Many Maryland residents either want or need a newer automobile, so they search for the best deals. Some automobile dealerships will try almost anything to get you to buy a car, even resorting to deception. Here’s a closer look at a few ways that automobile advertisements can mislead consumers.
Buying a car below invoice price
You’ve likely seen auto dealership advertisements offering below-invoice prices. This means that a dealership is promising that you’ll pay less than the dealer did for a vehicle. However, no dealership is going to lose money on what it’s selling. Instead, these deals usually happen because a dealership is getting rebates or incentives from automobile manufacturers and using those to lower the price.
Most people find themselves held back from getting a new car because they don’t have a down payment ready. Considering that, automobile dealers will create zero-down-payment offers to incentivize shoppers. However, these so-called deals usually come back to haunt consumers when they have to pay higher interest rates. These types of deals can sometimes lead to auto dealer fraud and lemon law claims.
Paying an extremely low per-month rate
Another misleading way to sell vehicles is by offering suspiciously low monthly payments. However, lower monthly payments also allow a loan to last longer. When this happens, it can lead to you paying more toward interest than you intended to.
It’s important to watch out for misleading automobile advertisements. If you were the victim of fraud by an automobile dealer, it might be wise to contact a lawyer. By doing this, you may get help seeking the compensation you deserve.