Car Dealers Fleecing Minorities?

a45acp4me at JUNO.COM a45acp4me at JUNO.COM
Mon Oct 30 23:52:56 MST 2000

It is beyond me how anyone would sign a contract without reading it.
They probably went to our great public School system.

On Mon, 30 Oct 2000 12:34:34 -0600 Richard A Whitenight
<rum.runner at JUNO.COM> writes:
> It appears that some car dealers are telling potential minority car
> buyers one thing and delivering another thing when it comes to
> percentage
> rates on new or used cars.  CBS 60 MInutes uncovered evidence that
> car
> dealers are saying one percentage rate to the customer, but in
> reality
> are working with the companies who provide the loans to increase
> the
> annual percentage rate and split the difference between the two and
> both
> sides keep the extra income.  There was evidence that two African
> American females were taken advantage of by this method and only
> after
> they signed the contract, and started paying for their car did they
> realize the fine print, that the APR on their loan was higher, that
> they
> were paying more for the car than they realized.  These particular
> examples appeared to have been taken from experiences with used car
> dealers and not so much with the major new car dealers.
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