Automobile Fraud

Unscrupulous Automobile Dealers come up with a variety of schemes to rip people off.  Some of these are:

 The Yo-Yo.  This is where the dealer lets you out the door taking your trade and telling you you're financed when you're really not.  They'll call to say you haven't been financed after all and want you to sign another set of papers with different terms.  They're not supposed to sell your trade, but they will or they'll tell you they did (when they really didn't).  

Hurricane Sandy flood car. (Image from

The White Washed Title.   Frequently, vehicles that have been declared a total loss in one state (could be from a wreck or from a flood) and are moved to another state for resale, but the previous condition is not reflected on the title.    People think that a VIN service like the well-known company CarFax are 100% reliable to report whether or not there's been a problem.  It is not.  

The Reset Odometer.   Even in the digital age, there can be odometer discrepancies that are not reflected in the paperwork or on the title.