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This has nothing to do with intelligence. The rates offered was not the same, and the only way you would actually know that is to actually ask someone who recently purchased a car from that dealership that was in most or all ways similar to the one you want to purchase.
It's not that complicated. They start with a high rate and see if you balk. Those that know better either talk them down on it or finance somewhere else.
It works the same way as purchase price which is more commonly understood to be something you haggle over.
Therefore, by default you get younger people, dumber people and those that haven't taken time to (or care) check the internet or ask a friend about car buying strategies or shop around for financing.
I'm always shocked when you have people that can recognize that educational attainment for minorities is lower (due to history) but then can't connect the dots to them getting worse deals on transactions.
You know what they tried to do when my friend was car shopping and I was helping? I balked at the first number and they kept everything the same except increased the loan term from 60 to 84 months thus "lowering the payment". You think everyone has an equal ability to understand that is not a "savings"?
The proof is in the article where it already stated that the rates werent based on credit and that is how they broke the law.
You clearly didnt read the source material.
The "law" they broke was the same one the NBA is currently breaking with it's hiring practices.
Disparate impact theory at work....selectively applied.
Honda paid to make this go away because the government would drag their reputation through the mud for years while it played out and can spend tons on lawyers without blinking.
"Like most other major auto lenders, Honda's business practice allowed car dealers discretion to vary a loan's interest rate based on a borrower's objective credit-related factors, the officials said."
What does that mean? If it's "objective" then it sounds like they're basing the interest rate on a fixed system, such as credit score and history. Are credit scores racist? Maybe we should wipe them away and give everyone an 800.
All this hoopla over $250 over the term of the loan. The horrors.
"An average African-American buyer of a Honda or Acura vehicle had to pay more than $250 extra during the term of a loan as the result of racial discrimination, federal officials said. An average Hispanic buyer paid more than $200 extra, and Asian and Pacific Islanders paid more than $150 extra, the officials said."
"federal officials said" Hell that settle it.We know federal officials are ALWAYS right. fast & Furious, the IRS, the DOJ, etc.
""Honda affirmatively asserts that it has treated all of its customers without regard to race or national origin, and that its business practices have promoted and achieved fairness across all customer groups, the company said in the consent order, which was filed in a California federal court and requires judicial approval."Furthermore, Honda has not been informed that the United States contends Honda or any of its employees engaged in any intentional discrimination or disparate treatment of minorities," the company said.'
It's not that complicated. They start with a high rate and see if you balk. Those that know better either talk them down on it or finance somewhere else.
It works the same way as purchase price which is more commonly understood to be something you haggle over.
Therefore, by default you get younger people, dumber people and those that haven't taken time to (or care) check the internet or ask a friend about car buying strategies or shop around for financing.
I'm always shocked when you have people that can recognize that educational attainment for minorities is lower (due to history) but then can't connect the dots to them getting worse deals on transactions.
You know what they tried to do when my friend was car shopping and I was helping? I balked at the first number and they kept everything the same except increased the loan term from 60 to 84 months thus "lowering the payment". You think everyone has an equal ability to understand that is not a "savings"?
And this folks, is why I don't go to car dealerships.
You are just word vomiting as progressive libs often do. If on average more white people earned better credit and negotiated a better deal and blacks did not and you reward blacks the same anyway, you have created an unlevel playing field. You now have no incentive for whites to work toward earn something that the government gives away unearned. And you have not offered equal protection to the whites who did not negotiate a lower rate. Then you have falsely tainted a business.
This is enabling failure, discouraging efforts toward achievement and besmirching others for nothing other than holding a fair competition.
Prove that all blacks were offered a higher interest rate than all whites were offered.
I don't understand why on earth are you against the settlement and fighting like your first born got taken away?
Trying to tie incentivization to making people negotiate like crazy for a loan rate? Man, get a grip.
Why does any settlement that remedies wrongs made against African Americans just make your head explode?
Because many of these are false wrongs and an indirect way of calling someone a racist.
So how does this affect you? It's like single sex marriage - if you don't like it - don't do it. What does African Americans getting a fair shake on financing have to do with affecting your life?
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You think everyone has an equal ability to understand that is not a "savings"? 
