Posted On: July 1, 2006
Dealers Must Disclose Buyers' Credit Scores in Arranging Loans
Under the California Car Buyers Bill of Rights, when a car dealer arranges financing and obtains the buyer’s credit score (from Trans Union, Experian or Equifax), the dealer must now disclose the score to the buyer along with the range of credit scores used by the credit reporting agency. That way, the buyer can determine if he or she is getting a good deal on the interest rate the dealer is offering. The disclosure will help consumers make good choices in obtaining car loans.
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