Top Car Dealer Scams By Tom Tessin At Isnare.com Ezine Articles

When you are in the market to purchase a car you should be aware of “Scams” from the car dealerships and there representatives. It is smart t know a few things before you go shopping. You may have a certain vehicle of your dreams or just browsing for the perfect car that suits your needs in either case you need to be aware of some car buying facts. One problem faced by many people is the frauds that dealers and dealerships use to get your business. Most people are not in the business to buy a vehicle often since once you have your car it should last you for several years. You want a car that is durable, with enough luxuries to meet your needs and has a very low cost of operation. You find this out from the manufacturer by going on the internet or contacting them directly. Once you have a preview of the vehicle you are interested in buying the next important procedure is purchasing. Purchasing can be hazardous to your financial health. This is where we advise you to watch for car dealer scams.

When you are buying a new car watch out for the dealer who hands you the keys and says good by everything is under control you gotten a low APR. You drive on home and several weeks later, the dealer calls informing you that he is sorry but the loan did not go through as expected, as you do not qualify for that low APR after all. Now you are expected to purchase the vehicle at a much higher rate this is the “spot delivery scam.” The dealer knew all along what your credit was because it only takes a few minutes to find out if it is below 680 or above which determines your APR. Your contract states “subject to financing” the dealer knows this and uses this in order to sell your contract to some lender for a higher APR so that both he and the lender are making money. You need to find your own financing before you go to the dealership in order to prevent this from happening. This scam can be two fold in that the dealer sometimes lies to you about your credit score as well as selling your contract to a lender in order to make more money for the dealership.

Car Dealer scams apply when you are buying a used car so you need to be aware of that fact and watch out for the problems that arise before you purchase a vehicle. First, have a mechanic look at your car upon a lift to check for any damages due to accidents. Then you should run a vehicle history report t find out if the car has been involved in an accident, totaled, salvaged, rebuilt, flooded, failed inspection or had the odometer rolled back. Finally to be on the smart side of a used car purchase never sign an “As Is” paper at a used car dealer make sure that you get at least thirty days warranty. We cannot express enough to have your own financing set in place before you go shopping in order to prevent any finance scams.

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