Did you know Automobile Dealer Fraud is ranked as the number one consumer complaint throughout the nation? Dishonest car dealers are deceitfully swindling average consumers of thousands of dollars.
Here is a partial list of Dealer Fraud:
- The First Big Lie – “We are working on getting you financed.”
- The Call Back from the Dealer “We are having trouble getting your loan approved” or “The bank requires you to sign more papers.”
- The Legal Mumbo-Jumbo of the RISC relating to the Dealer’s Right to Rescind
- The Down Payment
- The 4 Square
- Selling Etch or Phantom Footprints or other Theft Protection
From my perspective, having sued hundreds of car dealers and the banks that allow the fraud to continue, the system is out of whack. Everyone at the dealership is working on commission. The more the dealer charges you, the more profit he makes and the more the bank makes. Your finance company works for the dealer – not you. So the bank is not there to help you – it is there to help itself – and the dealer.