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We're the Consumer Financial Protection Bureau (CFPB), a U.S. government agency that makes sure banks, lenders, and other financial companies treat you fairly.

Learn how the CFPB can help you

I found the car of my dreams but the dealer says that I have to have a down payment. When I said I didn't have the money the dealer said that if I add a GPS and a stereo he will be able to get me a loan for the full amount. What should I do?

Answer:

Ask the dealer why you can only get approved for the full amount with a GPS and stereo, and ask the dealer to put the offers in writing. The dealer may be trying to scam you into buying the add-ons by telling you that the only way you can get the loan is if you buy the GPS and stereo. 

Report dealers making offers like this to your state attorney general.

You can also shop around at other dealers and lenders. Knowing your options will help you negotiate the best overall deal.

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The content on this page provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically. This information may include links or references to third-party resources or content. We do not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.