*The Bureaus Carelessness Hurts Consumers

When the bureaus, consumer advocates and so-called “financial experts” continually ‘dumb down’ important distinctions that consumers can easily understand (like “seller financing” versus a “bank loan”), it is harmful to consumers. The bureaus undoubtedly present themselves as educators of consumer financial literacy, yet they fail to explain important distinctions in the automotive finance world. There are big differences between auto loans and auto credit sale agreements. The Bureaus consistently call both transactions “loans,” and that incorrect description hurts consumers! Let...