Handling Pressing Legal Matters for Business Owners and
Individuals, with Speed, Knowledge, Experience and Professionalism
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Car Dealer Fraud?
We Can Set Things
Straight
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Burke & Mayfield
5535 Fredericksburg Road
Suite 230
San Antonio, Texas 78229
Tel: 210.979.7451
Fax: 210.525.8699
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Car Dealer Fraud
Don't Stand for it--Don't Be a Victim
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- The car dealer qualifies you for a loan, you sign all the required
documents and you take your new car home
You enjoy the car for a few days or weeks, then, the dealer calls the consumer and tells her to
return the car or requires the consumer to alter the terms of the transaction. Usually, the
dealer tells the consumer that the dealer was not able to obtain financing. Knowing the
consumer would prefer to stay in the vehicle, the dealer then refinances the vehicle at a higher
rate than the consumer can afford.
- A few days or weeks later, the dealer calls you back and informs you
that "your loan was not approved"
- Dealer tells you your options are to return the car, or buy the car at a
different interest rate--which greatly increases your monthly payment.
- The dealer knows you want the car and will pay the higher monthly
payment
