1. The VIN# Scam involves the dealer trying to charge you for having the VIN# etched on the window, citing that it is required by the finance company. This is total rubbish. Lenders are only concerned with your ability to pay the instalments.
2. This is a scam for those with poor credit. The are dealership that may quote the "subject to loan approval" phrase found in many loan proposals as a way to get as much as an extra $1000 and $50 per month out of you. A way to avoid this is to get you funding from a bank or other lender.
3. The credit score scam is very common nowadays. This involves the car dealer telling you that your credit score is lower than it really is and attempting to charge a higher interest rate. When purchasing a new car it's a good idea to bring along your credit report to dispute any claims that they could make.
4. Next is the forced warranty scam where the auto dealership will insist that in order to qualify for the car loan you will need to purchase a $2000, 2 or 3 year warranty. This is total rubbish and the truth is you don't need the warranty.
5. The dealer prep scam is another good one. It involves an adiitional $500 fee for doing basically nothing. Ther is no preparation as the car usually arrives at dealership ready to be purchased and driven straight of the lot. Avoid paying this or visit a dealership that does not charge this fee.
6. The 'dealer mark -up fee' is another scam. This fee does nothing but boost the dealers profit margin. Greed is the purpose of this fee, plain and simple.
As common as these scams are, there are also quite a few reputable dealerships out there. Dealerships that will give you a good service and sell you a car at a fair price. You just have to look carefully for them.
2. This is a scam for those with poor credit. The are dealership that may quote the "subject to loan approval" phrase found in many loan proposals as a way to get as much as an extra $1000 and $50 per month out of you. A way to avoid this is to get you funding from a bank or other lender.
3. The credit score scam is very common nowadays. This involves the car dealer telling you that your credit score is lower than it really is and attempting to charge a higher interest rate. When purchasing a new car it's a good idea to bring along your credit report to dispute any claims that they could make.
4. Next is the forced warranty scam where the auto dealership will insist that in order to qualify for the car loan you will need to purchase a $2000, 2 or 3 year warranty. This is total rubbish and the truth is you don't need the warranty.
5. The dealer prep scam is another good one. It involves an adiitional $500 fee for doing basically nothing. Ther is no preparation as the car usually arrives at dealership ready to be purchased and driven straight of the lot. Avoid paying this or visit a dealership that does not charge this fee.
6. The 'dealer mark -up fee' is another scam. This fee does nothing but boost the dealers profit margin. Greed is the purpose of this fee, plain and simple.
As common as these scams are, there are also quite a few reputable dealerships out there. Dealerships that will give you a good service and sell you a car at a fair price. You just have to look carefully for them.
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Scams to Avoid When Buying a New Car
by Roberto beiro
Buying a new vehicle is already hard enough without a car salesman putting pressure on you while you are browsing. We all know that almost every car dealer can be negotiated down on the sale price of a car. The thing is that to watch out for the scams so that you can maximize your hard earned cash. In this article I am going to share a few sales tactics that you may want to be on the lookout for the next time you purchase a new car.
by Roberto beiro
Buying a new vehicle is already hard enough without a car salesman putting pressure on you while you are browsing. We all know that almost every car dealer can be negotiated down on the sale price of a car. The thing is that to watch out for the scams so that you can maximize your hard earned cash. In this article I am going to share a few sales tactics that you may want to be on the lookout for the next time you purchase a new car.
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