Yo-Yo car financing scams happen when the car dealer has you sign the sales agreement which is conditional until they get a final approval from a bank allowing you to drive home in the car. You might buy the car on Saturday or Sunday and the dealer tells you they can’t get a bank call [...]
When you buy a used car from a private party you need to check the vin or vehicle identification number in the drivers windshield. Then run a carfax.com search to see if it has a clean title and clean history. Here’s what scammers are doing: 1. They take a vin based on the same make, [...]
Car Subleasing Scam bilked $2.2 million from victims in Santa Clara according to the California Department of Motor Vehicles. Heres’s how the scam works; the owner of the car dealer would tell you yes I can lease you this BMW with $5,000 down payment and $738 per month. In reality this car was already leased [...]
I read an article by the North Carolina Attorney General Roy Cooper. Here are the top 10 complaints for 2008. The motor vehicle complaint was the most interesting to me. 1. Health Care: 2. Do Not Call/Unwanted Telemarketing Calls: 3. Lending: 4. Credit: 5. Motor Vehicles: We received 1,293 complaints from consumers who had problems [...]
In Linconln, Nebraska police said a man wrote a fake check in a car theft scam to steal a 1998 Chevy Suburban. The victim placed an ad in the paper like millions of other car owners. A man shows up with a fake name then test drove the suburban. He tells the owner he definately [...]
What if you worked hard and bought a new truck and paid $27,000 only to find out 1 year later the car was stolen and you were on the hook for the entire loan amount? FBI breaks up a $25 million car cloning ring in tampa florida, miami, chicago, and mexico city. Arrest warrants for 17 [...]