Auto Finance & Sales

Auto Finance

Abuses by dealers and finance entities make credit to buy a car more expensive than it should be. They raise interest rates above the rate dictated by a consumer’s credit worthiness, pack transactions with useless add-ons, and discriminate based on race and ethnicity. NCLC works to ensure that families get a fair deal through policies that bring transparency and fairness to car financing, allowing more families to successfully buy and keep a car.

Broad Coalition of 104 Organizations Tell Congress to Support FTC CARS Rule

April 10, 2024

The Rule will bring some long overdue relief to car buyers who are tired of dishonest pricing, and will pave a path for the FTC to pursue future rulemakings to regulate car dealers.

Read More about: Broad Coalition of 104 Organizations Tell Congress to Support FTC CARS Rule
March 25, 2024
December 12, 2023

Recent

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The New York Times: What to Do if You Fall Behind on Auto Loan Payments

October 11, 2024

ProPublica: What No One Tells You About Car Loan Deferments

September 12, 2024

Amicus Brief: Ochoa v. Ford Motor Company

May 6, 2024

Broad Coalition of 104 Organizations Tell Congress to Support FTC CARS Rule

April 10, 2024

Consumer Group Comments Urging CFPB to Continue and Expand its Auto Data Collection Project

March 25, 2024

Consumer Advocates Applaud FTC for Moving Forward with CARS Rule

December 12, 2023

Los Angeles Times: Why all Latino wealth is not equal

July 19, 2023

Consumer Advocates Applaud Members of Congress for Supporting FTC Auto Dealer Rule

June 22, 2023

Amicus Brief in CFPB & Attorney General of the State of New York v. Credit Acceptance Corporation

May 22, 2023

Comments & Letters

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Consumer Group Comments Urging CFPB to Continue and Expand its Auto Data Collection Project

March 25, 2024

Coalition Comments to CFPB  regarding Collection of Data from the Auto Finance Market

December 19, 2022

Consumer Groups Comments to the CFPB Regarding the Need for Additional Auto Finance Data

December 19, 2022

Comments to the FTC Addressing Auto Sale Add-ons, Price and Financing Disclosures, Yo-yo sales, and More

September 12, 2022

Group Letter to the FTC Addressing Auto Sale Add-ons, Price and Financing Disclosures, Yo-yo sales, and More

September 12, 2022

Group Letter to the Colorado Motor Vehicle Dealer Board

January 23, 2019

Group comments to the CFPB regarding defining larger participants in auto financing

December 8, 2014

Group Comments to the FTC opposing its Used Car rule

March 12, 2013

Group comments to the Federal Trade Commission on the Magnuson-Moss Warranty Act Review on auto warranties a and defects

October 24, 2011

Reports

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Repo Madness: How Automobile Repossessions Endanger Owners, Agents, & the Public

March 1, 2010

Time to Stop Racing Cars: The Role of Race and Ethnicity in Buying and Using a Car

April 15, 2019

Issue Briefs

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Principles for Laws Permitting Electronic Repossession of Vehicles

January 1, 2020

New Ways to Understand the Impact of Auto Finance on Low-Income Families

May 1, 2016

Testimony

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Testimony During “Examining Discrimination in the Automobile Loan and Insurance Industries”

May 1, 2019

Testimony in Support of MD SB1, Augustine (as amended in the Senate EEE)—Electricity and Gas—Retail Supply—Regulation and Consumer Protections

March 26, 2024

Testimony Before Maryland Senate on Amended HB 246: Earned Wage Access and Credit Modernization

March 26, 2024

Testimony in Support of Rhode Island H 7941 Opting Out of DIDCMA

March 25, 2024

Comments on CFPB Proposed Rule on NSF Fees

March 25, 2024

Testimony in Opposition to H4456: An Act Relative to Financial Technology Services

March 22, 2024

Testimony in Support of DC B25-0609 Protecting Affordable Loans Amendment Act

March 13, 2024

Testimony Opposing Maryland HB 1425/SB 998 Earned Wage Access

March 1, 2024

Testimony In Support of Maryland HB 1156: The Elder Fraud Prevention Act of 2024

February 23, 2024

Press Releases & News

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Advocates Praise FTC Action on Discrimination and Abuse at Car Dealer and Urge Further Efforts

May 28, 2020

The New York Times: What to Do if You Fall Behind on Auto Loan Payments

October 11, 2024

ProPublica: What No One Tells You About Car Loan Deferments

September 12, 2024

Broad Coalition of 104 Organizations Tell Congress to Support FTC CARS Rule

April 10, 2024

Consumer Advocates Applaud FTC for Moving Forward with CARS Rule

December 12, 2023

Los Angeles Times: Why all Latino wealth is not equal

July 19, 2023

Consumer Advocates Applaud Members of Congress for Supporting FTC Auto Dealer Rule

June 22, 2023

NBC News: “With car repossessions and home foreclosures rising, some Americans are living on a financial cliff”

April 29, 2023

NBC News: “The cost of owning a car keeps rising, but a price drop could be on the horizon”

April 8, 2023

From the NCLC Digital Library

Automobile Fraud

NCLC’s treatise on odometer tampering, lemon laundering, and concealment of salvage or other adverse history. Winning investigation and litigation techniques for obtaining punitive damages, rescission, treble damages, or $10,000 statutory damages, and attorney fees.

Read Chapter One

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