CFPB Orders Car Hop to Pay $6.4 Million for Damaging Customers’ Credit

CFPB Orders Car Hop to Pay $6.4 Million for Damaging Customers’ Credit Car Hop is one of the largest “buy-here, pay-here” car dealers with about 50 locations in 15 states. Here in California, Car Hop has retail lots in Daly City, Hayward, Vallejo, Richmond, Sacramento, National City and Escondido. Car Hop, which advertises cars for as little as $99 down, sells very old, high mileage cars at extremely high prices and at extremely high interest rates. Today, the Consumer Financial Protection Bureau (“CFPB”) announced it entered into a Consent Order with Car Hop and its financial arm, Universal Acceptance Corporation...

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