“Yo-Yo” Car-Dealer Scams Rig the Game, Push Buyers into Bad Loans
Car dealers often target consumers with poor or no credit for yo-yo scams, a new CRL report demonstrates. "Yo-yo scams occur when a dealer leads a car buyer to believe financing is final," says CRL senior researcher Delvin Davis, author of the report, Deal or No Deal: How Yo-Yo Scams Rig the Game against Car Buyers. "The dealer lures the...