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Auto Lending Practices Can Take Consumers for a Ride

June 27, 2017
Auto Loans

A car purchase can expand economic mobility; but tricks and traps in auto financing can lead to harm and abuse. Among those tricks and traps is dealer interest rate markup. Car dealers can add extra interest to a car loan, and keep some or all of the difference. This practice has a long history of unfair and discriminatory impact. CRL research also suggests that borrowers of color are sold more add-on products and are more likely to be told misleading information about their loan. Download the auto lending factsheet.