Auto Financing Secrets That They Might Hide From You At The Dealership

Most car dealers are very corrupt likewise car salesmen. As an individual who intends taking up an auto financing loan it is recommended that you should watch out for the following scams that they might try to pull on you at the dealership.

Credit score – As an individual who intends taking up an auto financing loan it is recommended that you should get your credit checked before applying for an auto financing loan instead of relying on the auto lender to tell you your credit score. The trick here is that because most lenders might want to defraud you and make money off you, they might lower and falsify your credit score so that you would end up taking up a bad credit auto financing loan.

Extended warranties scam РIf you have bad credits, most car dealers would use and exploit you into signing an agreement to buy extended warranties from them or their affiliates on the condition that they would assist you to get approved for an auto financing loan. As an individual who intends taking up an auto financing  loan, to cut down cost, you need not buy or add extended warranties to your auto financing loan.

Cosigner scam – When applying for an auto financing loan with bad credit, the cosigner scam is something that you should absolutely watch out for. Most lenders would pull a fast one on you and trick your cosigner into signing as the beneficiary of the auto financing loan when in reality he is not.

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