Auto Fraud comes in every shape and size. The types of fraud that happen in auto sales are limited only by the car dealer's ingenuity. New frauds are created nearly every day and are often hard to spot. Contact Vedra Law LLC to determine if you have been the victim of Auto Fraud.
A salvage vehicle is one that would cost more to repair than the value of the vehicle when repaired. It is illegal for a auto dealer to sell a salvage vehicle without first disclosing that the vehicle is a salvage vehicle. Seems simple enough, but not always.
Both Colorado and Federal law impose obligations on sellers of new vehicles. In addition, there are protections for purchasers of vehicle service contracts, used vehicles, and vehicles still covered under factory warranties.
Buying the car is not the only sale. The dealership also sells the consumer on the financing and a number of other add-on financial products like warranties, service contracts, and insurance. Sometimes, the selling isn't done even after the consumer takes the car off the lot. The dealer may call the consumer back in to re-sign finance documents even after the consumer has showed off the new car to family and friends. This is called a yo-yo sale, and it is illegal under the Colorado Consumer Protection Act.