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To protect consumers in the automotive marketplace , policy-makers should limit abusive, predatory and discriminatory auto sales and lending practices including by:. To expand transportation options and enable more Americans to live without owning a car, policy-makers should:.
Skip to main content. Driving into debt The hidden costs of risky auto loans to consumers and our communities. Previous Email Next. Access to a vehicle is necessary to reach jobs and economic opportunity in much of the nation.
Auto dependence is the result of generations of public policy. Owning a car is expensive and drives millions of households to take on debt. Transportation is the second-leading expenditure for American households, behind only housing. In addition, 53 percent of all used car purchases are financed, up from 46 percent in Make sure you understand whether the deal is final before you leave in your new or new-to-you car.
Consider whether you want to proceed. Learn more about buying and owning a car at ftc. Federal Trade Commission Consumer Information.
Search form Search. Financing or Leasing a Car. Share this page Facebook Twitter Linked-In. Shopping for a car? Since the end of March, the outstanding non-food credit of the banking sector has shrunk 1.
Senior bankers said many lenders have turned conservative though fresh disbursals continue. Prashant Kumar, chief executive, Yes Bank, said the bank has not stopped lending and is giving new loans to retail, small business and even corporate borrowers.
Hence, automakers have been trying to collaborate with banks to make it more affordable for customers to own vehicles at a time when job losses and a slowing economy have hit consumer sentiment. We do have in-house financing options with the help of which we are able to neutralize such issues," Soni added. Never miss a story! Stay connected and informed with Mint.
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