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Minorities Slapped with Higher Auto Rates: Report

Despite attempts to negotiate at dealerships, Hispanic and black car buyers pay higher rates according to CRL report.

By Michelle A. Samaad | Updated on January 27, 2014

Despite their attempts to negotiate pricing just as much, if not more than white consumers, Hispanic and black car buyers still receive higher interest rates on loans financed through dealers.

That finding was revealed in a new report, Non-Negotiable: Negotiation Doesn’t Help African Americans and Latinos on Dealer-Financed Car Loans, from the Center for Responsible Lending, a Durham, N.C.-based nonprofit research and policy organization.

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