Discussion to prepare buyers for auto financing

The Federal Trade Commission will host the second of three roundtable discussions in August to discuss the consumer experience in sales and auto financing at dealerships. The discussion - which will be available to watch live via webcast - will be held at St. Mary's University School of Law in San Antonio, Texas. During the meeting, panelists will discuss the experiences of military consumers and general financial literacy, as well as fair lending. The first roundtable, held in Detroit in April, touched on consumer protection issues involving dealership sales and financing of all types of vehicles. A study by credit reporting agency Equifax revealed that loans from auto financing companies rose by 1 percent to $19.24 billion in March, with the average payment around $397 per month, Forbes reports. Auto financing offers a variety of positives for consumers, such as special manufacturer-sponsored programs, access to banks and financial entities or hidden credit. However, the process is complicated and could potentially involve deception, so buyers need to be cautious of the intricacies involved.