5 Car Dealership Scams Revealed!
Car Dealer Scams are often portrayed as predators just waiting for an unsuspecting customer to come along. This is because many people believe that they are always on the prowl for unsuspecting buyers that are not very knowledgeable about cars. This can be unfair because we can argue that there are car dealers out there who would not cheat just to get an extra profit.
How do you tell the difference with car dealer scams?
To avoid becoming a victim of sneaky car dealership scams. Look at the following auto financing scams.
1. Car Dealer Yoyo Scam
You will be allowed by the dealer to bring the car home as soon as possible. The dealer will take care of the financing a few days later he will contact you again and tell you that there was a problem with your financing plan. He will tell you to set up a new financing scheme through him which of course will be at a higher cost. This will also entail a very high profit on the dealer’s part.
Be wary of this trick and avoid it at all costs if you detect it. If you have a bad credit standing, don’t have your financing done by the dealer and make arrangements for your own financing. If you ever do avail of the dealer’s financing. You should never drive the car back to your home immediately. Wait for at least 24 hours just to make sure that the processing of your financing scheme has been completed already. By allowing 1 whole day to pass by. You are assured that the dealer cannot use this scam on you.