Car dealers are sometimes known for using shady tactics. I was surprised to find out some dealers are telling potential customers to just stop paying for car loans and take out a new loan. The problem with this is the lender will roll back on the customer for the balance of the loan. According to a recent article in the Wall Street Journal, this is fairly common advice in the industry.
This may work for the dealer. They get a sale.
I guess they don’t worry about the fallout to the customer.
Written by Greg Gouner