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Buying a new or used car is a major investment, both in money and in time. After researching the right car, scouring dealerships to find the one that you want, and spending the day in negotiations, it’s easy for buyers to get caught up in the desire to get the purchase over with and drive away. That’s why the experts at Indy Car Financing have prepared this brief summary of the most common auto financing dealer scams Speedway shoppers might see. Study it carefully and be ready to negotiate like a pro when you’re ready to shop for your next car.
5 Ways Auto Dealers May Try to Swindle You Into an Unfair Contract
Some car dealers don’t rely on high-quality products and services to make their profits. Instead, they rely on their ability to cheat consumers. Some of the things to look out for include:
- Lack of Information – Know what you want and what you should be expected to pay before you step foot onto the lot.
- Focusing on the Payment Plan – Dealers can offer you the payment you want and then stretch out the contract length, costing you more over the life of your loan.
- Paying Off Your Trade-in – The dealer promises to pay off what you owe on your old car so that you can buy a new car at their dealership. Odds are they’ll just add that payoff to the new loan, leaving you owing far more than your vehicle is worth.
- Pressuring You to Sign Now – Typically, unless time-sensitive offers are in play, you’ll get the deal if you come back tomorrow – so go ahead and shop around.
- Bait and Switch – Dealers often advertise ridiculously low prices on popular models only to tell customers that the item is sold or that it’s a stripped model that will cost thousands to outfit.
Trust Indy Car for Auto Financing
At Indy Car Financing we’re committed to making sure our customers have all of the information they need to make the right decision about their next new or used car purchase. We’ll show you all of your documentation and make sure you understand everything and are comfortable with what you’re signing. Contact Indy Car Financing online or at (855) 468-6215, or come see us in person at Speedway Chevrolet located at 5252 W 38th St in Indianapolis.