Financing > Tips On Dealing With Auto Fraud

Tips On Dealing With Auto Fraud

by: Rishi Chawla

The auto industry and their dealers are rife with scams and fraud and the potential buyer needs to be armed with the knowledge of how these scams work and how to avoid them. There are many dealers that run reputable businesses and can get buyers into a vehicle without using fraudulent means, but there are always those individuals or companies that are looking for ways to take consumers for a ride. The state of California, San Diego and Los Angeles in southern California in particular, is home to many of these scam artists. Even smaller states like Oklahoma have their share of fraud cases and attorneys there are as busy as lawyers in the larger California market. If you are fortunate, you won't be a victim of one of these disreputable dealers, but it is wise to be aware of potential scams before you head to the dealer. Here are some tips on dealing with auto fraud.

People with bad credit are often the victim of fraud at dealerships. They are easy prey, often due to the fact that they believe they cannot get financing. The worst offenses usually occur in the finance office, where the potential buyer often lets their guard down. One way to lessen the chance of being scammed is to show up with no trade and to have your financing done through your bank, with a bank draft in hand.

One of the most common frauds committed by car dealers and one that attorneys see frequently brought to them is the advertising fee scam. Dealers slip into the contract an advertising fee. Often times the advertising fee is on the factory invoice. Dealers add in a second advertising "fee" which becomes pure profit for them. The way to avoid it is to simply ask that it be taken off the contract. If the dealer tells you that the factory doesn't charge them an advertising fee, have them show you the invoice. If there is no fee on the invoice, which is unlikely, it is okay for the dealer to charge between 1% and 3% of the Manufacturers Suggested Retail Price or MSRP for an advertising fee. If it does not appear on the invoice, then the fee is completely negotiable. If it does appear on the invoice, then that is a case of dealer cost and is not negotiable.

If you feel you are the victim of auto fraud, the best way of dealing with it is to contact a lawyer and learn what your options and rights are. If you have a good case, a lawyer will have no problem presenting your grievance to the court.

About The Author

Rishi Chawla has a informative site on lemon law for owners of defective cars.

http://www.your-lemon-car.com/

Student Loan Options For Financing Your Education

Student Loan Options For Financing Your Education

by: Sintilia Miecevole

When you begin applying for colleges, you will find that tuition and boarding fees are extremely expensive. Unless they are independently wealthy, few people can pay for college outright. If you do not qualify for scholarships, financing your education can seem virtually impossible, even with the help of regular financial aid grants. However, there are many low interest student loans available for students that qualify for them. Rather than putting off your education, you can borrow money and defer payment until your have graduated and have found a full-time job with which you can pay back what you owe.

The first step toward applying for student loans is to fill out a financial aid application form called the Federal Application for Student Financial Aid. Once you have been accepted to a college or university, you will be sent a packet of financial aid information. You...

Student Loan Options For Financing Your Education

Financing > Student Loan Options For Financing Your Education

Financial Incentives for Your Business to Use Solar Power

Financial Incentives for Your Business to Use Solar Power

by: Rick Chapo

When it comes to running a business, much of the necessary focus is on the bottom line. Many businesses, however, fail to realize they can seriously cut energy costs by going solar.

Tax Incentives

Federal and State governments know the best way to initiate change is to provide an economic benefit. When it comes to energy, governments try to make the use of solar energy as economically attractive as possible to businesses. This is done through granting tax incentives in the form of tax credits and deductions. Depending upon which government agency is involved, federal or a particular state, corporations can get tax credits and deductions ranging from 10 to as high as 35 percent of the cost of purchasing and installing solar energy systems.

Net Metering

On top of the tax incentives given to businesses for going solar, a majority of states now offer incredible...

Financial Incentives for Your Business to Use Solar Power

Financing > Financial Incentives for Your Business to Use Solar Power

Financial Incentives for Your Business to Use Solar Power

Financial Incentives for Your Business to Use Solar Power

by: Rick Chapo

When it comes to running a business, much of the necessary focus is on the bottom line. Many businesses, however, fail to realize they can seriously cut energy costs by going solar.

