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9. Beware of the 'yo-yo'
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9. Beware of the 'yo-yo' | Steven BrissonPhotography/Moment/Getty Images

9. Beware of the 'yo-yo'

If you finance through a dealer, make sure the terms are final, not contingent or conditional, before you sign and drive away. All too often buyers are told days or weeks later that their monthly payments or the required down payment has been increased. Or they're told the financing is not complete and they must accept a higher interest rate. It's sometimes known as a "yo-yo scam." According to the Center for Responsible Lending, victims of yo-yo scams pay an average of 5 percentage points higher in interest than someone who is not a victim.

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