New York state officials want a car lender to repay its customers for what they say were unscrupulous business practices by enforcing certain demands on potential buyers with limited or poor credit histories, reports Wallet Pop, a division of AOL Finance.
According to the article, the New York Attorney General’s office is accusing a company located in Auburn, New York, and its owner, of misleading used-car loan applicants by forcing them to buy an extended warranty in order for them to qualify for a vehicle loan. The problem is that loan processors for the company allegedly stated falsely to customers that a loan could only be gotten if they also bought an extended warranty, which reportedly cost an extra $1,995 to $2,495.
Enforcing such requirements is illegal, according to the Attorney General’s office. In several instances, if a customer opposed the warranty, investigators allege the company enforced a previously undisclosed fee of $495. In a statement, the Attorney General stated that the company had repeatedly deceived customers into paying more for loans than was necessary. While no official numbers regarding how many consumers were wronged, it is believed hundreds were overcharged for a loan.
If a consumer believes that they have been a victim of a business’ unfair or deceptive practices, it is important for them to consult with an experienced attorney who can advise them on their legal options. Howard D. Silver is a California unfair business practices lawyer who helps restore the rights of wronged consumers. To learn how Mr. Silver can help you today, call 1-(855) 341-2611.