Consumers Lured Into Predatory Car Repair Loans: Report

Consumer Reports | By Octavio Blanco |

A coalition of consumer advocates is warning drivers to avoid loans with up to 189 percent interest from franchises of major car repair brands

Auto repair shops affiliated with well-known brands—including AAMCO, Big O Tires, Grease Monkey, Jiffy Lube, Meineke, Midas, and Precision Tune Auto Care—are steering unsuspecting customers into loans charging up to 189 percent interest, according to a study by consumer advocacy groups including Consumer Reports.


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