MEMPHIS, TN (WMC) - Don't secure auto financing or negotiate a car deal until you've added this to your file:
If you have trouble clicking on it, copy and paste it into your web browser.>>http://www.consumeradvocates.org/sites/default/files/images/NACA%20Auto%20Fraud%20Brochure.pdf
Not only does it offer detailed tips on making the deal and securing the loan, but it also reveals the blow-by-blow of the more common auto sales scams and how to fight them.
The document reveals details on auto sales scams like:
* YO-YO FINANCING (OR SPOT DELIVERY). For my investigation on yo-yo financing, click here.
* DEALER KICK-BACKS FROM LENDERS.
"These are some of the newer scams that are going on in the car market in Memphis," said Kevin Snider, founding attorney of Snider & Horner in Germantown, Tennessee, and a certified fraud examiner. "(Scams like) deal-packaging, financing schemes in particular with zero-percent interest. Be careful with these great deals because a lot of times, a great deal is not what it seems."