portal, each year, some individuals are left feeling the pinch of fraudulent purchases, and the car industry is no different. Avoiding auto dealer fraud is not an easy task to do. A buyer or a lessee is always under the risk of being defrauded by a dishonest auto dealer. Dealers concentrate on making money on vehicle purchase and lease deals, that’s why they may use lots of scams and tricks to misrepresent the vehicle and get extra profit from it. But there are many ways you can protect yourself and keep from becoming a victim of or being associated with fraud.
Here are 5 points to remember to protect you from deceit.
Read carefully what you are signing
According to Mr. Margarian, the founder and lead attorney of the Margarian Law firm, this is a very basic and simple rule; however, lots of buyers and lessees have been defrauded just because they failed to follow it. Salesmen always seem to be very kind, they are in the car selling business. The dealers may not know some facts about the car, for example, they miss the fact that the car has been damaged. And they may persuade you to buy it.
There are also honest dealers, but, anyway, in order to protect yourself read the contract, you are going to sign. Do not forget to get its copy.
Do not trust verbal agreements
Oral promises are worthless. The dealers may promise you one thing and do another thing. In any buying-selling situation ask for the agreements to be in the written form to protect you from frauds.
Get information about the car you want to buy
Notice, that the salesmen will size you up from the moment you enter the shop. While greeting you they decide how much you know about the car. When they realize you do not know exactly what type of car you want and the selling price for that car, they will turn your attention to other cars which have lots of features and are expensive. Do research before buying a car.
Negotiate the price
Negotiating is a part of everyday life, but in business, it’s absolutely critical to your success. Dealers always start negotiations high. You want to start negotiations low and then you will be able to work toward a price in the middle.
Do not show your emotions
You see the BMW you have been dreaming about for many years. And when the dealer catches you are emotionally attached to that car, all your negotiation will lose its power.
Nobody wants to be cheated, yet millions of people are. You work hard to earn money, and you want to protect it. And you do not want to be a victim of fraud by a company making you spend more than you are going to. There is no cultivated way to protect yourself against auto dealer fraud. We hope these 5 points will help you while buying a car and help you to avoid fraud.