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Released: November 02, 2011
Consumer agency will fight to defend servicemembers’ pocketbooks
Source: Jim Puzzanghera, Los Angeles Times (Free Registration)
Navy Petty Officer Tyson Steele needed to buy a new vehicle. But like some military members who borrow money, he said he was taken for a ride on the financing.
He signed a deal in December to purchase a used Chevrolet Silverado through a San Diego dealership loan at 6.9% interest, according to his attorney. A few days after Steele drove the pickup off the lot, the dealership said it was unable to secure financing.
If he wanted to keep the truck, he’d have to pay 9.99% interest.
Read Full Article: Consumer agency will fight to defend servicemembers’ pocketbooks
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