Let’s face it: Americans love driving and purchase hundreds of thousands of automobiles each year. While the majority of car dealerships follow the regulations, there are a few exceptions. Whether you’re purchasing, selling, or just servicing your vehicle, we must all have our wits about us to avoid becoming victims of increasingly complex automotive scams. With the internet and social media becoming more popular tools for thieves, it is now simpler than ever to fall victim to unethical scammers. That is why we, our auto fraud attorneys at Spragg Law Firm, have chosen to assist you. Stay one step ahead of the scammers with our guide to some of the most frequent scams employed in the Country and what you should be on the lookout for.
- False claims regarding the car’s pricing scam
Suppose you walk into a showroom and a salesman offers you a price quote. However, when you prepare to close the purchase, you notice that the cost of the agreement is not the same as the amount you were told. You may also note that your agreement has extra fees that raise the Overall Monetary Price of your automobile. To save yourself from this situation, ensure that the Total Cash Amount on the contractual agreement corresponds to the amount you were given. If the costs differ, you may be a victim of an auto fraud incident. If the dealer fails to fulfill the salesperson’s claims, decline to complete the agreement and leave immediately from the dealership.
- Wreck or issue hiding scam
When purchasing a used automobile, keep an eye out for cars that have been previously damaged or vehicles that have had to be brought back to the factory due to numerous repair problems (known as “lemons”). Always test-drive an automobile to ensure it has no faults. Before purchasing a secondhand automobile, get it inspected by a technician. In addition, request maintenance records. If the dealer refuses to give it, go elsewhere to purchase your vehicle. You may also use a car history record search tool to look up a vehicle’s past registration history.
- Buying/ leasing scam
BUYING a car implies that once your payments are completed, you will OWN the vehicle. LEASING implies that you will pay monthly payments on the automobile for a certain length of time – the lease duration – and you will NOT own the car at the end of the lease term (unless you make a large payment to own it). Customers are regularly tricked when salespeople mislead them into purchasing when they are actually leasing (and vice versa). Other examples of deception include informing consumers that they would own the automobile after the lease.
Make sure that you have read and comprehend the whole written deal. If you want to purchase a car, be sure the agreement you sign does not include the phrase “lease.” Although it may appear straightforward, many buyers are easily duped by the dealer. Bring a buddy if you are unsure.
If you want to purchase, don’t let yourself be pushed into a lease. Shop around and make sure you understand your rights.
- The yoyo scam
A typical example of a yoyo auto fraud incident is buying a car and bringing it home. After a week, you got a message from the dealer notifying you that there is an issue with the finance and that you must come to the showroom. When you go to the showroom, the salesman informs you that you do not qualify for financing but that the transaction may still be completed at a higher interest rate.
Most car contracts are subject to finance approval, so the dealership can back out of the agreement if the finance falls through. However, funding issues should not necessitate a renegotiation of the original contract’s provisions. If you still want the automobile, you must obtain your finance.
Request to talk with a legal firm to cope with the situation.
Auto fraud incidents and scams are widespread issues. They can happen to anyone if you’re not proper;y aware of their tricks and don’t know how to stay one step ahead of them. We have represented victims of odometer rollbacks, title washing, false or incorrect certificates of repaired wrecks, and other used automobile frauds. We’ve also seen situations when new vehicle sellers hide that the automobile was in an accident while it was in their ownership or used car dealers cover up a significant engine or emission problems using duck tape. But, no matter what, our auto fraud attorney consistently delivers on our commitment and competence. If you have been a victim of vehicle fraud, please contact us right away so we can assist you.