Have you ever agreed to a car deal only to find out that the financing terms have suddenly changed? Finance scams at car dealerships can leave you facing unexpected financial burdens and unfair loan terms. 

At Consumer Action Law Group, we specialize in protecting consumers from such unethical behavior in the automotive industry. Our team of experienced finance scam lawyers is dedicated to fighting for your rights and ensuring you receive the justice you deserve.

Detailed Service Description

What is a Finance Scam?

Finance scams involve deceptive practices by car dealerships to mislead consumers about the terms of their auto loans or financing agreements. This practice is part of auto fraud, which is illegal and can occur in various forms, such as:

1. Loan Packing: Dealerships add extra services like extended warranties, GAP insurance, or other add-ons without clearly informing the buyer. These extras are bundled into the loan, increasing the overall cost.
2. Interest Rate Manipulation: Dealers may offer an initially low interest rate to entice buyers but then switch to a higher rate when finalizing the paperwork, often claiming the buyer did not qualify for the original rate.
3. Yo-Yo Financing: This scam involves allowing a buyer to take the car home before the financing is fully approved. Later, the dealer contacts the buyer, claiming that the financing fell through and they need to renegotiate the loan at higher interest rates or worse terms.

How We Can Help

At Consumer Action Law Group, our finance scam lawyers have extensive experience handling these deceptive practices. We understand the frustration and financial harm that such tactics can cause, and we are committed to holding those responsible accountable. Our services include:

• Case Evaluation: We will review the details of your situation to determine if you have a valid claim.
• Legal Representation: Our team will represent you in negotiations and court proceedings to ensure your rights are protected.
• Compensation Recovery: We will work tirelessly to recover any financial losses you have incurred due to the finance scam.

Why Choose Us

Experience and Expertise

Consumer Action Law Group is a leading law firm specializing in consumer protection. Our attorneys have years of experience in handling finance scam cases involving car dealerships, and we have a proven track record of success. Our expertise includes:

• Deep knowledge of consumer protection laws and regulations.
• Successful litigation against deceptive car dealerships.
• Personalized legal strategies tailored to each client’s unique situation.

Client Success Stories

• David’s Loan Packing Experience: David discovered hidden charges in his auto loan after purchasing a car. Our team successfully litigated against the dealership, and David received compensation for the overcharges and a revised loan agreement.
• Linda’s Yo-Yo Financing Case: Linda was forced to renegotiate her car loan under worse terms after being misled by yo-yo financing tactics. We took the dealership to court, and Linda was awarded damages and a fair financing arrangement.

The Process

Initial Consultation

Your journey with us begins with a free initial consultation. During this meeting, we will:

• Listen to your story and gather all relevant information.
• Explain your rights and the legal options available to you.
• Provide an honest assessment of your case and potential outcomes.

Case Assessment

After the initial consultation, we will conduct a thorough assessment of your case. This includes:

• Reviewing all documentation and evidence related to the finance scam.
• Identifying the responsible parties and their liabilities.
• Developing a legal strategy to pursue your claim.

Legal Proceedings

Once we have a clear understanding of your case, we will proceed with legal action. This process involves:

• Filing a Lawsuit: We will file a lawsuit against the deceptive dealership on your behalf.
• Discovery: Gathering additional evidence through depositions, interrogatories, and document requests.
• Negotiations: Attempting to reach a fair settlement with the defendant.
• Trial: If necessary, we will represent you in court to achieve the best possible outcome.

What to Expect

Communication

We believe in maintaining open and transparent communication with our clients. You can expect:

• Regular updates on the progress of your case.
• Prompt responses to your questions and concerns.
• Clear explanations of legal terms and procedures.

Timeline

Every case is unique, and the timeline can vary based on the specifics of your situation. However, we strive to resolve cases as efficiently as possible while ensuring that we do not compromise on the quality of our representation. Generally, you can expect:

• Initial Consultation and Assessment: 1-2 weeks
• Discovery and Evidence Gathering: 2-3 months
• Negotiations and Settlement Discussions: 1-2 months
• Trial (if necessary): Several months to a year, or maybe more, depending on the complexity of the case

Costs and Fees

At Consumer Action Law Group, we understand that legal fees can be a concern. We offer:

• Free Initial Consultation: Your first consultation with us is free of charge.
• Contingency Fee Basis: For many cases, we operate on a contingency fee basis, meaning you don’t pay us unless we win your case.
• Transparent Fee Structure: We provide clear information about any potential costs upfront, so there are no surprises.

Educational Information

FAQs

What is a finance scam at a car dealership?

A finance scam involves deceptive practices by car dealerships to mislead consumers about the terms of their auto loans or financing agreements, leading to unfair and unexpected financial burdens.

Is a finance scam illegal?

Yes, finance scams are illegal under consumer protection laws. Car dealerships that engage in such practices can be held liable for damages.

How can I prove a finance scam occurred?

Evidence such as loan agreements, communications with the dealership, and witnesses can help prove that a finance scam was used. Our lawyers will help you gather and present this evidence effectively.

What kind of compensation can I receive?

Compensation can include reimbursement for financial losses, additional damages for any inconvenience or distress caused, and sometimes punitive damages to punish the deceptive party.

Resources

• Federal Trade Commission (FTC) on Car Buying
• Consumer Rights and Protection Laws
• National Consumer Law Center

Contact Information

If you believe you have been a victim of a finance scam at a car dealership, don’t hesitate to reach out to us. You can contact Consumer Action Law Group through:

• Phone: (818) 254-8413
• Email: [email protected]
• Contact Form: Schedule a Free Consultation

Your Legal Team

Pauliana Lara

• Practice Areas: Lemon Law, Auto Fraud, FCRA credit report disputes
• Principal Role: Senior Managing Attorney
• Education & Background:
  • Southwestern University School of Law, J.D.
  • UCLA, B.A.

Matt Faler

• Practice Areas: Lemon Law, Auto Fraud, Chapter 7 and Chapter 13 Bankruptcy, Stop Foreclosure, FCRA credit report disputes
• Principal Role: Managing Associate Attorney
• Education:
  • University of San Diego, J.D.
  • University of Washington, B.A.

Chuck Panzarella

• Practice Areas: Lemon Law, Auto Fraud, FCRA credit report disputes
• Principal Role: Managing Partner
• Education & Background:
  • Rutgers University, J.D.
  • University of Colorado, B.A.

Legal Insights Blog

Recent Posts:

• Car Dealer Lied About Financing? Know Your Rights: We break down the common ways car dealers lie about financing, explain how these deceptive practices can impact you, and most importantly, outline what you can do to protect yourself.
• Can the Dealer Legally Change the Terms of Your Car Contract?: What to do if the dealer changes the terms of your car contract without your knowledge.
• Can the Dealership Add Fees to the Final Price of the Car?: Find out if the dealership can add fees to the final price of the car.