Car Buying Scams | Auto Finance | Automotive Articles

Written contract scam: Basically, this is when the finance manager sits you down and begins to write himself into a frenzy, whilst quickly throwing numbers at you until you are so confuddled, you end up paying more than you agreed on.

This may seem impossible for a person to get away with but believe me - it happens all the time.

The finance manager is counting on you being confused and desperate to get out of there, so assumes you will simply go along with whatever he says. Most of the time, it works.

Avoid it by forcing him to slow down and calculate right along with him to make sure that you are getting a fair deal and that you both come up with the same numbers. Waste his time!

Price beating scam: The dealer tells you that they will beat everyone else's prices or give you $500.

They ask you to get the price from another dealer and they will beat it. The part they didnt tell you is that other dealers will not just hand over their information for you to take to someone else.

This deal is almost impossible to get because most dealers sell different makes and models anyway.

Avoid it by not falling for it at all.

I will not get paid scam: This is when the dealer tells you that he will not get paid if you do not purchase the options package. This is emotional blackmail.

To avoid this simply tell them that you refuse to buy something you do not want just so that they get paid. If it is that much of a problem they should get another job.

No payments until scam: This is when a dealership advertises that you do not have to pay for 6 months.

Next thing you know, you buy the car and they tell you that it is due for payment in 2 months. Some will not even be applicable at all.

They can claim a typographical error or that the deal was a week ago. It is an outright lie, and you should get your deposit back.

Avoid this by asking the dealer to put that in writing before you purchase the car and make your deposit by credit card so that you can refute it.

The "We've Got it scam: This happens when you call a dealership asking for a specific car make, model and color and are told that they have it.

However, when you get there, you are told that they miraculously sold the only one they had before you arrived. Next they will tell you that they have another car similar to it for only $500 more.

Avoid this by leaving.

No Cheaper rate scam: This is when a dealership tells you that you cannot find a cheaper price anywhere else on the market.

Get real!

Of course, if you have done your research, you already know that the prices do not change on the value of a car.

Avoid this by simply stating that they must be right, and then leave.

The Phone call scam: This is when you have successfully negotiated a car, and the salesman suddenly gets a phone call with an offer for the car that is lower than the price you agreed on.

Then he casually lets you hear him state that he will call the man on the phone right back if you opt out of the deal.

Next, he tries to talk you down from your set upon price to compete with the guy on the phone's offer.

Avoid this by telling the salesman that you will understand if he chooses to take the better offer.

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