Bad Credit

The 4 Most Important Things You Need To Know About "Bad Credit" That Could Save You Time And Money!

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Top 5 Dealership Scams:

1. The VIN# window etching scam

Basically a dealer will charge you $300-$900 for window etching and they will tell you that you have to pay the money to get the loan because the banks insists on it.

Some dealers might tell you that the etching is free but will add on the etch money to your monthly payments to make up for it.

The best way to avoid this scam is to force the dealer to put it in writing if they say that the etching is free or simply etch the car yourself.

Remember a lender doesn't require that you purchase any extras on a car. All the lender cares about is that you can make your payments on time regularly. Don't buy into it.

2. The Financing Scam

I have mentioned this before already, but here it is in more detail.

Basically you trade in your old car and the finance manager tells you that your interest rate is good and then gives you the car.

After a week or two passes you get the call from him that you didn't qualify for the interest rates that they gave you upon making the deal.

Every new purchase has a clause in the contract that usually states that the deal is "subject to loan approval."

This gives the finance manager a loop hole in getting more money out of you.

All that this means in the contract is that the deal is not finished yet even you already have possession of the car and have signed the contract.

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The dealer can then charge you $1000 more in finance fees and up your monthly payments by $50.

This scam is generally pulled on people with bad credit because it is more plausible.

If you are wondering why they would sell you the car at 6% APR if they knew you had bad credit (remember they ran the credit search already) the answer is simple; to sell the car.

You can avoid this scam by not financing the car with the dealer if you know that you have bad credit.

You are better off going to a credit union and financing the car yourself. When you buy a new car the deal should be made on the price of the car, not on the monthly payments.

3. The Credit Score Scam

This scam is ridiculous at best. This is when the finance manager tells you that your credit score is lower than it really is so that they can get you for higher interest rates.

This scam is pulled on everyone; good or bad credit.

This scam is easy to avoid. Just get your own copy of your credit report from Equifax.com, and bring it with you.

It is really difficult to lie to you about your credit score if you have your own copy of it. If your paper and theirs doesn't say the same thing, go somewhere else because that dealership is lying to you.

Don't forget to let them know it too because it'll be nice to watch them squirm.

4. The Forced Warranty Scam

This is when the finance manager tells you that you are not eligible for the loan by the bank unless you pay an extra $2000 for a 2-3 year extended warranty.

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This scam just doesn't make sense. Basically the finance manager is telling you that the bank won't trust you to pay the $20,000 loan for the car, but they will trust you if you pay even more money. That's just stupid.

You can avoid this scam if you can force them to put it in writing that you "have" to pay the extended warranty in order to get the loan.

That way you can bring a copy of the contract to your local State's Attorney's office to verify that the deal is valid. I can bet that the finance manager will change his tune pretty quickly.

5. The Dealer Prep Scam

Let me first let you know that cost is not only legal but very much common practice. I still refer to it as a scam because it is just another way for you to end up paying more money for the car.

Basically the dealer will tell you have to an extra $500 to cover the labor costs of the dealership's 5-point inspection.

You are paying for the time it took for the dealership to make sure that the car wouldn't explode on you in the first week of owning it.

This check up that you are paying so much money for is for the dealership to remove plastic from the seats etc, vacuum the car out, and making sure that all of the fuses and fluids are ready to go.

When factories deliver the new cars to the dealerships the cost of delivery and prep is already covered, so basically you are paying the dealership for work that they haven't really done.

I swear they could get the car in perfectly ready to drive condition and put everything right back in it just so that they can make you pay the fee again.

You can avoid this scam by simply asking the dealership to add an extra $500 credit to the deal to make sure you do not have to pay the money.

If they refuse, you can then decide if the car is worth the money. If it is fine; buy the car, if not; go to another dealer that will remove the dealer prep costs.

You're free to publish this article as long as you included the Author Bio with an active link to the author's site http://www.muscle-cars-online.com.

Ray Corbett

Editor - Bad Credit Facts, Information Resources And Benefits

More Links And Related Information For Bad Credit

The Single Most Effective Method You Can Use To Do A FAST Cost Or Benefits Comparison That Will Save You Both Time And Money...

Just as a search on Google connects you to the information you're looking for, 'Ads by Google' provides links to products and services that are relevant to your Bad Credit search results. Recent studies have shown that the click through rates of organic search engine results and the click through rates of ads are virtually identical! Since click through rates are to some degree an indication of customer satisfaction, this is a remarkable statistic. As a result of these studies, our pages have been optimized to bring you only the most relevant and informative links from Google for websites pertaining to your Bad Credit search. Some of these resources are listed below...

The Four Most Important Things You Need To Know About Bad Credit That Could Save You Time And Money!...It's All About Integrity And Service.


	1.) Is the website reliable? A high search engine ranking usually indicates a website of substance and quality. Search Engines don't rank sites for integrity. However, they do rank them for the overall accuracy and relevancy of the sites' content, and this it what is important to you. Also, it never hurts to check with the Chamber of Commerce to see if there are any complaints from former customers.

	2.) What is the website's Privacy Policy? All trustworthy websites have a Privacy Policy statement that states their legal position with regard to the use of your name and personal information. The privacy statement is usually located on the home page at the bottom navigation bar. You do not want to provide your email address, only to be constantly spammed by a company's email advertising campaign in the future. What's worse, some disreputable companies sell the email addresses they have collected to other online companies, including porn sites. Read the Privacy Policy carefully before you provide any detailed personal information.

	3.) Does the company have a Terms Of Service agreement on their website? After you have selected a Bad Credit Website, read their Terms Of Service Agreement, usually located in the bottom navigation bar of the home page. This agreement will cover the responsibilities of the Bad Credit provider if you choose to use their products or services. If you don't see a terms of use or service agreement on the home page, ask for a copy to be emailed to you.

	4.) Does the firm advertise with Google, Yahoo or MSN? Simply advertising with one of these search engine giants isn't a guaranteed a seal of approval. However, no Bad Credit website can advertise with the above companies without first being accepted as a client. The main criteria for all search engines is relevancy. Their advertisers must provide quality information related directly to the consumers' search objective. All major search engines have rules for their advertisers to attempt to prevent fraud.

	While following the above suggestions will not guarantee that you are dealing with a reputable company, it will increase the odds. Anything you can do to prevent being ripped off by a potentially unscrupulous company is definitely worth the effort, since you could easily save yourself and your family hundreds or even thousands of dollars by dealing only with a reputable company. Consider some of the resources on this site and check them against the rules above. Step #4 has already been done for you, as all of our listings are clients of Google. Most of the information you need to check - other than rule # 1 above - can usually be found on the first page of the site...simple and fast. It's worth the little extra effort.

Finally, and most important, the most accurate information for Bad Credit is based on many variables and can vary considerably. Check with several online resources to insure that you are getting the best information possible for your situation.

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