Skip to main content

Search form

Subprime Loans Are Back

Monday, May 2, 2016
Helaine Olen | Slate

There is something, however, auto loans of all sorts share with housing loans that should concern us: a history of discrimination. A 2014 report by the Center for Responsible Lending revealed that blacks and Latinos are more likely to get sold add-on products when purchasing a car—and dealers often told them if they didn’t agree to take on the extra frills, they wouldn’t get approved for the loans. And in many cases they paid more for financing than their white counterparts.