Showing posts with label roosevelt gist. Show all posts
Showing posts with label roosevelt gist. Show all posts

Sunday, December 22, 2013

Minority Car Buyers Still Pay More For Auto Loans

These two headlines caught my attention yesterday and I just can't let them go; "Ally Paying $98 Million To Resolve Auto-Loan Claims" (Charlotte Observer print version) and "Ally, U.S. Reach $98 Million Settlement Over Lending Bias" (Automotive News web version). Does this bother anyone other than me?

You want to believe that in 2013 race does not play a role in auto financing. Well, you would be wrong. You can't remove car buying from this practice because you can't have one without the other. Ally, as of the first part of 2013, was the largest auto lender in the U.S. Ally purchases retail installment contracts from over 12,000 auto dealers.

These articles go on to say this is the largest auto-loan discrimination settlement to date by the Justice Department and Consumer Financial Protection Bureau. The claim was based on race because other credit considerations taken into account for loan approval, income and credit score, were equal with whites.

According to the decree, for example, on average African-American borrowers
were charged approximately 29 basis points more in dealer markup or approximately $300 over life of contract; Hispanic approximately 20 basis points more in dealer markup or approximately $200 over life of contract and Asian/Pacific Islander approximately 22 basis points more in dealer markup or $200 over life of contract.

About 235,000 minorities were overcharged by auto dealers above the interest rate set by Ally. Auto dealers make their income by freely marketing up Ally's set rate per car buyer.

When will lenders and auto dealers learn? If you know, for certain you were charged a higher interest rate on your car purchase made in 2013 comment here?

Automotive News Article

UNITED STATES OF AMERICA 
CONSUMER FINANCIAL PROTECTION BUREAU CONSENT ORDER

Sunday, December 8, 2013

What You Must Know About The Lease Advertisement


The small print is the most important part of the advertisement. It is virtually impossible to get the low monthly payments advertised. Leasing is appealing because of lower monthly payments and a very small initial cash outlay. 
 If you read the small print carefully, you can immediately see that you cannot have both the advertised lower monthly payment and small initial cash outlay. Ask the lessor to give their definition of all lease terms. You will be surprised at the number of variations. If you do not feel comfortable with the answers find another lessor. 

Friday, December 28, 2012

New Year for Resolutions

Christmas is over and all those much wanted gifts have been received and some returned. Now you set your sites on how to bring in the new year. Where? With whom?

We'll ask and be asked what are your new year's resolutions? Or do you make resolutions? Or how many resolutions do you keep.

A resolution is like a goal. It's been said that if you write it down and do it for 30 consecutive days the goal becomes a habit.

So, what is your goal for 2013? Do you set more than one? How long before you break it?

I've made one new year's resolution or goal for 2013. Sign-up 25 merchants in top 50 markets as advertisers on new CouponsOffersandDeals.com website.

Thursday, December 20, 2012

The Holiday Shopping Season Has Just Begun For Some

Procrastination is alive and well

Press Release from Lands End


DODGEVILLE, Wis., Dec. 13, 2012 /PRNewswire/ -- While millions of holiday shoppers took advantage of
Black Friday and Cyber Monday in record numbers this year, a recent survey conducted on behalf of Lands' 
End finds that 30 percent of this season's gift buyers have yet to make a single purchase.  Of those that have 
begun to tackle holiday shopping, almost eight out of ten (79 percent) still have gifts to purchase with over half 
(51 percent) stating they have up to five gifts left on the shopping list.  The survey also revealed that the 
upcoming National Free Shipping Day (December 17) will provide an added shopping incentive for 39 percent
of shoppers.

"At Lands' End, we love to accommodate last minute holiday shoppers," said Joan Conlin, vice president of 
customer care services, Lands' End.  "Our customer service representatives, expedited shipping options, 
warehouse staff and gift wrapping services make Lands' End the perfect Procrastination Destination to fulfill 
last minute gift orders. In fact, we will be taking orders until December 21st with expedited shipping to be 
processed and delivered in time for Christmas Eve."
With only two weeks before the holiday, the survey finds last minute shoppers will be out in full force.  Seven 
out of ten
 (73 percent) respondents state they will be shopping during the two weeks before Christmas with 10 percent 
confessing they will be shopping for holiday gifts on Christmas Eve.While some shoppers may procrastinate, 
they do have gifts lists in place.
Topping last minute lists, shoppers will be shopping for Apparel and Accessories (58 percent), Gift Cards  
(56 percent), Electronics (46 percent), Food and Confections (38 percent), Jewelry (26 percent), Housewares
(25 percent) and Pet Products (18 percent).
Additional Last Minute Holiday Shopping Survey Findings:

Better Late Than Never – Almost three-quarters of respondents (74 percent) state they did not shop earlier 
this year than prior years even though retailers offered early shopping incentives and promotions.

Shopping Procrastinators – When asked why wait until the last minute to shop for gifts, 
59 percent state they are "natural procrastinators."Taking Time – More than seven out of ten (74 percent)
surveyed state they take their time to search out the right gifts for recipients, while more than half (53 percent)
state they do not have time to shop.Stressed and Excited – Last minute shoppers state they are "stressed"
because there is so much left to do (42 percent), yet "excited" to find good deals and gifts (49 percent). 
Shopping and Joy – When it comes to holiday shopping, a quarter of respondents (26 percent) enjoy the
last minute shopping experience.

Thursday, November 15, 2012

Welcome To My Blog

Welcome. Here you'll find comments on information found in my websites and just some comments. The election is over and my TV's are mine again. Didn't you feel yours were hijacked?