Re: Yo-yo scam exploits credit-cha
[ Edited ]
llenged car buyers
04-13-2012 12:49 PM - edited 04-13-2012 12:50 PM
Best bet IMO is what I always do.... Have a pre-approved Auto loan from a bank or Credit Union in hand before you go "serious" shopping. I have no problem letting the dealer try to beat my in hand loan, if they do I'll go with the dealer's source, but if they can't or they try to play games - the loan is already "bought" so you are covered.
In my experience, having purchased a lot of cars over the last 40 years, about 50% of the time the dealer can beat the in hand loan, and I'll also say I've never had a loan deal "go bad" after the papers are signed.