SolveYourProblem eLearning Series: Buying A Car
How Do I Buy a Car
Without Getting Ripped Off?
( 17 pages )

Top 10 Car Dealership Scams   

3. The Credit Score Scam

This scam is ridiculous at best. This is when the finance manager tells you that your credit score is lower than it really is so that they can get you for higher interest rates.

This scam is pulled on everyone; good or bad credit.

This scam is easy to avoid. Just get your own copy of your credit report from Equifax.com, and bring it with you.

It is really difficult to lie to you about your credit score if you have your own copy of it. If your paper and theirs doesn’t say the same thing, go somewhere else because that dealership is lying to you.

Don’t forget to let them know it too because it’ll be nice to watch them squirm.

4. The Forced Warranty Scam

This is when the finance manager tells you that you are not eligible for the loan by the bank unless you pay an extra $2000 for a 2-3 year extended warranty.

This scam just doesn’t make sense. Basically the finance manager is telling you that the bank won’t trust you to pay the $20,000 loan for the car, but they will trust you if you pay even more money. That’s just stupid.

You can avoid this scam if you can force them to put it in writing that you “have” to pay the extended warranty in order to get the loan.

That way you can bring a copy of the contract to your local State’s Attorney’s office to verify that the deal is valid. I can bet that the finance manager will change his tune pretty quickly.

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