Monthly Archives: February 2019
The Used Car Rule
While many of the laws that protect consumers from fraud when purchasing used cars are passed by state legislatures, a number of rules were also put in place by the federal government. For instance, the Federal Trade Commission (FTC) enforces a federal regulation known as the Used Car Rule, which requires dealerships to disclose… Read More »
Non-Disclosure and Affirmative Misrepresentations by Used Car Dealers
Most fraudulent activity that takes place during the sale of used vehicles falls under one of two categories: non-disclosure or affirmative misrepresentations. The first occurs when a dealer purposely withholds information that affects the value or desirability of the vehicle, while the latter involves taking a more active role in misleading customers. Fortunately, both… Read More »
Yo-Yo Financing Tactics
Of the many fraudulent tactics used by unscrupulous used car dealers, yo-yo financing is perhaps the most common and devastating to buyers. Yo-yo financing occurs when a buyer signs a contract, takes the car home, but then is notified weeks later that his or her financing wasn’t actually approved, and the car must be… Read More »
