Auto Finance - Buying contracts from dealers
Finance companies buy loans from car dealers just after the sale is made. They typically buy loans at a discount of 1% to 15% of the loan’s principal amount. It then collects on the loan or, if things go bad, calls the repo man to take the car back. “You can read more about what goes on behind the scenes in auto financing in our blog” said consumer watchdog organization Household - HSBC Watch.
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Related Searches: consumer watchdog organization, finance companies, repo man, auto finance, auto financing
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