Weil Quaranta represents consumers who have been the victim of fraudulent auto industry practices.
Buying or leasing a car or truck is one of the largest financial transactions most people can make. But some dealers engage in abusive financing schemes, hide auto finance charges, and mislead consumers. Offenders can range from high-end auto showrooms and finance companies to “buy here, pay here” used car dealers. Some misleading practices violate federal law, and Weil Quaranta is committed to bringing those practices to light through the justice system.
If you are still under contract with a car lease or purchase, you can learn if you have fallen prey to fraud by simply checking your contract. If you are considering leasing or buying a car, we strongly urge consumers to read the contract carefully before signing.
Weil Quaranta is currently involved in federal litigation over “swallowing” an auto trade-in value. That happens when the dealer doesn’t give proper credit for your trade-in, adds hidden charges and fees without disclosing them, or omits your down payment from the monthly payment calculation.
This can cost you thousands of extra dollars, and it is often illegal. If you have traded in your car for a lease or purchase, you can check the section on your one- or two-page financing contract under “net trade-in allowance. “ If it is blank, says “N/A,” or is less than the amount agreed on your trade, the dealer may have “swallowed” your car value and violated the law.
You are therefore paying interest and sales tax on the full amount of your purchase — not the purchase price less your trade-in value. In effect, you are paying rent on your own money, and the dealer is not disclosing it.
If you believe you have evidence of any financial abuse on a car or truck sale or lease, contact us. We are committed to working through the justice system to champion honesty, transparency, and fair dealing in the auto industry.