March 2017 Archives

Car repossession device can wreak havoc

She and her husband needed a car to get her to dialysis five times every week. Because the couple did not have a lot of money, they had to go to a car dealer that offered financing regardless of credit history. Unsurprisingly, the terms were pretty painful: a 2007 Chevy with over 100,000 miles would cost the couple more than $21,000. The interest rate was 29 percent, which was almost six times the average.

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