While subprime auto loans may seem like a lifeline, they often come with significant downsides. Here's a breakdown of the risks associated with subprime lending:

In this article, we’ll break down what deficiency balances are, how they’re calculated, why they often seem so high, and, most importantly,

The Truth in Lending Act is a federal law that requires lenders to disclose the full cost of a loan to the borrower. The goal of TILA is to promote transparency and ensure that consumers can make informed decisions about borrowing money. In the context of auto loans, the TILA ensures that all critical information about the loan, such as the annual percentage rate (APR), loan term, and total cost of financing, is clearly stated.