Hey Scotty this isn't really a question but I wanted to get the word out about this scam that happened to me. I took my Ford Fusion into a Kia dealership and traded it in on a Toyota Tacoma. Signed the paperwork and everything was fine until two days later when the finance guy from the dealership texted me and said the deal fell through and I would need to refinance at a higher payment and a higher interest rate. I thought this was weird.i thought a deal was a deal. So I did a quick Google search and this is what's know as a Yo Yo scam. The dealership waits for a few days after signing the documents. Calls the customer and said the deal fell through and they need to refinance at a higher payment or rate. Yo yo comes from the back and forth between you and the dealership. I had no idea this was even a thing they could do. So I wanted to see if you could get the word out about this scam. Thank you!
Calls the customer and said the deal fell through and they need to refinance at a higher payment or rate
or else what?
The deal didn't fall through. The deal was done when they signed it.
How stupid do you have to be to fall for this?
I would have them send me that in an email, that way I have proof to show a lawyer when needed.
You signed the papers, did the dealership sign these too and do you have a copy as proof of an established contract?
When 'yes', what goes on seems illegal to me.
