The Automobile Center

People hate car dealers. Of course, there are always nice guys, but many car dealers just have to cheat their way to profits. Here are the top 5 auto scams that you absolutely must avoid, or risk paying way too much for your car.

Scam 1: The Yo-Yo Financing Scam
The dealer sells you a car and allows you to take it home immediately. You've applied for  Car Loans financing your car through the dealer, but a few days later, the dealer calls and tells you that your financing has fallen through. You are then told to set up new financing through the dealer, at a much higher cost to you, and a much higher profit to them. Avoid this at all costs! If you have bad credit, don't finance at the dealer. Arrange your own financing. If you finance through the dealer, never drive off your car immediately. You should wait at least 24 hours before taking your new car, so as to make sure financing is complete. This allows the dealer no way to play the scam on you....

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Applying for an auto loan? We'll sooner or later we will. So I wrote this short guide as basic must know guide to arm ourselves when the time for an auto loan comes.

1) Shop Online - Shopping for auto loan online is a great time saver. By comparing from different sites you can get the best deals. Applying also is easy and even some sites will give you information you need within minutes.

2) Know Thyself! - You must know the basic criteria for applying for Auto Loans. Basic criteria includes that you must be above 18 years of age. Best if you earn at least $2000 a month. Also needed is residence and employment history...

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