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SAN), didn’t explain to customers that interest-only monthly payments would increase the total cost of the loan, according to the people familiar with the CFPB action. Also, the lender didn’t.
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For guaranteed approval, we look for at least $1,500 of monthly income. And we may also consider your debt to income ratio as a factor. This means that we want to make sure that taking on an auto loan payment won’t compromise your ability to pay your other monthly bills.
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