The next article in our blog series on things that people thinking of buying a car should do before they visit a dealership addresses the importance of checking credit reports.
Car manufacturers and dealers heavily promote their certified pre-owned vehicles. But, in our experience, certified pre-owned is mostly a marketing gimmick. Although dealerships promise that the certified cars have undergone a stringent inspection, we find that in many cases, either no inspection was performed or defects are overlooked. As a result, many of these "certified" cars are not worth the higher price that dealerships charge for certified pre-owned vehicles.
This is the fifth of nine articles in our Blog Series Is Leasing Really Fleecing?
One way to avoid becoming a victim of auto dealer fraud is to conduct on-line research before car shopping. While positive reviews will not guarantee a good car-buying experience, consumers can frequently avoid the worst dealerships by checking their reputation in advance.
In the typical Yo-Yo Scam, a car dealership tells the consumer that she is "all set" and that her credit application has been approved. She drives home in her new (or pre-owned) car and shows it off her to her friends, family, and co-workers. About a week later, the car dealer calls and says "There is a problem with the bank. Your application was not approved."
We are approaching the busiest time of the year for car sales. If you are considering buying a car in the next couple of months, here is a checklist of things to do BEFORE your first visit a car dealership.
Managing Attorney Dan Blinn will be the in-studio guest on WTIC 1080 Law Talk on Saturday, June 28 at 3:00 pm. He'll be talking about how to avoid getting ripped off at the car dealership. Feel free to call in and ask any consumer law related questions.