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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?
It's how they determine the fair shake and who gets special treatment.
I doubt Honda did wrong but it doesn't stop people like you to cry racism when it's not.
So, the average price of a Honda this week is $22,040. Over the life of the average 48 month loan, that $250 is a 0.3% difference in interest rates.
This is about 0.3%? Really?
It's how they determine the fair shake and who gets special treatment.
I doubt Honda did wrong but it doesn't stop people like you to cry racism when it's not.
That is the oldest most tired bunkum - label civil rights moves as "special treatment" - that's been done with marriage equality and it failed.
Again, so why are you against fighting discrimination? Or are you just upset that black consumers are getting a fair shot at a loan like everyone else?
That is the oldest most tired bunkum - label civil rights moves as "special treatment" - that's been done with marriage equality and it failed.
Again, so why are you against fighting discrimination? Or are you just upset that black consumers are getting a fair shot at a loan like everyone else?
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?
Where you are confused is that the wrongs against AA's have resulted in core issues like poorer schools, less education and so forth.
When that manifests in poor negotiation at a car dealership it's not because they are black that the loan rate is higher but because they were less educated in general which is caused by OTHER past racist actions.
So, the government for example operates crappy schools in urban areas which have low graduation rates and other social problems and when these underprepared individuals make poorer than average financial choices.....it's suddenly the fault of car sellers? That's what disparate impact says....and it's a load of poop.
The idea that car salesmen are giving lower interest rates to white people "because they're white" is freakin' hilarious. I've bought or helped negotiate the purchase of 6 cars in 6 years and in every single case they tried to screw me over on interest rate....and I'm a middle aged white guy.
They're out to sell a car for as much as possible, if you are uneducated then it's just easier.
That is the oldest most tired bunkum - label civil rights moves as "special treatment" - that's been done with marriage equality and it failed.
Again, so why are you against fighting discrimination? Or are you just upset that black consumers are getting a fair shot at a loan like everyone else?
The best deal I've seen negotiated in recent years was by my friend who is a "black consumer". They'd been gouged before by car salesmen and this time asked their friend (me) to write down negotiating points and help them do a little research.
They b-slapped that salesman up, down and all-around and got free oil changes, carwashes and service plan thrown in on top.
It's not skin color. It's education.
This is what really is annoying because we all know about the history of racism and how that relates to blacks today having higher rates of poverty, lower education etc.
Yet despite all this they should still be just as financially savy, be able to get into difficult STEM fields etc. as everyone else....or it's racism? Yes it is racism....it's just the end of the chain getting the blame while the front of the chain (often the US government) dogpiles on the end of the chain so as to avoid culpability.
The world will always be a harsher place for the less educated.
I for one don't view treating symptoms and calling it a victory as either progress or equity.
But the people that turn a blind eye or devote less effort to the actual disease sure like the distraction and even pats on the back when they manage to scapegoat the symptoms as the problem.
So, the average price of a Honda this week is $22,040. Over the life of the average 48 month loan, that $250 is a 0.3% difference in interest rates.
This is about 0.3%? Really?
I just saw this thread and read that same thing in the article.
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.
Give me a freakin' break. $62/yr for black people over 4 years, or $50/yr over a 60 month loan. And that's the worse case scenario.
The point is everyone is afraid of the government and lawyers. They can pretty much get anything they want outside of a mass revolt.
Status:
"everybody getting reported now.."
(set 26 days ago)
Location: Pine Grove,AL
29,568 posts, read 16,556,695 times
Reputation: 6044
Quote:
Originally Posted by eddiehaskell
So these dealerships had policies that stated blacks WILL ALWAYS pay more regardless of credit score? I wonder if any savy blacks got rates as good or better than many whites?
The article and the CFB both clearly state that credit rating was not taken into account and that is how they broke the law.
Why do you keep talking about credit ratings when the very point of the article is that credit ratings werent the cause ?????????
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