Beware of Loan Fraud: Auto Dealer Arrested for Loan Scheme

Serving Los Angeles, Riverside, Ventura, San Bernardino Counties & Nearby Areas of California

The California Department of Motor Vehicles reports that an auto dealer and his wife have been arrested for their part in an alleged multimillion-dollar auto loan scheme.

This California auto fraud case underscores the need for consumers to be very careful with the information that they give to an auto dealer who also provides financing. Unscrupulous dealers can use that information to apply for additional car loans or home loans, potentially putting an innocent car buyer on the hook for more than he or she bargained for.

Tips for Safe Auto Financing

• Never sign a loan application with blank spaces for the dealer to “fill in later.”
• Always read any financial application form completely before signing
• Never sign backdated financial forms, including auto loan applications

If you have any questions or concerns about auto loan fraud or fraudulent auto dealer practices, please contact the Law Offices of Howard D. Silver. Call (855) 341-2611 for a free consultation with a skilled California used car fraud attorney.

 

Posted Date: 
Wednesday, February 18, 2015