Car Sales Opportunities Are Looking Up In
Calif?
A bill eliminating the interest rate ceiling for some used car
loans is on its way to the desk of the governor of California. This
bill is considered by some to be a boon to the high discount rate
Check Guarantee auto down payment business.
The bill by Sen. Charles Calderon, D-Montebello, was approved by a
47-26 vote of the California Assembly. "This will enable people with
bad credit to get a loan rather than going to a loan shark," said
Assemblyman Gary Miller, R-Diamond Bar, California.
But critics, including the Consumers Union, said it could allow
interest rates to rise as high as 50 percent.
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