Understanding Auto Loan Markups
Marking up a loan is a practice in which dealers add percentage points of interest to a loan and, in agreement with the finance company, get to keep most of the extra interest money. Household - HSBC Watch consumer watchdogs want you to understand this process. As a customer you have the right to ask how much your loan was marked up. Many organizations believe blacks and hispanics pay more due to markups, as do whites, but they suffer more with higher markups.
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