For most people, this final stage of the car-buying process comes after several hours spent at a dealership. You’re probably tired and hungry. Maybe the kids are with you and they’re trying to eloquently present their case that more candy from the vending machine is the only way to prevent them from running around and screaming more.
It is during these moments, as the papers to sign are quickly shuffled across the desk by a finance person, that people are expected to read all of the fine print. Unless people wanted to make buying a car an overnight trip, it is understandable that many decide to skip reading some paragraphs along the way and just sign or initial where instructed.
Unfortunately buried among the pages of fine print is one all-important word that is leading people to completely waive a constitutional right. That word is ARBITRATION and the Arbitration clauses being put into contracts today are a clear example of corporations taking away consumers’ rights.
The video below from the NY Times discusses the kind of damage that can be caused be these types of clauses. Please be sure to look out for more blog posts from Mintz and Geftic in the coming days on this very important topic.
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