Car Buying Tips: 3 Scams to Avoid

Buying a car is an awesome experience and a long-term investment as well. In many cases, scams are involved and some are so hidden you will go without noticing. However, there are genuine dealers as well, to give you the car of your desire whether new or used. Before you approach car dealers Brisbane has to offer, here are three types of frauds often involved in a car buying process.

Car dealers brisbane
Car dealers brisbane

The negative equity car fraud

This type of fraud is usually prevalent when you purchase a new car with a trade-in. For many buyers, the excitement of parking the car in their driveway often overrides the ability to observe the details. In the end, a buyer ends up with a negative equity on the current car.

With their sales techniques, a dealership may organise the loan for the new car in a way that includes the money that you owe on the old car. Before you realise, you pay for two cars and not just one. When you approach car dealers Brisbane has to offer, you need to get the right answers regarding trade-ins.

The disappearing trade-in fraud

In this type of fraud, your trade-in can simply disappear in the maze of numbers and paperwork. It usually happens when your trade-in vehicle has a little value. Fortunately, you can guard against this problem by ensuring that the trade-in value reflects in the final buying price. You should also make sure that the dealership lists it as one of the items that constitute the final buying price of the car.

The false escrow scam

This fraud is associated with online car-buying processes in which Escrow accounts are used. When you visit car dealers Brisbane has to offer, ask about their policy regarding escrow accounts. The account is usually meant to hold the funds until the car is delivered to the buyer.

If for example, you want to purchase a used car, you can see an advert with an affordable or rather too low price. Since the price seems excessively low, many buyers are lured to the fraud. In some cases, the scammers go as far as duplicating the websites of reliable dealers and advertise cars with irresistible prices.

When the price is too low, usually there is something hidden. In this case, you may be asked to deposit funds in an escrow account or another account that is not of your choice. In the end, you may lose thousands of dollars in your bank account. To avoid this type of scam, you should deal with a renowned dealership.

Choosing a dealership

In Beaudesert, you can engage reliable car dealers for a new or used car purchase. Recognised car dealers also provide car servicing special offers. You can find information about this from Beaudesert service departments. Besides, buying a car from a dealership in your area is more cost-effective that buying from one located miles away from the locality.

Dealerships in Beaudesert have a wide range of vehicles at their disposal including Mitsubishi, Hyundai, or Ford. Try visiting this website for additional information regarding Beaudesert service departments.