Avoid Predatory Lending in the Used Car Industry

Combating predatory lending, beginning with the used car industry, is a strategic priority of DCA. Goals of the public education and outreach campaign include:

  • Prevention: We want to help New Yorkers avoid falling prey to predatory lending.
  • Education: We want to arm New Yorkers with tips to help them make good choices at every decision point, including before they visit a dealership; before they sign; after they realize they have been harmed.
  • Awareness: We want New Yorkers to know how DCA can help and how to contact us.

Consumer Bill of Rights

On June 26, 2018, DCA announced that all used car dealers in New York City are now required to provide consumers with a Consumer Bill of Rights, a financing disclosure form, where applicable, and a cancellation option—all of which must be in the language used to negotiate the contract.

Public Education Campaign Ads

The campaign advertisements highlight the over-the-top approach used by dealerships such as their eye-catching low prices and assurances about financing despite your credit scores. DCA’s campaign provides a reality check about advertised promises, reminding consumers that if a deal sounds too good to be true, it probably is.

If it sounds too good to be true, it is.
If it sounds too good to be true, it is. Consumer Affairs can help you avoid a bad deal at a used car dealership. View full ads.

Si suena demasiado bueno para ser cierto, lo es.
Si suena demasiado bueno para ser cierto, lo es. El Departamento de Asuntos del Consumidor puede ayudarlo a evitar un mal acuerdo con un vendedor de carros usados. Ver anuncios.

Consumer Resources

Read our online guide to Getting Your Finances in Gear to Buy a Used Car, available in 8 different languages.

Need help getting your finances in order before buying a car? Make an appointment for free, one-on-one financial counseling at one of the City’s Financial Empowerment Centers by calling 311.

If you feel that a used car dealer misled you about the price of a used car or sold you an unsafe automobile, file a complaint online or call 311.

Business Resources

By supporting businesses through equitable enforcement and access to resources and by helping to resolve complaints, DCA protects the marketplace from predatory practices and strives to create a culture of compliance

If you buy or sell secondhand automobiles, you must have a Secondhand Dealer Auto license. See license application checklist.

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