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- Title
Rates for Vehicle Loans: Race and Loan Source.
- Authors
Charles, Kerwin Kofi; Hurst, Erik; Stephens, Melvin
- Abstract
The article examines whether blacks in the U.S. pay higher interest rates on automobile finance loans. A discussion is presented regarding the sources of such loans including banks, savings institutions, and the finance arms of automobile companies such as General Motors Acceptance Corporation (GMAC). Topics include access to credit, higher interest rates that finance companies charge to all customers, and median interest rates charged to customers. Also discussed is The Survey of Consumer Finances dataset.
- Subjects
UNITED States; AUTOMOBILE industry; FINANCE; BLACK people; INTEREST rates; RACE discrimination in consumer credit; FINANCE companies; BANK loans
- Publication
American Economic Review, 2008, Vol 98, Issue 2, p315
- ISSN
0002-8282
- Publication type
Article
- DOI
10.1257/aer.98.2.315