Franchised new-car dealers do much more than sell cars. We provide service for the long term. And we offer our customers competitive financing options.
Dealer-assisted financing provides great value and competitive advantages, which saves our customers billions of dollars each year. And the proof is in the numbers. Despite the fact that dealer-assisted financing is always optional, a large majority of consumers still choose to finance their vehicles through dealers.
Most troubling is that the
The bill would require the
To help address the fair credit risk to consumers, dealers and finance sources, NADA released its Fair Credit Compliance Policy & Program last January. This optional program provides a dealership which adopts it with a viable means of managing its fair credit risk, while still allowing for pricing flexibility.
NADA is working to protect dealers--and our customers--by making sure auto loans remain affordable and accessible while still addressing fair credit risks. For more information, visit www.nada.org/cfpb.
McConnell is president of
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