But the high price of vehicles is not the only financial challenge confronting Black and other consumers of color. Similarly, another recent independent study by the Century Foundation concluded that Black, Hispanic, and American Indian borrowers are given higher interest rates on auto loans across all credit tiers. Research published by the Federal Reserve found Black borrowers disproportionately pay the highest interest rate mark-up, resulting in more than $3,000 in additional interest over the life of the loan. Beyond auto sale, dealer financing exposes consumers to interest rate markups, hidden fees, and unaffordable loan terms. “This report shows how the advantages auto dealers and lenders have over consumers result in exploitation,” noted Lucia Constantine, report co-author and a CRL senior researcher.