Car Loan Complaints Climb As Pandemic Squeezes Paychecks

The video discusses a surge in complaints about car payments in the US, highlighting issues such as rolling old auto loans into new ones and focusing on low monthly payments rather than the overall term. It advises viewers to file complaints with the Consumer Financial Protection Bureau if they encounter problems.

What time period did the US Public Interest Research Group report a surge in car payment complaints?

• February to May

• January to March

• March to July

• July to December

How many complaints about car payments were filed by Americans between March and July?

• Over 1500

• Over 5000

• Over 2800

• Over 1000

What is a common issue people face when rolling old auto loans into new ones?

• High interest rates

• Focus on low monthly payments

• Increased down payment

• Lack of insurance

Why might people focus more on low monthly payments rather than the overall term of the loan?

• To reduce interest rates

• To manage immediate financial burden

• To increase loan duration

• To avoid down payments

What do experts suggest as the best course of action if you have problems with your car payments?

• Contact the car dealer

• File a complaint with the Consumer Financial Protection Bureau

• Seek legal advice

• Negotiate with the bank