Try to avoid get finance from the dealer

United States
May 26, 2011 8:15pm CST
I read news about this scam going on for while. When you go to the dealers purchase your car, no matter new or used, you might consider take out a car loan. The dealer usually would provide the loan themselves, in addition to afford all sort of warranties. When you come to their finance department, the person would show you all the information, interest rate and other offers on the computer screen. When you agree, they print out the copy. The only difference is that, the offer on the computer screen is totally different from the print out. After you sign the paper, you were totally trap. So, usually, people would advice, either you have to read the contract or agreement on the paper once again before sign anything; or take out a loan from your own bank or credit union. Do not trust those dealers.
2 responses
@ravisivan (14055)
• India
27 May 11
I think it should always be economical to borrow through banks rather than thro dealers. that is the situation in India. It must be so in USA also. My other friends inform in this regard. However it is true we are supposed to go through all the terms and conditions before signing papers. At least have discussion on main points get them clarified and then sign. have a good day
@stephcjh (32328)
• United States
27 May 11
Wow. You just cannot trust anyone anymore, it seems. I try to always read stuff before signing anything. There is just too much fraud, especially these days.