Auto Finance: Watch Out for These Dealer Scams - CBS News.

Buying new car dealer scams

While “lemon laws” cover the sale of defective vehicles, car dealer fraud laws are meant to protect consumers looking to purchase a car, truck, van, or motorcycle. Some of these laws include regulations put into place by the Federal Trade Commission (FTC), state consumer protection agencies such as California Department of Consumer Affairs, and general state fraud statutes.

Buying new car dealer scams

Anyone can and should haggle when buying a vehicle. In fact, 64% of those who tried to negotiate when buying a car were successful, with just 16% of those failing to bag a discount, according to Money Advice Service research. So read our tips for negotiating car prices. How to haggle for a new car; Top tips for getting a great deal.

Buying new car dealer scams

Common Car Dealer Scams When Buying a Used Car. One of the most common auto dealer scams when buying a car are the ones where the dealership covers up or hides the defects of the vehicle using some quick fixes to make the car appear to run smoothly. However, it won’t be long before the real problems arise and it can be too late for the car buyer to discover that the car is defective. Hidden.

Buying new car dealer scams

Avoid Car Dealer Scams. Bad Credit Car Buying Guide Step 4 of 4 - Some car buying scams can leave you humiliated, stuck for cash, or worse.Walking!!! There are many car dealer scams in use today and many apply to all customers whether paying cash, those with excellent credit and those with bad credit, but there are a few that are most often used when working with bad credit customers. Trust.

Buying new car dealer scams

The right car, at the right price, from the right dealer. Save time, money and hassle by letting What Car? find the best deal and the right price for your next new car.

Buying new car dealer scams

If you buy a new car or used car from a dealer and something goes wrong with it, you’ll have extra protection if you bought it through: Hire purchase: You have protection under section 75 of the Consumer Credit Act 1974 and the Consumer Rights Act 2015. The vehicle should be of satisfactory quality, fit for its purpose and as described.

Buying new car dealer scams

Top 10 Tips On Buying A Used Car From a Dealer. Most customers choose to buy a used car from a franchised dealership rather than privately. The knowledge that that their purchase will be backed up by a dealership, that the vehicle has been mechanically inspected and reconditioned and in many cases will have additional warranties included or offered; gives the customer much more peace of mind.

Buying new car dealer scams

Reporting New Car Buying Scams. Perhaps the simplest way to report new car buying scams is to report the situation to the Better Business Bureau (BBB). Not only can you use the BBB to report any scams you've fallen victim to, but also you can research car dealerships to make sure others haven't been the victims of car buying scams.

Buying new car dealer scams

There are a growing number of different internet car shipping scams in operation all over the world which are targeting sellers of cars, boats, motorbikes and other single high value items, even horses! We first came across this in January when we were approached by a car dealer in Australia who had been directed to a website purporting to be on of 1st Move International's car shipping sites.

Buying new car dealer scams

The virtual vehicle scam is one of the most popular type of used car scams, so called because the car you’re trying to buy doesn’t exist for sale and the ad has been cloned from elsewhere. The virtual vehicle scam usually involves placement of an online advertisement in one of the most popular trade sites and the sole purpose is to extract money fraudulently from an eager buyer.

Buying new car dealer scams

The spot delivery scam is one of the most commonly used car dealer scams in the car business today. Although, it's not necessarily always a car buying scam, it is still very frustrating and can lead to a nasty surprise. Below we'll cover what this scam is, when it is not a car buying scam, some examples of this scam and how to avoid this scam.