Deceitful car dealers are the nightmare of all car buyers. If you want to avoid falling for various auto scams, you need to gain knowledge on popular car buying scams.
Most car dealers you'll cooperate with will probably be nice and law abiding folks who are simply doing their jobs. Unfortunately, among honest people there are a lot of fraudulent dealers as well who will try to trick you.
So you should be knowledgeable enough to avoid all the possible car dealer fraud attempts.
Here are 2 auto sales scams that can be easily prevented:
No trade in pay off
If you're planning to do car business, make sure you work with a reputable dealer. Some unscrupulous dealers will persuade you that they'll pay off your old loan with proceeds from your new loan, but then they will fail to do it and simply pocket your loan payoff. The dealer may not pay off the loan on your trade, and so the loan responsibility is on you.
To avoid this trick try to make sure that the dealership includes your loan payoff on both the buyer's order and the installment contract. Many new car dealers want you to confirm that you have a payoff on your trade as part of their normal process, so this is really only a concern if you're working with a small-time dealer.
Straw purchase scam
The best way to battle with this car buying scam is to have your co-signor with you, and ensure they are only signing contracts that relate to them helping you get your own loan. Of course it would be better for if you could get your financing on your own away from the dealer.
If you have already been a victim of dealer fraud and you believe your rights are neglected, turn to an auto fraud attorney in your region.
The Law Offices of Hovanes Margarian is successfully practicing Dealer Fraud in the state of California.
When seeking an aggressive and competent attorney to defend you, it is crucial to select the lawyer that is highly qualified and experienced in his areas of practice. The Law Offices of Hovanes Margarian have successfully represented countless individuals on their matter.
If you feel your vehicle might be a Lemon or that you have been subject to intentional Dealer Fraud, call us at 818-990-0418 for a complimentary consultation.
Most car dealers you'll cooperate with will probably be nice and law abiding folks who are simply doing their jobs. Unfortunately, among honest people there are a lot of fraudulent dealers as well who will try to trick you.
So you should be knowledgeable enough to avoid all the possible car dealer fraud attempts.
Here are 2 auto sales scams that can be easily prevented:
No trade in pay off
If you're planning to do car business, make sure you work with a reputable dealer. Some unscrupulous dealers will persuade you that they'll pay off your old loan with proceeds from your new loan, but then they will fail to do it and simply pocket your loan payoff. The dealer may not pay off the loan on your trade, and so the loan responsibility is on you.
To avoid this trick try to make sure that the dealership includes your loan payoff on both the buyer's order and the installment contract. Many new car dealers want you to confirm that you have a payoff on your trade as part of their normal process, so this is really only a concern if you're working with a small-time dealer.
Straw purchase scam
The best way to battle with this car buying scam is to have your co-signor with you, and ensure they are only signing contracts that relate to them helping you get your own loan. Of course it would be better for if you could get your financing on your own away from the dealer.
If you have already been a victim of dealer fraud and you believe your rights are neglected, turn to an auto fraud attorney in your region.
The Law Offices of Hovanes Margarian is successfully practicing Dealer Fraud in the state of California.
When seeking an aggressive and competent attorney to defend you, it is crucial to select the lawyer that is highly qualified and experienced in his areas of practice. The Law Offices of Hovanes Margarian have successfully represented countless individuals on their matter.
If you feel your vehicle might be a Lemon or that you have been subject to intentional Dealer Fraud, call us at 818-990-0418 for a complimentary consultation.
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