Nov 13 2008
What is the Auto Loan Markup Scam?
It has been estimated that this car scam costs consumers as much as one billion dollars a year!
The car dealer will often add points to your auto loan based on what they say is in your credit rating. Those points are then kicked back to the car dealer from the lender.
This is an industry wide practice that can easily add $1000.00 or more to the cost of your vehicle and cost many thousands more over the life of your loan.
