ASIC warns car buyers of predatory lending and dodgy fees | ABC NEWS

The corporate watchdog is warning car buyers that lenders are using manipulative tactics to lure borrowers to sign up for loans they cannot afford.
The Australian Securities and Investments Commission (ASIC) is urging lenders to inform potential customers of their rates and fees.
ASIC Commissioner Alan Kirkland says many people have been left with a greater debt than their borrowed amount as cars were overvalued and fees were added to the owing balance.

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