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11/04/2011

How to Recognize When an Online Auto Deal is Bogus

Would you like to buy a 2009 Mini-Cooper worth more than $20,000 for just $10,300? My guess is that many of you would jump at the chance to get such a great deal. Would you wire $5,000 as a down payment to an auto dealer you found on the Internet to hold the Mini-Cooper, with the balance to be paid when it's delivered or you pick it up? My hope is that most of you would know better. But not everyone does. The FBI issued an alert in August about online auto scams. From 2008 to 2010, the FBI's Internet Crime Complaint Center received nearly 14,000 complaints from consumers who were victimized or at least targeted by these scams. Total dollar losses were nearly $44.5 million.

07/26/2011

Shopping Online For A Used Car? Beware Of Scams, BBB Warns

The BBB is warning consumers to beware of phony online used car dealers like Edward American Cars and Quick Auto Sales, which advertised deeply discounted cars online.

02/28/2011

6 Tips For Car Buyers

Investing in a car is a big responsibility. Whether you are a first-time buyer, a veteran at the dealership, or even a 16 year-old, buying a safe, reliable car that is also the right choice for your lifestyle is no easy feat. There is so much to consider these days (size, gas mileage, color, level of coolness), that often easy but important tasks are forgotten.

06/01/2004

FTC - A Dealer's Guide to the Used Car Rule

Most car dealers who sell used vehicles must comply with the Federal Trade Commission's (FTC's) Used Car Rule. In fact, car dealers who sell more than five used vehicles in a 12-month period must comply with the Rule. Banks and financial institutions are exempt from the Rule, as are businesses that sell vehicles to their employees, and lessors who sell a leased vehicle to a lessee, an employee of the lessee, or a buyer found by the lessee.


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