by Roberto Beiro

As it is already challenging purchasing a new car, you really don’t want the added pressure that some car dealers can put on you. It is normal to haggle with a dealer to lower their price, but don’t get caught out by scams designed to con you out of your hard earned dollars. Below I have listed some of these scams for you watch out for next time you are in the market for a new vehicle.
1. The VIN# Scam involves the dealer trying to charge you for having the VIN# etched on the window, citing that it is required by the finance company. This is total rubbish. Lenders are only concerned with your ability to pay the installments.
2. Watch out for the phrase "subject to loan approval". All car loan proposals will have this phrase in it and there are a few unscrupulous dealerships out there that will try and con more money out of you by quoting this phrase as the reason why. If you have good credit this isn’t something for you to worry about. This scam is usually pulled on consumers that may have bad credit, and can mean added finance fees of $1000 or more and an additional $50 a month added to your monthly payment. Getting your car loan from a bank or other financial institution can save you from being caught out.
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