1989 Toyota 4Runner 4 cylinder 4x4 SUV Police Impound Auction Car For Sale

Stevescars.com is a used car lot located in Paducah Kentucky. Vehicles sold at this facility are purchased from Police Impound Auctions at a reduced price and resold to the General Public for a fraction of Retail. We sell used honda accords, Jeep Wranglers, and GMC pickups. We also make cash pawn loans on anything that fly's, floats, or drives. stevescars.com

1989 Toyota 4Runner 4 Cylinder 4 Speed 4x4 180,000 miles 2995. @stevescars.com Police impound Special

AUTO PRICES MAY BE NEGATIVELY IMPACTED AS CFPB CRUSADES AGAINST AUTOMOTIVE FINANCING

Consumer auto prices may be negatively impacted as the CFPB continues its crusade against automotive financing. The Consumer Financial Protection Bureau (CFBP) has increased its interest and desire to levy penalties against automotive lending organizations. Over $200 million in settlement fines have been collected by the federal governmental organization since 2013. The CFPB has stated their efforts to regulate automotive finance are due to interest rate inequality among certain racial groups.

However, as we’ve reported, the methodology the CFPB employed to determine that certain racial groups were discriminated against is questionable. It’s a methodology that has been essentially debunked in a study by Charles River Associates, which found that the CFPB’s proxy methodology could only identify a certain race correctly just 25 percent of the time.

The CFPB has reached settlements with a few large automotive lending organizations in their pursuit of lending equality, including Ally Bank and the American Honda Finance Corporation. For Honda, the CFPB ordered them to pay $24 million back to borrowers of certain racial groups that were found to have paid a higher interest rate on their loan than non-Hispanic white borrowers. In reaction to this order from the CFPB to pay back consumers, the lending arm of Honda has made a few changes. Speaking to the WSJ, an American Honda Finance Corp. representative said the company has made, “adjustments and modifiers in a way that continues to support our dealers’ business compensation as well as our customers’ financing choices.” Those choices consumers have might be more costly thanks to CFPB regulation. An example of a potential cost increase for the consumer was highlighted by the Wall Street Journal.

In the WSJ report, the regulations over the lending arm of Honda were explained. As part of its CFPB settlement, Honda has lowered its potential dealership interest rate flexibility from 2.25 percent to 1.25 percent while raising the wholesale rate. Honda has also decided to pay dealers 1 percent of the loan value out of its own pocket. For consumers with a credit score of 760 and above, the wholesale rate for a new vehicle starts at 3.4 percent verses 2.3 percent before the regulation. The example given is that assuming a dealership markup of 0.5 percent, a consumer with that excellent credit would end up with a 3.9 percent rate on their auto loan, compared with 2.8 percent before the regulation. For a 48-month loan of $25,000 that would be $586 in interest payments. While not all consumer and credit groups will be impacted the same as this example, it appears some consumers will pay more because of Honda’s reaction to the CFPB regulations.

The information provided in the example came from a pricing sheet that was sent out to Honda dealers in Texas. Jared Allen, spokesman for NADA, weighed in on this subject to the WSJ. Speaking of the CFPB regulation, Allen felt that it, “will invariably lead to many consumers paying more for auto financing.” What, if any, impacts have you felt at your store as a result of government regulations? Do you think the CFPB regulations will eventually help the consumer or cause more problems for dealers, automakers and consumers?

Stevescars.com is a used car lot located in Paducah Kentucky. Vehicles sold at this facility are purchased from Police Impound Auctions at a reduced price and resold to the General Public for a fraction of Retail. We sell used honda accords, Jeep Wranglers, and GMC pickups. We also make cash pawn loans on anything that fly's, floats, or drives. stevescars.com

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#CALIFORNIA RUST FREE CARS FOR SALE @stevecars.com #paducah#kentucky

The following are new arrivals to our used car lot in Paducah, Kentucky these vehicles can be purchased online and shipped to your door within a few days. These cars include a 95 Lexus, 2013 Ford Mustang Convertible, 98 Nissan Maxima with moonroof top and a 96 Nissan Quest. We do auto lay away.

The following motor vehicles are the newest inventory on our used car lot. Check out these pictures and contact us for a test drive.

WHY #BUY #POLICE #IMPOUND #CARS, #MOTORCYCLES, RECREATIONAL VEHICLES AND VESPA SCOOTERS

Cities all across America on any given day seize, tow in, or confiscate as many as 60 cars per day from law breakers. These vehicles in some case are theft recovers, abandoned vehicles or vehicles in which major and minor crimes have been committed with or in. The vehicles are sold weekly, daily and monthly at various police auctions. Vehicles range from classic, to clunkers, exotic and luxury. I have been buying these types of vehicles for over 10 yeas and saved myself thousands of dollars. Read my book "Buying Cars From Police Impound Auctions" and you will learn how to buy your next motor vehicle without having to put a second on your house.

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The following vehicles are for sale at present: 92 Jeep cherokee laredo ca car 4x4, 166,000 miles 95 Lexus SC300, 96 Chevy Caprice, and a 2004 Ford Escape: Call us at 415-987-6706 for more information about the police impound specials at our lot in Paducah, Kentucky. The #1 nationwide reseller of police auction cars.