Tax Incentives

Net Metering

On top of the tax incentives given to businesses for going solar, a majority of states now offer incredible...

Financial Incentives for Your Business to Use Solar Power

Financing > Financial Incentives for Your Business to Use Solar Power

Locating a Down payment

Locating a Down payment

by: Jennifer Hershey

If you are a saver, and many of you are, than the need to locate a down payment will not be an issue for you.

But there are also many of us out there that have not had the luxury to save as much as we would have liked for various reasons. With this challenge at hand, we will need to track down a source for a down payment.

If you have excellent credit, and when I say excellent, I mean your credit history is perfect without a blemish on it, you will most likely be able to apply for a mortgage with 100% financing, if you choose to go that route.

A lot of lenders offer this product, and if you can swing it, than you won?t need to come up with any cash for a down payment, and you will only be responsible for closing costs.

If you are unable to go with 100% financing, here are a few ideas you might look into to come up with a down payment.

Retirement Plans

If your employer...

Locating a Down payment

Financing > Locating a Down payment

Finance Your Real Estate Investment Properties

Finance Your Real Estate Investment Properties

by: Peter Dobler

Unlike traditional residential real estate mortgages, real estate investment financing is way more creative and offers more options than you think. The golden rule in real estate investment is OPM (Other People?s Money).

I have enough money; shouldn?t I buy my real estate investment for cash? No, I absolutely advice against investing large sums of cash into a single real estate investment. There are two reasons why not. First, you give away most of your profits by not leveraging your real estate investment. Second, it is far too risky to put every egg into one basket.

Let me explain the leverage issue for a moment. I will give you an example of a $100,000 investment property that typically increases its value (appreciates) by 7% average a year. Maybe more, maybe less depending where you live. Paying all cash for this property will yield in a 7% appreciation profit plus the...

Finance Your Real Estate Investment Properties

Financing > Finance Your Real Estate Investment Properties

Avoid Playing Auto Financing Poker

Avoid Playing Auto Financing Poker

by: Daniel DeHaven

Finance departments are where dealers make most of their profit (well, financing and after-market products).

Their profit lies on something called the "Finance Reserve." That is the difference between the interest rate the dealer is offering you and the lower interest rate (called the "buy rate") the bank offers the dealer.

For example, lets say you have a credit score of 700. The finance manager offers you a conventional loan through Generic Bank at, say, 6.9%.

But what you don't know, as you sit there negotiating, is that the dealer already has a standing arrangement with the bank that says that any buyer with a credit score of 700 can have a loan at 4.9%. If you go for the 6.9%, the dealer keeps the other 2%. That's the "Finance Reserve." For the dealer, it's just gravy. Cash in his pocket.

Most banks cap a dealer at 3% over the "buy rate," but not all do. According...

Avoid Playing Auto Financing Poker

Financing > Avoid Playing Auto Financing Poker

?Why You, Why Now? - A Critical Component of a Winning Business Plan

by: Dave Lavinsky

Business plans continue to be an essential element of the capital-raising process. They must convince investors to take notice - investors that are shrewder today due to the ups-and-downs they have experienced over the past few years.

Adding to the financing challenge is the plethora of high-quality companies, both public and private, in which investors can choose to invest. In this environment, more and more investors are asking companies seeking capital the question "Why You, Why Now"?

The question seems simple at first, but has many complexities. The management team must clearly delineate what it is about the business opportunity that makes it such a good investment now. Should this investment have been made a year ago to cement a market leadership position? Or, is the venture before its time - will slow market adoption cause slow sales over the next...

?Why You, Why Now? - A Critical Component of a Winning Business Plan

Financing > ?Why You, Why Now? - A Critical Component of a Winning Business Plan