Your Best Car Deal – Avoiding Car Scams

Obviously, not all car dealers are dishonest and unethical. However, all car dealers are in business to make money.The way they do that is simple.They use every psychological trick, to take as much out of your wallet as possible.

Let us count the ways :

The Credit Score Scam:

You come in to buy a car, without a recent credit report.(bad dog!/stupid dog!) Because now your friendly helpful dealer gets to run your credit rating. And guess what he finds? Aw…too bad…your credit score is too low. But,because he/she/it(hey, this could be San Francisco!)is friendly and helpful…there is a solution!…it’s…

The Interest Rate Bump Scam:

Enter the dealership’s friendly financing counselor, who,even with your terrible credit score,somehow manages to get you the cash you need for your dream-mobile,for only 8%. What the friendly counselor doesn’t tell you – is the real rate. 6%. Guess into which pocket the other 2% goes?

The Subject to Financing Scam:

Imagining that somehow you’ve got the deal of a lifetime,you glide home in your shiny,new dream-mobile. A week or so passes. Then you get a call from your friendly,helpful dealer with some bad news. Your loan didn’t go through. But – not to worry, because ever helpful and friendly(not to mention resourceful) dealer,has managed(even with your terrible credit) to get you new loan with a lower monthly payment! What you don’t learn,until you arrive to sign on the dotted line,is that the rate of the loan,like politicians promises, has increased.

The Trade In Scam: (one of mmmmmmmany)

Some weeks after trading in your old pile o’ junk, for your brand new dream-mobile,you get a call from the bank. They want to know why you did’nt make your last payment on pile o’ junk. You explain that you traded in,and that your friendly,helpful car dealer is responsible for those payments. When the bank asks if you’ve got that in writing, then you realize that your pals at friendly and helpful must have just forgotten to make the payments. And guess what direction your credit rating heads now?

The Dealer Prep Scam:

After scoring the deal of a lifetime,with everything signed and sealed – you suddenly get hit for an extra $600 or so. For what? You rightly ask. Why,for the folks at friendly n’ helpful to prepare your dream-mobile for delivery of course! Such as the state of their “art”,they are able to say this with a straight face, their tone implying that you are a few bricks short of a full load. Even though the manufacturer’s sticker on the windshield states that “suggested retail price includes pre-delivery service!”

These are just a few of the “tools” of the car jockeys trade. For you to get the dream-mobile you want, at the price you want, you need to understand and accept that You will never, I repeat,NEVER out bargain friendly, helpful car sales shark. These people are professionals.They do it day in, day out, on (you’ll pardon the pun) auto-pilot. You may think you’re smarter than the average bear. And you may well be. But attempting to outdance a sales professional is financial suicide.

Knowledge is, indeed, power. So know your credit score. Have your credit report in your pocket. Have your financing arranged BEFORE you pass the portals of friendly n’ helpful motors. Negotiate from strength. Call them on their b.s. And don’t hesitate to walk if The “deal” isn’t right. Take your cue from that old country song – “The Gambler ” – “You’ve got to know when to fold.”

Good luck!