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The car dealership might charge you this fee if you buy a new car that needs to be delivered from another dealership. This fee depends on the location of your new vehicle.
“Always question any fee that’s not government-mandated or clearly explained.” Be Aware: 6 Used Cars To Stay ... The dealer lets you take the car, only to ring you up days or even weeks ...
The rule, which attracted sharp criticism from the National Automobile Dealers Association (NADA), takes aim at practices the FTC says costs consumers $3.4 billion annually and prolongs the ...
John M. McNamara (born 1940) [1] [2] is an American former businessman who was convicted of a Ponzi scheme fraud through gaining loans to a value of $6 billion from General Motors financing arm GMAC, to develop a $400M car sales and property development business.
The miracle cars scam was an advance-fee scam run from 1997 to 2002 by Californians James R. Nichols and Robert Gomez. In its run of just over four years, over 4,000 people bought 7,000 cars that did not exist, netting over US$ 21 million from the victims.
An advance-fee scam is a form of fraud and is a common confidence trick. The scam typically involves promising the victim a significant share of a large sum of money, in return for a small up-front payment, which the fraudster claims will be used to obtain the large sum.
"Dealer prep" is a fee commonly tagged onto itemized bills that unsuspecting buyers are prone to giving just a glance. Often $500 or $600, the fee supposedly compensates dealers for extra labor ...
A car dealer orders vehicles from the manufacturer for inventory and pays interest (called flooring or floor planning). Dealer holdbacks are a system of payments made by manufacturers to their dealers. [5] The holdback payments assist the dealer's ability to stock their inventory of vehicles and improve the profitability of dealers.