Is it legal for any lending institution, to charge 25% interest on a used car loan?

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2000 chrysler concorde, financed for 30 months, at 25% interest

Is it legal for any lending institution, to charge 25% interest on a used car loan?

If you pay it it is.

Is it legal for any lending institution, to charge 25% interest on a used car loan?

yes, they can charge you whatever they want, but that dosn't mean that you have to take it.

Is it legal for any lending institution, to charge 25% interest on a used car loan?

laws vary state to state...they are called usury laws

Is it legal for any lending institution, to charge 25% interest on a used car loan?

Yes. Credit card companies charge up to 29% on "iffy" creditors. You don't like their interest rate, go somewhere else. That said, they DO have to disclose what interest rate they're going to charge you before you sign the loan papers.

Is it legal for any lending institution, to charge 25% interest on a used car loan?

Unless your state or area has a law against it, then it's perfectly legal. It's your responsibility to see what the interest rate is an either agree or disagree to sign the papers.

Is it legal for any lending institution, to charge 25% interest on a used car loan?

Yes. The government lifted the cap a few years back. It is now up to the customer to accept those terms or turn them down for a better offer. If you are only able to get a loan with high interest rate due to your credit rating you should seek financial advice from a professional who can help you get your life back on track

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Is it legal for any lending institution, to charge 25% interest on a used car loan?

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