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CRL Cites Disparities

Center for Responsible Lending finds Hispanic and black car buyers receive higher interest rates on loans financed through dealerships.

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Hispanic and African-American car buyers still receive higher interest rates on loans financed through dealerships despite their attempts to negotiate pricing just as much if not more than white consumers.

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. The CRL said it gathered data for the report by conducting a telephone survey of 946 consumers who had purchased a car at a dealership in the prior six years.

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