Currently, car purchasing process is full of dangers. The reason is that not all car dealers are honest. Some of them use fraudulent practices in an effort to increase their financial means. That is to say, they cheat consumers by using dishonest practices. As a result, a car buyer ends up paying a higher price than the actual value of the vehicle. You should educate yourself if you don’t want to become one of unethical dealers’ victims. Among these deceitful practices are financial frauds, hiding certain ‘’dark facts’’ about the vehicle, bait, and switch, etc. You can find below a valuable piece of information related to the worst dealership practices.
Packing the contract
‘’Packing the contract’’ is one of the worst dealership practices. What dealers do is ‘’packing’’ the contract with many add-ons. For instance, among these add-ons are extended warranties, as well as service contracts and different accessories. In a word, these are extras that you never asked for, but a dealer ‘’decided’’ to include them. Thus, you will have to pay more money because of these additional options. Very frequently, the dealer presents these add-ons as ‘’ included’’ in the price of the vehicle.
However, the reality is that they are optional. You need to take certain steps to protect yourself against this scam. First of all, prior to signing the contract, explore it in detail. In case the dealer informs you that a concrete item is included in the price, don’t hesitate to check it. If you come across certain items that you don’t want, let the dealer know that you won’t pay for it.
Advertising bait and switch
Very frequently, you may come across ‘’an attractive advertisement’’, which offers a ‘’fairy tale’’ deal. Car buyers ‘’fall in love’’ with a vehicle so much that they simply head to the dealership. Watch out, most probably you are dealing with a scammer. In most cases, it turns out that the advertised vehicle is no longer available. Furthermore, they may offer ‘’a better option.’’ Thus, the dealer may convince you to purchase a more expensive vehicle. The best way of detecting this scam is reading the fine print carefully. You cannot resist the temptation of becoming the owner of the advertised vehicle with such a low price, can you? At this point, call the dealer to make sure that the vehicle isn’t sold out. Also, don’t forget about finding information regarding the current vehicle’s value. To achieve this goal use the Kelley Blue Book.
Co-signer scam is another example of the worst dealership practices. In some cases, a car buyer has a bad credit or just the dealer makes them think so. The next step is suggesting the best solution to this problem. So, the consumer should find a person with a good credit history to co-sign. The worst thing is that the car dealer fails to inform co-signers about their responsibilities. In other words, if the buyer fails to make the necessary payments, the co-signer should do it. Most probably, the wisest decision is not agreeing to co-sign for anyone.
It is worth to point out that trading in an old car is a good option for a lot of consumers. The reality is that you should be very careful if you are planning to trade in your old car. Trade-in fraud is a widespread occurrence in today’s auto market. This car scam happens when the dealer convinces the buyer that the trade in has a very low market value. As a consequence, the consumer receives less financial means than the actual value of the car. Later dealers may sell the trade in with a higher price and increase their profits. Prior to trading in your car, you should have a clear idea about the market value of your automobile. Consider visiting several dealerships and analyze different offers. Don’t rush, as this process requires patience.
The one day only scam
Here is the common scenario of the one day only car scam. The peculiarity of the scam is that the dealer uses high-pressure tactics to manipulate the buyer. What unlawful dealerships do is telling the buyers that this is an exclusive offer and will last only one day. Be cautious not to fall for this auto dealer fraud.
We hope that you already have a clear idea of the worst dealership practices. Finally, always be ready to walk out when you aren’t pleased with the car negotiations. You can find a better option elsewhere.