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Our friends at the Center for Responsible Lending just released a new report on yo-yo car buying scams. According to CRL, "the yo-yo scam occurs when a dealer leads the car buyer to believe that the financing is final. The dealer then lures the consumer back to the dealership, claiming the financing needs to be finalized, and pressures the consumer to sign a new financing contract with a higher interest rate or other less favorable terms."
Have you ever had this happen to you? Let us know; there are some lawmakers in Salem who are interested in this topic.
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