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How car ownership got so expensive

Today, Explained

Unethical Practices in Auto Lending Industry

9min Snip

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The chapter exposes how vulnerable individuals are targeted by unethical practices in the auto lending industry, leading to unaffordable car loans and quick repossession of vehicles. It discusses cases of individuals with poor credit and low income being trapped in debt with high-interest rates and inflated prices. The dialogue calls for federal intervention to prevent predatory lending and highlights a new rule, CARS, aimed at promoting transparency and protecting consumers from deceptive practices.

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