Whether you are buying a new vehicle or a second-hand vehicle, having a healthy amount of skepticism in regards to the trustworthiness of the manufacturer and dealership is important.
This is because being unaware can lead to you being a victim of automotive fraud. Thankfully. Consumer protection statutes come to address various issues related to automotive fraud. However, being educated and knowing how to protect yourself has a few perks, too.
What does the consumer protection law say?
The consumer protection law takes care of issues related to false advertising that applies to various auto dealer fraud forms. However, not every regulation and statute by applying to your automotive fraud case because automobile sales are exempted from the three-day cooling-off rule, but there are a few exceptions.
Consider working with an automotive attorney for added guidance.
The rule for the used vehicle
The used car dealers are required to disclose certain information as per the federal regulation for the Used Car Rule.
The rule prohibits false statements, unfair, deceptive practices, and material misrepresentations in regard to selling the used vehicle.
Regulations for auto financing
When the dealer is responsible for financing, many sales contract provides the dealer with the privilege to revoke the agreement within ten days. This means that if the dealer cannot obtain the finance for you, he can demand you return back the vehicle.
However, the dealer is required to provide written notice.
Wrapping up
With this information, we are sure you must be ready to face the automotive fraud challenges. However, if you need extra help, you can consider working with an automotive attorney for added guidance and security.
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