Car Financing Scams to Avoid

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Car Financing Scams to Avoid

Being able to buy the desired exotic motor just can’t get better! However, financing scams can turn the excitement of owning the precious four-wheeler into a complete horror. Car financing scams are not uncommon in the United States, even when buying a rare exotic motor. As a matter of fact, the more expensive a car, the more money a dealer can make out of these scams.

Ultimately, there are two ways to avoid car financing scams and find a deal that promises best value and satisfaction. First of all, you need to find an honest and reputed exotic car dealer. Since most of the exotic motors like Ferrari, BMW and Lamborghini are of European origin, only the best dealer can ensure they reach the United States. Exotic Motors Midwest ensures that their customers get the car they want plus the best value and satisfaction.

Secondly, you must educate yourself regarding the financing scams that dealers would normally try to lure you into. So, here are some of the most common car financing scams to look out for. Scam #1- It is a very common scam often referred to as yo-yo financing. This scam becomes possible when dealer allows the customer to take the car home as soon as it is bought. A few days later they call the customer to tell them that the financing terms have been changed. This way they force their customers to helplessly pay more than initially decided. Scam # 2- Many exotic car dealers add extra cost for things that have already been paid by the manufacturers.

For instance, they might ask you for a car preparation fee. The preparation is hardly anything more than removing the plastic protection from your exotic motor. Scam # 3- This one is an extremely common one. Many dealers will ask you to pay around $300 to $500 to get the VIN number etched on the window. Many customers pay the price or a little less after negotiation because they don’t realize how cheap a DIY window etching kit could be. Scam #4- Another very common and popular way of making the buyer pay more than the MSRP is to charge the market adjustment fee. They charge this fee from you because your selected model is quite popular- it is an exotic car after all. Don’t fall for this scam and refuse to pay more than the manufacturer’s MSRP.

About Exotic Motors Midwest Exotic Motors Midwest is the premier automotive dealership in the Midwest, specializing in Ferrari, Lamborghini, Porsche, Bentley, Mercedes-Benz and Audi. Centrally located in St. Louis, Missouri, Exotic Motors Midwest provides an unmatched quality of service and support to its clients throughout the Midwestern region. For additional details about Exotic Motors Midwest, visit http://www.ExoticMotorsMidwest.com/viparticle or call (314) 561-9766.

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