Car repair

Consumers lured by predatory auto repair loans: report

“Auto repair shops across the country, including major auto repair companies, are directing struggling consumers to deceptive, high-cost loans with lasting impacts, including damage to credit reports and harassment for debt collection,” says Rachel Gittleman, financial services outreach manager at the Consumer Federation. from America.

In response to the allegations, Jennifer Friedmann, spokeswoman for Jiffy Lube International and its parent company, Shell, said the companies had no relationship with EasyPay Finance. However, she went on to say that “Jiffy Lube Service Centers are independently owned and operated by third-party franchisees, who establish relationships with a variety of different vendors. JLI is not aware of any of its Jiffy Lube franchisees working with EasyPay Finance.

“All Midas locations and most Big O locations are independently owned and operated by Midas and Big O franchisees,” says Jonelle Compiani, spokesperson for TBC Corporation, which is the brands’ parent company. “A typical franchisee offers several financing options to ensure they can help all customers, regardless of income or credit status, with their automotive needs. EasyPay Finance is a source of financing that some franchisees choose to make available to their customers. Franchisees own and operate their business and as such do not need approval from Midas, Big O or TBC to offer secondary financing through EasyPay. TBC is not an EasyPay partner.

Consumer Reports did not receive comment from Grease Monkey’s parent company, Full Speed ​​Automotive; Icahn Automotive, the parent company of AAMCO and Precision Tune Autocare; or Driven Brands, Meineke’s parent company.