A yo-yo is when a car company has you sign all the papers for a new car then calls you back in a couple of weeks and tells you they were unable to get you financed so if you want to keep the new car your payments will increase tremendously. This is illegal.
A dealer does not give you a copy of all papers at time of signing, stating they will mail them to you later. This is done so you will not have a copy of a binding contract. This is illegal.
Unfortunately, places like Central Kia of Lewisville, us these tactics on young people, like my son and daughter-in-law, both students at UNT with 2 small children who wanted their first new car so badly that the dealership thinks they can get away with it. The sad part is they do get away with it because the people they do this to do not know where to turn for help nor have the money for a private attorney.
Fortunately, in this case, my children were smart enough to demand the used car back they had traded in on the new one instead of induring payments they new they could not afford.
Always, always demand a copy of a contract the minute you sign it, no matter what it pertains too. If they won't give you one. Walk away. The deal is no good.
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