Take Action Against Auto Dealer Yo-Yo Scams
You drive your new vehicle home from the dealership. The salesperson was very charming, and you believe you made a fair deal with a monthly payment you can afford, even though you bought the car after regular banking hours. But a day or two later, the salesperson calls and tells you to come back to the dealership.
Somehow, it turns out the interest rate on your loan and other terms cannot go through as they promised you. Instead, you must accept the new terms, or the dealership will take back your new car. The salesperson might also threaten to keep your down payment or even sue you if you do not comply.
This is known as a “yo-yo” scam – letting customers drive off believing they have agreed to certain financing terms, then forcing them to return to the dealership (like a yo-yo on a string) to accept much worse terms. If something like this has happened to you, you do not have to accept being scammed. Our team at Thomas R. Breeden, P.C., can help you assert your rights under Virginia and federal consumer protection laws.
One Of Virginia’s Most Experienced Consumer Protection Attorneys
Attorney Tom Breeden has represented consumers in northern Virginia since 1991 and has handled some of the commonwealth’s largest auto dealer fraud cases. Our team is dedicated to holding fraudulent auto dealers accountable for the harm they cause their customers. Laws like the federal Truth in Lending Act, Fair Credit Reporting Act and Equal Opportunity Act, and commonwealth laws against fraud and conversion require auto dealers to be honest and straightforward when offering credit. A violation can lead to substantial compensation for the victim.
You Have The Right To Stand Up Against Fraudulant Dealers
You might feel embarrassed or hopeless about what happened to you. But yo-yo scams impact thousands of Americans every year. You have the right to be treated honestly and fairly when financing an auto purchase. We can help you stand up for justice and seek maximum compensation.