Car Loan Scam - Post Your Complaints on IndianMoney

by indian money Financial advisors,Health insurance

Banks finance the purchase of a new car or a used car through a car loan. Car loans are available at reasonable interest rates and a tenure which enables easy repayments. Car loans help you buy the dream car at a young age.

Want to know more on Car Loans? We at will make it easy for you. Just give us a missed call on 022 6181 6111 to explore our unique Free Advisory Service. IndianMoney Complaints is not a seller of any financial products. We only provide FREE financial advice/education to ensure that you are not misguided while buying any kind of financial products.

Post Your Complaints on IndianMoney If You Are Cheated in Car Loan

Car loan Fraud:

Car loan Scams are committed by both dealers and financing agents. These are some of the scams you should be aware of:

  • Guaranteed approval: There is no such thing as a guaranteed loan. Any lender will first run a credit check before approving the loan. So, if you have a bad credit score, your car loan will not be sanctioned.
  • Upfront payment: Some dealers may ask for upfront fees. The lender lures the customer to pay a fee before the application is processed or before the funds are disbursed. This type of scam typically takes place online.

SEE ALSO:Post your complaints on if you are cheated by personal loan

Financing scam:

Another type of fraud related to vehicle financing is when the dealer incorrectly discloses the financial terms of the loan. This dishonest practice is designed to dupe the buyer into thinking that the loan is more favorable than it really is.

SEE ALSO: IndianMoney Explains How You Can File Complaint against a Credit Card Company

Are you cheated by Loan Providers? Cottage a complaint on which is a free online consumer complaints portal, which registers consumer complaints online and helps resolve them. If you have been cheated by banks or do not receive any response, do get in touch. You can post your complaint on complaints portal

Read More: Car Loan Scam - Post Your Complaints On IndianMoney



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Created on Nov 27th 2018 05:28. Viewed 410 times.


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