Familiarize yourself with laws that authorize and regulate vehicle dealership financing and leasing.
Truth In Lending Act - Requires that, before you sign the agreement, creditors give you written disclosure of important terms of the credit agreement such as APR, total finance charges, monthly payment amount, payment due dates, total amount being financed, length of the credit agreement, and any charges for late payment.
Credit Practices Rule - Requires creditors to provide a written notice to potential co-signers about their liability if the other person fails to pay; prohibits late charges in some situations; and prohibits creditors from using certain contract provisions that the government found to be unfair to consumers.
Equal Credit Opportunity Act - Prohibits discrimination related to credit because of your gender, race, color, marital status, religion, national origin, or age. It also prohibits discrimination related to credit based on the fact that you are receiving public assistance or that you have exercised your rights under the federal Consumer Credit Protection Act.
For more information on federal credit regulations and consumer rights, contact:
Federal Trade Commission
Washington, DC 20580
Phone: (877) FTC-HELP (382-4357)
Click Here to visit the Federal Trade Commission web site
Federal Reserve System
Washington, DC 20551
Phone: (202) 452-3693
Click Here to visit the Federal Reserve System web site
Save yourself time and take advantage of this convenient service offered by Car Today to apply for credit for your purchase right here online!
Click Here to Apply Online!
We encourage you to educate yourself on vehicle financing by looking at the sections that we have offered below for a through understanding of the financing process works and your options and responsibilities. Click on each section for more information.
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