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Auto interest rates on the rise for those with poor credit

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Car salesmen call it “the payment walk,” when a customer wants a new vehicle but is walked instead to the used lot because they can’t qualify for a new-car loan.

 

Used car sales are already up, and new-car sales have ebbed, says Bill Perkins, owner of a Chevrolet dealership in Taylor, a suburb of Detroit. Record new-car sales are on the way out.

Read the full story at ocregister.com

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