My first blog post for the Huffington Post:   Senator Sam Brownback (photo), a Kansas Republican, writes an amendment exempting auto dealers from a proposed new consumer financial protection bureau, Barack Obama  denounces Brownback's amendment as a "special loophole."  Meanwhile, the bigger worry for car dealers isn't so much the President as the military.  The Department of Defense has thrown its considerable heft behind those insisting that automobile purchases and dealer-assisted financing need to be part of any comprehensive financial reform package.  Learn about yo-yo deals, power booking, and how our men and women in uniform -- especially the lesser-paid grunts -- are often targeted by nefarious car dealers.   I also wrote on this topic for The New York Times.


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  • Karl Dickhaus

    I always recommend Remar Sutton's excellent book - "Don't Get Taken Every Time" for people who want to understand the nefarious methods of crooked car dealers. Even honest car dealers engage in much of the same financial chicanery used by their more corrupt cousins. The atmosphere of the car business is such that "tricks" like pushing all of the profit into extended warranties for example, or buying the financing at 8% and selling it to the buyer at 10% - are accepted everyday practices.