In our state, we are blessed with a robust economy, including a bustlingly auto market. Though, with such a robust auto market, reports of fraud have begun to uptick, with 2020 seeing over 120,000 incidents of auto scams and frauds. And, unfortunately, Arizona broke the top 15 in auto fraud.
Arizona’s ranking
Using data from the Federal Trade Commission, Clearsurance, an insurance market place compiled state listings of auto fraud and scams. Then, 24/7 Wall St. used that data to compile a list of all 50 states and ranked them based on their incidents of auto fraud and scams per 1 million residents. Arizona ranked 14 with over 260 auto fraud incidents per million residents. And, while this seems like a lot, it is pretty close to median, 140 to 250.
Auto fraud?
For those in the industry, auto fraud may seem like an odd term because they do their best to keep their dealings honest. But, fraud can occur with even minor white lies, like overcharging a customer, making arguably unnecessary repairs or even charging for unused or misclassified parts. On the buying side, any misrepresentation can count as fraud, even if one may think of it as the negotiation “dance.” Misrepresenting a customer’s credit score or selling unnecessary or workless products and warranties can count as fraud. Charging a higher than reasonable interest rate can also qualify.
Help!
As any Tempe, Lake Havasu and Apache Junction, Arizona, auto dealer or mechanic can see, one can get roped into an auto fraud or scam rather easily. This is why it is so important to craft a criminal defense immediately because the loss of one’s reputation in this business can kill one’s business.