Wow, Who Could Have Seen This Coming?
New York Attorney General slaps dealers for Cash for Clunkers fraud
As reported on Consumer Reports Money blog, New York Attorney General Andrew Cuomo slapped cease-and-desist orders on almost 40 dealers across the state for running ads that, as the statement from the AG’s office reads, “mislead consumers into believing that their trade-in vehicle qualifies for the program when it does not or that they are eligible for a several-thousand-dollar rebate, when they are not.”
As Lawrence pointed out in his post, below, Cash for Clunkers has been an unqualified success. And when there’s that much money flying around in the form of new car sales, some people will try to get their hands on it by underhanded means – most of us already know that.
The lesson we should take away from this, however, is that it always, always pays to do your homework. Cash for Clunkers helped, yes, but car sellers and dealers are still hurting, and anyone in a market for a car – even after Clunkers ends – is going to be inundated with offers and deals that promise everything under the sun. So get the background information you need. Know the true value of your used car, or the new car you have your eye on, by checking out Kelley Blue Book. Get reviews on your local car dealerships at dealerrater.com (though keep an eye out for overly glowing reviews – they were probably penned by shills for the dealership itself) or by visiting the many forums that cater to enthusiasts of different car brands. Make sure to test drive any and all vehicles. And if it seems too good to be true… well, you know the rest.
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