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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.
Here’s how to avoid the top five auto fees car dealerships trick you into paying for. Dealer Preparation Fee. ... not government-mandated or clearly explained.” Be Aware: 6 Used Cars To Stay ...
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 ...
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.
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.
The Federal Trade Commission (FTC) is cracking down on junk fees. The new rule is expected to save consumers more than $3.4 billion, the FTC said. The FTC's rule goes into effect on July 30, 2024....
Floor planning is commonly used in new and used car dealerships. [2] Contrary to common perceptions, most car dealers do not pay cash for the vehicles on their lot. [ 3 ] Even smaller dealerships can have an inventory of vehicles representing millions of dollars of capital investment .