So I cornered one of the nations top automobile salesman and asked him for a short interview and this is how it went.
The CFPB stated that Herbies unlawfully marketed a misleadingly low 9.99% annual share rate (APR), with out disclosing that this fee required a warranty, a payment reminder machine and that there were other prices, comparable to finance expenses, leading to a a lot larger fee in actuality. The extra gross revenue a dealership makes by getting a bigger down fee from you all comes all the way down to how lenders lend.
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