- New Report -
Rip-Off Nation:
Auto Dealers' Swindling of America
Car-dealer
fraud is plaguing our country. Auto buyers are being taken to the bank to
fill the pockets of unscrupulous dealers. The tactics used are so sly that
even informed consumers who did their homework are being taken for hundreds,
and often thousands, of dollars. Evidence from recent litigation and an
industry insiders shows that it is very likely that this rot is not
restricted to a few areas or dealerships. Customers have been robbed on
both coasts and everywhere in between: Dateline recently reported
that an investigation revealed that car dealerships have been charged with
fraud and deception in 39 states. Our report gives more detail on some of these
cases, and shows how consumers are getting ripped off, in painful
detail. It is intended as a manual for law enforcement, and to inform
consumers of some of the tricks of the trade. While many consumers may
suspect that auto dealerships do not always operate on the up-and-up, the
size of the purchase, the flurry of paperwork, and the complicated financial
relationships make them particularly vulnerable to the schemes developed by
dealerships to squeeze the maximum profit from every deal. Public Citizen
does not believe that graft is necessary for auto dealers, as an industry,
to remain economically viable. Our report also suggests legislative
remedies that would greatly enhance the transparency and accountability of
auto dealerships to consumers and financial institutions.
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