5 Ways Dealers Can Scam Both Car Buyers and Lenders
Tom Richardson had bad credit. His credit score dropped to less than 600 last year when he had a workplace accident and he had to go on disability. With the crippling debt of the hospital bills mounting, and the $75,000 in student loan debt he had to pay back there was no way he could […]
Car Dealer Slapped With Massive Fine for Loan Fraud
Hallman Chevrolet in PA was slapped with a massive $2 million dollar fine for loan fraud this week. If you factor in the average profit they might make from selling a car of $2,000 that means that the dealership is going to have to sell about 1,000 cars to make up for the huge fine […]
Car Dealers Beware of Auto Loan Fraud
Auto Loan Fraud is a big problem here in the US and growing. Annual estimates are that approximately $6 Billion in car sales are made and financed with a loan containing some fraud on the application. That is a big number. And lenders are looking for any ways that they can reduce that fraud. Many […]