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When it comes to business, some businessmen forget the importance of practicing ethics. Instead all they focus upon is giving the customer worst deals and get themselves more money. We can not blame though as maybe they have reasons for doing so. But no matter the case, it is no excuse to cheat the customer out of something. Here some scams that the dealer may try to pull a fast one on you. Try learning more about them by reading it here and avoiding the situation.

One of the oldest scams performed by car dealers is the forced warranty scam. When you get the financing from the dealership they may tell you that you need to pay an additional fee for warranty or the bank won’t give you the loan. Some won’t even tell you about the warranty and juts make it look like it’s a fee that will help lower your APR.

To avoid this scam, try to avoid financing at the dealer and instead finance online. They won’t force you to have a warranty when you finance it anywhere else aside from the car dealership itself. Another way to avoid this scam is by telling the dealer to put the “warranty is needed for my loan to be approved” in writing. This is important so that you’ll tell him that you’ll show this to your State Attorney for its validity. They will immediately back of once threatened in such a way.

Another scam to avoid is the dealer preparation scam or just plain excessive charge. This is not really a scam or is it illegal that’s why most dealers even state this on their paperwork. They claim that this fee is only a way to cover up fore their losses when discounting the car of MSRP. Even though, what they charge is till too excessive. The dealer preparation fee should already be covered by the factory for this pre delivery service.

To avoid this situation when the dealer preparation fee has already been put in your buyer’s card, have it balanced out by heaving them put a negative credit on your card. If they won’t remove it, simply go to another dealer. It’s simply a matter of who has the stronger will. If they really won’t budge, it’s their loss. Go to the next dealer on your list and tell him or her that they might get the deal if there is no dealer’s preparation fee.

Always remember to shop wisely when choosing for a car. It will always be their loss if they don’t figure out your point of view. Instead of getting even a little bit of commission or sales, they’ll eventually end up empty because of their greediness.

[Tags]Car Loan, Mortgage, Credit, Money Lending, Borrow Money, Car Mortgage, Car Payment, Budget, Buying a Car[/Tags]

Greenhorns are always the kind of people that you would like to advantage of. I know, because I have been one of them for many situations. Greenhorns tend to act so proud of themselves that they don’t ask for advice from others and simply believe on their own beliefs.

This can be the case for some people as well without much know-how about buying a car or getting the best deal. Because he is too proud of listening to others he gets scammed out of a whole lot of dollars. He may no longer be a greenhorn, but it did cost him a whole lot of money to get out of the situation. To prevent being a scammed greenhorn, try avoiding these situations and remember that you are the master not the dealer. The customer will always be right.

You say that you’re smart enough that you are able to get a financing loan not from the car dealership but from renowned once such as E-loan, Lending Tree or Capital One Auto Financing. But what if the dealer says that they don’t accept checks from these financers as they always bounce? What’s next for you?

Some dealers will definitely lie and say that they don’t accept your bank drafts anymore because their checks always bounce. However they will tell you that you can get your financing form them at a higher APR.  If your checks really do bounce you’ll obviously hear from it. Deale financing is not that bad really, however you just want to find the best one that can give you the best APR. Chances are the local banks used by these dealers can seldom beat the rates that online financers give.

When being forced by your dealer, ask them what they use for financing. If they tell you, reverse the situation. It will be you telling them that you refuse to do a loan there because the bank bounces check and you are onto their scam. If this happens report it to your Attorney’s general office and report this APR scam.

When buying used cars, another scam that is often pulled is selling you a wrecked car. However, some dealers are not really unaware of the damage, but it is the contract that s bothersome. The car will have a sticker that is federally required buyer’s guide sticker that says “as is, no warranty.” This sticker means that you are willing to accept all responsibilities of this car no matter the risk of damage.

To avoid getting stuck with a more heap of junk than your previous junk, don’t buy a used car that says “As is”. Always try to get one with a 30 day warranty. Another crucial factor that may help you out before deciding to buy the used car is to get a CARFAX and have a mechanic inspect the car.

If you follow these tips wisely, you’ll look really smart and won’t seem like a greenhorn that will be easily pushed over.

[Tags]Car Loan, Mortgage, Credit, Money Lending, Borrow Money, Car Mortgage, Car Payment, Budget, Buying a Car[/Tags]

Some people don’t care in helping out and would only care as to get more money from them. When in a bad financial situation and suddenly your car goes bonkers on you. You will eventually end up trying to rush the deal to get a new car. The result will be further disastrous. First you won’t be able to get the best value for you are and since you are rushing, you won’t be able to prepare to get the best deals. Aside from that, if you have bad credit ratings, there are some scams that you might fall into. This is called the “yo-yo” scam.

One scam that is usually pulled by greedy dealers is the “yo-yo” scam. This scam is usually pulled on people with bad credit rating. They let the buyer trade in his used car and let him drive of the new car because he tells the buyer he’s or she’s got a good credit rating and she’ll be given a good APR. Weeks come and they come calling you back and they say that the APR that you qualified for was not right and the APR you’ll have will now be higher than the budget you planned for.

So don’t fall for those contracts with the dealer that says subject to financing or subject to loan approval. This only means that the deal is not final even though you signed for the contract. Before they give you the APR deal, they already know your credit rating, so they will make you believe that you have a good credit rating and have a good APR, but then weeks later they’ll tell you your credit ratings bad and the APR becomes higher.

