In Part 1 of this series, we learned that car scams such as repossession and unnecessary repairs are often targeted towards senior citizens. Here are 5 more car scams that auto consumers, in particular seniors, should be on the alert for:
- Craigslist: Internet scams are abundant and Craigslist is at the top of the list when it comes to selling a vehicle. If you must use Craigslist, deal with cash only. If a buyer says they will send the money via PayPal, it’s probably a scam.
- Cheap Parts: Avoid this scam by finding a mechanic you trust. Some repair shops will pass off inferior or even broken parts to save a buck. This is also a safety hazard.
- Trade-In: Be sure to get your vehicle appraised so you are aware of the trade-in value. Some dealerships will take advantage of you being unaware of what your vehicle is worth and give you a lowball offer.
- Loan Not Paid: If you intend on trading your car in for another vehicle, it’s best to either pay off the loan first or make sure to put it in writing that the dealership will pay off the loan within 15 days. You could find yourself scammed and paying two car payments because the dealership didn’t pay off the loan.
- Yo-Yo Financing: This type of scam is when someone with poor credit is offered an auto loan with a decent interest rate. Then a few weeks later after the sale, the dealership says the load did not go through and they have to renegotiate. The buyer learns the new rate is much higher and if they don’t pay, the dealer threatens to charge them with theft. To avoid this scam, be sure financing is complete before driving off the lot.
The key to avoiding car scams is to be prepared and aware of the possibility. For more information regarding your legal situation, please contact Gerstenberger Law at (770) 920-7722.
The information found on the Gerstenberger Law site is for educational purposes only. Your situation and the situation of others are unique and more complex. This is neither legal advice nor to be considered legal advice. Contact us for advice about your specific situation.