What is the "we can't find your keys" scam?
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What is the "we can't find your keys" scam?
James Bell (Publisher, Auto Reviewer) gives expert video advice on: What is the "wrecked used car as is" scam? and more...
When you go into a car dealership to start the negotiations, you're going have to give them your car keys. This is so the dealer can drive your trade-in vehicle and analyze it for what it might be worth, to give you that money for your down payment. An old scam is to tell you, after you decided that the negotiations aren't panning out and you've decided against the vehicle for whatever reason, that they can't find your car keys when you ask for them back. We've heard of stories of car dealers actually throwing keys onto roof of the dealership to make sure you never find them until you sign on the dotted line for your new vehicle. The point is you do have to give your keys, they do need to spend some time with the vehicle to test it and identify the resale value, but ask for the car keys as soon as they're done with that process so you can't be caught up in that hours later. The worst case scenario is that you'll end up buying a vehicle which doesn't meet your needs, is too expensive and you don't want in the first place, from people that are very unscrupulous to begin with.