LOOKING FOR A NEW CAR? WATCH OUT FOR THAT ‘GREAT’ DEAL…
“Car buyers who are trading in a vehicle with an outstanding loan that the dealer promises to pay off are particularly vulnerable. If the check to the old lender doesn’t get cut, you end up with two payments — one of which you don’t make because you don’t think you have to — and most likely a dinged credit record. You could get tripped up as well over tax, title or registration fees that go missing.”
From: MarketWatch
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