Invalidating an auto loan
If automatic payments are not selected, or are canceled for any reason at any time after account opening, the interest rate and the corresponding monthly payment may increase.Chances are you rely on your car or truck to get you where you need to go.So in summary, when you refinance your loan, you might get to lower your payments, possibly take a payment off in between, and all you have to do is apply online and get approved, and finish and submit your paperwork.Car insurance is a necessity for every Australian car owner but like applying for a car loan, offering misleading information could land you in hot water, and in this case invalidate your car insurance premium altogether.Usually you have to fill out an application for 5-10 minutes and if approved, you will get an offer in seconds.
Only one relationship discount may be applied per application.
In fact, the FTC recently sued companies that made claims like these, but failed to deliver the auto loan modifications they promised or honor the refund policies they "guaranteed." What's more, in many instances, the companies never even contacted any lenders.
The victims of these auto loan modification scams tell the same story: After paying a fee for the promise of a loan modification, nothing was done to secure the results that were promised.
In some instances, the scam artists demanded additional fees to continue working on their client's cases. Some scam artists have taken a page from the mortgage loan modification fraud playbook, moving from trying to dupe homeowners in distress to preying on drivers who can't make their car payments.
The fraud is the same: people pay in advance for a service that is either never performed, or not performed as promised.