QUESTION

Can a Used Car Dealer in South Carolina charge a customer for secondary lending fees for bad credit in any shape or form?

Asked on Nov 21st, 2011 on Business Law - South Carolina
More details to this question:
If they can not by discreption can they be charged any way legally. I am just a Salesperson but I would like to be as honest as I can with my customer. Right now I''m being asked to not discuss the price with a customer who is credit challenged. Thank You
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1 ANSWER

Litigation Attorney serving Greenwich, CT
Partner at Hilary B. Miller
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It is not clear exactly what the nature of your question is. As a general matter, a lender -- including a seller who finances sales and then sells the loans to a bank or finance company -- can charge a higher finance charge to borrowers who are less creditworthy. These fees must be fully disclosed to the borrower.
Answered on Nov 24th, 2011 at 11:19 AM

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