This scam is simple to avoid. Avoid getting financing deals with the dealer if you have a bad credit rating, instead try to arrange your own financing and see what the two of you can work out. The deal will be conducted on how it’s supposed to be based on the selling price and not the monthly payments. It will also help you out in avoiding monthly payment scams.

If you do decide however to take the financing of the dealer, don’t let them tempt you into driving off with the car. Also leave some deposit on your credit card.

Hope that people who have bad credit and are interested in buying a car, don’t fall in the temptations of the tricky car dealers. It like they say enjoy the car now and pay  big later.

[Tags]Car Loan, Mortgage, Credit, Money Lending, Borrow Money, Car Mortgage, Car Payment, Budget, Buying a Car[/Tags]

As if trying to figure out the best deals and getting the best cars isn’t hard enough. There are some vultures out there that would want to have a free lunch on unsuspecting victims or naïve car buyers. Probably especially to those who are newbie in buying a car or those that have no idea at all, these are what they would call a free kill.

Here are some of the top scams that one must avoid to prevent being an easy target.

The double dip advertising fee scam works when the dealer charges the buyer to pay for another extra advertising fee. The cars that are sold to you have already advertising charges included in their deals, so don’t let the dealer fool you by letting them charge you another advertising fee. The advertising fee is already art of the car’s cost. It’s called double dip because the dealer has urged you to pay advertising twice and he makes an additional profit out of the 2nd advertising.

To avoid the double dip scam, let the dealer show you their invoice of the car. The invoice should already include the advertising fee. It will help show you that there already is the advertising fee and you will prove them wrong. Therefore you can have the fee removed.

Another scam is the marketing adjustment fee scam. Dealers usually add a high marketing adjustment fee scam on hot vehicles. This scam cam is seen usually as an orange sticker beside the Manufacturer’s Suggested Retail Price. This scam is also called the Additional Dealer Scam. They will include other stuff in the deal that re so overpriced. One example is the window etching service. They will charge you for an additional three hundred and fifty dollars when you can buy it for twenty dollars.

Usual victims of this kind scam are trade in buyers. The dealer will throw them an extra thousand dollars in cash. Because of the extra thousand dollars they forget to check out the ADM. Never pay more than the market suggested retail price for the car. If you are going to sell the car the value will be based upon the depreciation of the market suggested retail price only not the MSRP plus additional fees.

Another scam that dealers try to pull out their sneaky bag of tricks is that they simply lie about your credit history. Don’t believe them about your credit history. What should be important is that you should know more about your credit history than they do. Don’t let them make you believe that their credit history about you is the right one, so before buying a car fix all the financial details needed such as your credit history as well.

Don’t be too anxious in buying for a new car. If you do, you’ll be able to overlook the details. Once you’ve seen the other charges you got, you’ll be depressed for a while to even drive your car out.

[Tags]Car Loan, Mortgage, Credit, Money Lending, Borrow Money, Car Mortgage, Car Payment, Budget, Buying a Car[/Tags]

To some people getting a car becomes part of one’s life. As kids, we pester our parents about getting a license. We try to convince our parents that we are already big kids and can handle driving already until they finally give in. Ironic thing is, for some people, they still end up starting to borrow their parent’s car or borrow money to get a new one until they have enough money for their own. There are also some who are able to save up enough money to get their own cars too. No matter which kind of person you are, when you’re a newbie in getting cars, here are some tips that may be of help.

Before going to a car dealership, determine the fair price you think is for the car you would want to have. A website called carbuyingtips.com offers a free spreadsheet for you to figure out the right price. You will also need the invoice pricing of the vehicle you want to be able to know what the price is. You can get this form the website of Edmunds.com and Fightingchance.com. Fightingchance.com charges you thirty five dollars for information that includes invoice pricing data, current dealer inventories and the deals others have gotten. Edmunds offers the service for free but based on response from users, Fightingchance.com is more accurate.

After figuring out the right price in which the dealer won’t overcharge, it’s best to let various dealerships compete with one another to lower the price. Let each dealership know that you are working with other dealerships fort hem to compete with one another to give you the lowest price. You can be able to do this by going to some websites and fill out their request forms. The following websites that could help are Cars.com, Autoweb.com, Invoicedelaers.com, carsdirect.com, Edmunds.com, car.com, autos.com and atousa.com. When finally talking to the dealer, tell them the specifics of the car you want and the bottom-line line price that includes the dealership fee. Tell them that you are not trading in a car and if they discuss certain fees or plans on how to pay the car, tell them the price is the only thing you’re interested as of the moment.

To help you save more money, try finding a financing loan company. It is not only in the car dealership that you can be able to find financing. Before applying for a car financing, check out your credit rating, in the following websites such as Equifax, Truecredit or ConsumerInfo. This is important so that you’ll be able to find a financing company based on your credit rating that can finance you best rates. If you have a very low credit rating go to Autocreditfinders.com, as they help out in finding a financing company for people with low credit ratings.

The final piece of the puzzle is negotiating. After getting the prices with the different dealers, tell each dealer the lower price each one has offered. Maybe by pulling that trick one will eventually offer a lower price. Hope that by being able to follow these tips, one can be able to get a good deal on his new car and enjoy driving it.

[Tags]Car Loan, Mortgage, Credit, Money Lending, Borrow Money, Car Mortgage, Car Payment, Budget, Buying a Car[/Tags]