Car Financing Dispute, Rent-to-Own Option

This is a news story, published by Yahoo Finance, that relates primarily to Yo-yo news.

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car loan

Moneywise

•

Business

Business & Economics

I just financed a car for $15,000 at 14.89% APR — but then got a call saying my rate is now 15%. What do I do?

Summary

Nutrition label

64% Informative

Yo-yo financing is a deceptive tactic used by auto dealers that allows you to drive the car off the lot before the financing is fully finalized.

You are then informed that the loan fell through and that you must accept less favorable terms to complete the purchase.

The average user car loan rate was 11.87% in Q1 2025 , according to Experian .

Financing an auto loan through your dealership may be convenient, but you're probably better off reaching out to banks and credit unions to see what rates they offer.

Choosing a shorter auto loan term can lower your interest costs, assuming you can get the same interest rate or better.

You can also save on interest by taking out a smaller loan, by providing a larger down payment.

VR Score

Informative language

Neutral language

Article tone

informal

Language

English

Language complexity

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not offensive