subject: ‘No exemption for Car Dealers', says ARG [print this page] No exemption for Car Dealers', says ARG No exemption for Car Dealers', says ARG
Consumer Protection is one of the basic laws, which needs to be followed by auto/ car dealers to avoid consumer exploitation. There have been many instances where car buyers have suffered huge losses due to irrational monetary demands of auto dealers.
First of all, the interest rate auto dealers charge is much higher than banks and financial institutions as their main aim to gain more and more profit. Addition to that they ask for extra fees and if not paid by the buyers, they block the vehicle and create problems for customers.
To avoid such fraudulent activities, auto dealers are asked to follow the basic Consumer Protection Rules. Though there has been news that they might be exempted from such laws, however it will be incorrect if it happens. More than around 18,000 car dealers are trying to get exemptions from these laws by gaining the political support from government officials. The reason behind this is that they are gaining higher profits thereby coming in the way of credit unions and banks.
If a borrower is already suffering from a high interest rate payment, they need a loan modification which can help them lower their monthly bills. The procedure takes about 3-5 weeks. And remember that loan modification is not only for your car, but for boat, RV, SUVs, trucks too as you might also need to reduce some amount here.
About Auto Relief Group
Auto Relief Group offers Car Loan Modification service, we assist car owners in renegotiating their car loan or lease, avoid repossession and maintain ownership of their vehicle by working directly with lenders to restructure loans, extend terms or reduce payments.
We provide our clients with customized reports, expert advice and negotiation assistance when restructuring their car loans.
