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This is often used for cash buyers. 9. They will then ask you what you are looking to pay each month; this is where the extra money comes in. Of course the dealership can add the cost on to your contract with them at a substantially higher rate. The Dealer Prep Scam Let me first let you know that cost is not only legal but very much common practice.
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To get around this, you have to know the dealers language. These cars are flying off of the lot. This scam is generally pulled on people with bad credit because it is more plausible. You do not want to set yourself up as a monthly payment buyer either because that is a guaranteed way for you to get a higher payment fee. A good deal is a win, win situation for both parties.
Whenever you are considering getting a new car, you should be sure to bring all of the information that will help you to get the best deal you can.
This will all be included in your folder. Here is a list of all of the information that you will want to include in your folder.
A copy of your credit report from www.Truecredit.com
New car purchase prices for the cars that you are considering from www.autousa.com
Accurate pricing data, rebates, tips and incentive from www.FightingChance.com
Credit pre-approval in writing from www.e-loan.com
Insurance quote that cover the coverage that you want on your loan
Used car blue book that has used car information and market values
Extended warranty quotes from www.warrantydirect.com
Current loan rates that are in your local paper
Bringing all this information with you will literally cut the legs out from under the dealer. It shows that you are one step above the various scams that you will encounter.