A deal's a deal...unless it's a 'yo-yo' car sale

The Indicator from Planet Money

NPR

Business

4.7 • 9.2K Ratings

🗓️ 13 February 2023

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Apparently the no-take-backs rule doesn't always apply when it comes to buying a car. Today on the show, how and why some dealerships can take back your car even after you've driven off the lot.

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Transcript

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0:00.0	NPR.
0:10.0	This is the Indicator from Planet Money, I'm Darian Woods.
0:15.0	And I'm joined here by Chris Arnold from NPR's Investigations Team.
0:18.8	Welcome Chris.
0:19.8	Hey Darian, good to be here.
0:21.2	You've got a story about the shady depths of the car market.
0:24.3	Why don't you just take us away.
0:25.5	All right, so our story begins with Courtney Johnson and her husband, Darian, and they
0:31.0	had just had a baby when they decided to get a new safer car for the family.
0:35.0	Well, I was excited, you know, like I felt like I made a good decision as a mother.
0:39.9	So the couple lives an hour outside of Orlando.
0:42.4	He's a fire sprinkler inspector.
0:44.6	She's at home raising the kids.
0:46.7	And they went to this dealership and they bought a little used Hyundai SUV.
0:50.2	They had the backup camera had all the passenger and the kids airbags in the back.
0:55.0	It was an all-wheel drive car, so it did fit a lot of the safety features that we were
0:58.7	looking for.
1:00.1	But three weeks later, after the Johnson said bought the car and took it home, they got
1:05.6	what's called yo-yoed.
1:07.6	Yo-yoed.
1:08.6	This sounds pretty bad.
1:09.6	I received a phone call from the finance manager of the dealership.
	...

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