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Is this interest rate legal?

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C

cp79

Junior Member
What is the name of your state (only U.S. law)? NY

I have a new car loan to which I'm being charged an annual interest rate of 21.50. Should I contact a lawyer?
 


Y

You Are Guilty

Senior Member
cp79 said:
What is the name of your state (only U.S. law)? NY

I have a new car loan to which I'm being charged an annual interest rate of 21.50. Should I contact a lawyer?
Click to expand...
Exactly who is charging you? In what state is that entity located? What do your loan documents have to say about choice of laws? And perhaps most importantly, what do you hope to come from your line of inquiry?
 
C

cp79

Junior Member
You Are Guilty said:
Exactly who is charging you? In what state is that entity located? What do your loan documents have to say about choice of laws? And perhaps most importantly, what do you hope to come from your line of inquiry?
Click to expand...

Toyota Financial Services, based at Illinois. I'm curious to know if the rate that I'm being charged is illegal and if it is I would like to have it fixed.
 
Y

You Are Guilty

Senior Member
You can try contacting your local AG's office, but I wouldn't hold my breath:
http://www.ag.ny.gov/bureaus/consumer_frauds/contact.html
 
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