Car Dealer Lied About Financing

Car Dealer Lied About Financing – Bridges runs True Price Auto, a consulting company for car dealers, which it describes on its website as “the ultimate helper when it comes to the hassle of buying or trading a car.”

Bridges said car dealers should make money for individual employees, but criticized dealers for a lack of transparency.

Car Dealer Lied About Financing

Car Dealer Lied About Financing

“You have to stop lying and misleading people and be honest like I am,” he said.

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He said his entire service costs buyers $699, but claimed the service would save drivers “thousands” on long-term contracts.

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The dealership said drivers who go directly to the dealership pay thousands more than customers who call the dealership from home.

Calling dealerships can encourage car dealers to meet with customers to offer better deals, he said.

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The Federal Trade Commission (FTC) has announced a list of major rule changes to prevent illegal price fixing by car dealers.

The FTC statement said the new four-string rule would force retailers to be more transparent about pricing and financing.

According to the FTC, drivers can expect to save $3.4 billion under the new rule, known as the Anti-Car Trafficking Act (CARS).

Car Dealer Lied About Financing

Experts say the rule will benefit drivers who depend on cars, especially military personnel who are paid above market rates.

Of The Biggest Lies Car Dealerships Tell To Make A Sale

“The Department of Defense appreciates the FTC’s CARS rule,” said Ashish S. Wazirani, Acting Director of the Department of Defense.

“A car is an important purchase for our service members and their families, and this CARS rule will help combat predation targeting our men and women in uniform.” Interested in CarsHome’s culture Latest reviews Español The genius behind the cars Bought Tech Racing Culture Cars Español We may earn a commission from links on this page.

While marques are hitting new cars left and right, the used market is seeing a thinner selection of marques. New inventory is strong, used cars are just as hot. But not all the savings you see are real savings. Some dealers are clearly lying about what you see as a huge savings. Don’t fall for it.

I saw this when I hit the car I was looking at. Being an old man myself, I checked out the 2019 Kia K900 at a local dealership. I only use Cargurus for car buying because of the features, the ability to remove wrecked vehicles, the ability to see price increases or if the car is in good condition. This particular K900 came as a good deal. The dealer is asking $40,300 with only 30,025 miles.

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Now, on the dealer’s side, this savings is presented to the customer as a huge savings. The seller claims the market value of this K900 is $48,145. Keep that number in mind because I’m not sure where the dealer has it. A “price difference” of $7,845 is shown as a small savings, resulting in a selling price of $40,300. Here’s the problem.

Firstly, the market price offered by the dealer here is very arbitrary. They pulled them out of their ass. I don’t know where they got it from and this price is not the blue book price. A check on KBB.com shows that this K900 is priced between $36,583 and $39,060, depending on year, track and options. Things get even better when you check out Kargurus.

Since March 21, the price of the car has increased by more than $5,400. Gymnastics cost to save money.

Car Dealer Lied About Financing

This also happens at the lower end of the market. Get the 2019 Nissan Sentra at your nearest local dealer. The dealer says the retail price is $23,977 and the sale price is $21,488 with a dealer discount of $2,489. Like the K900 and the market price, this “retail price” is fully adjustable. According to KBB, a 2019 Sentra with over 50,000 miles is just $16,193, down from $17,886. Of course, if you check Cargurus, you’ll see that it costs over $2900.

Don’t Fall For The Price Lies Dealers Have Been Telling

So if you’re in the market for a used car, take note of these trade-in savings. Go with your own information about car prices. MSRPs are already ridiculous, dealers seem to have made the market prices ridiculous. You may be wondering what to do if a car salesman lies to you. Here is another blog we did about Top 10 Dealer Scams

Unfortunately, it is common for car dealers to lie or mislead customers. Customers often do not discover false or inaccurate information until they sign a contract.

Car Dealer Issues Whitney, LLP deals with buyers who are being lied to by car dealers and need help. We help car buyers fight back and sue dealers for mistakes, lies and fraud. Our auto dealer fraud attorneys have sued new and used dealerships in Maryland to recover bad contracts and recover damages.

We provide legal advice. Call 410 583 8000 or use our quick contact form to discuss your potential issue. For more information visit our YouTube channel here.

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Dealer lies often come in the form of misrepresentation or withholding information. Sometimes this unsaved information is crucial to sales.

1. Seller says they need to purchase a vehicle service contract or other financing option.

2. The seller withholds important information from you that affects the demand or price of the vehicle you are purchasing. For example, they will not say that the vehicle was previously a rental car.

Car Dealer Lied About Financing

3. You are charged a monthly payment with non-approved accessories, not just the cost of the vehicle, taxes and interest.

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5. You get an old Carfax report that is clean when pulled over, but shows something on the vehicle. For example, the seller drove it and had an accident.

This is a scam that dealers often fall victim to. In this scenario, the dealer sells the vehicle to you on an approved payment plan. The dealer lets you take the car home if you lie about the financing being approved.

A few weeks later, the dealer calls you to tell you that the original financing was declined. They ask you to go in and approve another financing plan, but it’s a bit expensive. The dealer believes the buyer is unwilling or unable to keep the vehicle in their possession for several weeks.

If a car dealer has lied to you, consider taking legal action. If dealers lie to you once, they will lie to you again. It is not in their best interest to improve the situation and they often ignore customer complaints. They rarely see the problem.

Bc, Canada) Used Car Dealership Lying About Financing

If you have been lied to or victimized in an auto transaction, the auto fraud attorneys at Whitney, LLP can help you fight back, get bad deals, and secure compensation.

How can we help you with your car dealership problem? We provide legal advice. Call 410 583 8000 or use our quick contact form to discuss your potential situation. The next two months are the best time of the year to buy a car. September and October are model change season when new model year cars arrive and older cars get a discount. It’s no coincidence that this is a time when many are asking: Are my car dealers lying to me?

“Dishonest can happen anywhere,” said automotive expert Lauren Fix. “The key to dealing with these situations is to state the facts and overcome emotions, no matter how difficult that may be.”

Car Dealer Lied About Financing

Consumer confidence in car dealers has fallen recently. According to an annual survey by Cox Automotive, only 61% of Americans believe their dealership is the best value, down from 65% in 2017. About a third of buyers are not satisfied with their car purchase.

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Let’s take a look at some of the lies some car salespeople tell you. I will explain how to find them and how to respond. So if you find yourself at your dealer looking for a new set of wheels this fall, no one can steer you wrong.

I have a unique perspective on this matter. As a consumer lawyer, I handle a good number of car cases. Many drivers claim that car salesmen lie when buying a car.

They are not alone. The Federal Trade Commission this summer accused a group of four car dealers operating in Arizona and New Mexico of engaging in illegal practices. These include falsifying consumer income and misrepresenting payment information and key financial resources for vehicle financing.

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