Jun 18 2008
Avoiding Auto Dealer Fraud
When we think of used car sales associates, usually unscrupulous sellers come to mind. While used car dealer fraud can be a problem, not all used car dealers are bad. There are many reputable dealers that conduct their used car business with integrity. You have the best chance of avoiding used car fraud if you use the following tips.
Conduct Your Research Before You Buy
• Auto dealer fraud often happens because the buyer is uninformed.
• Learn about the car you are considering.
• How safe is it?
• What are the average costs for maintenance of the car?
• What is a fair price for the car?
You should also research your position. How does your credit report look? What is your credit score? Visits sites such as bankrate.com to get an idea of the interest rate you can expect to be charged for financing.
Plan to Avoid an Auto Dealer Fraud
• Auto scams are more common when buyers are hasty. Take your time when making a used auto purchase.
• Shop around
• Be willing to negotiate
• Don’t try and buy on the same day. Wait at least 24 hours before you decide and sign.
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