Tips to Avoid Scams in Auto Financing in Wentzville
May 20, 2016
Unless you are an employee at an auto dealership yourself, the process of purchasing a used vehicle can be a bit overwhelming. Many people only purchase a few cars in their lifetime so the experience comes with some uncertainty. Here are a few tips to avoid being scammed when contemplating auto financing in Wentzville.
- Always complete the financing process at the dealer before you leave. One popular scam is to draw you in for a low interest rate, then after you drive home you are notified that you did not actually qualify and are charged a much higher interest rate.
- Know your credit score before car shopping. This prevents unscrupulous dealers from stating that your score is lower than it really is.
- Get at least the minimum warranty available from your buy here pay here auto dealer. This provides protection, especially for those “as is” purchases.
- Do not fall for a straw purchase. If a dealer says that you must have a co-signer to qualify, walk away.
- Be wary of dealer preparation fees. While there are legitimate costs to readying a used car for sale, many dealerships mark up the fees excessively. Bargain with the dealer to remove or at least lessen the costs.
To be certain that you are getting a quality used vehicle and affordable, honest auto financing in Wentzville, shop at 5 Star Auto Plaza. Our stellar reputation in the area speaks for itself. Give us a call at (636)940-7600 to discuss our inventory and financing options for your particular situation.