APR% Based on Zip Code??
So we've been playing the finance game, shopping for the best terms etc., when get a reply from a dealer stating that our APR would be partially dependent on our location. Never heard of that before. ...
Forum Discussion
Super_Dave wrote:
It's profiling. Insurance companies sure do it.
Often there is a business reason for the "profiling".
There are risk for the lenders based on geographic differences. Insurance companies will use it to set rates based on their risk based on location. For example the closer you live to the border of Mexico the more you will pay for insurance. In the border cities the chances of being hit by an uninsured unlicensed driver is much higher than other parts of the country.
