November 26, 2022

Javier14mascherano

Born to perform

Consumers Lured Into Predatory Car Repair Loans: Report

2 min read

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“Auto repair shops throughout the country, including major auto repair companies, are steering struggling consumers into deceptive, high-cost loans with lasting impacts, including credit report harm and debt collection harassment,” says Rachel Gittleman, financial services outreach manager at Consumer Federation of America. 

In response to the allegations, Jennifer Friedmann, a spokesperson for Jiffy Lube International and its parent company, Shell, says the companies have 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 has no knowledge of any of its Jiffy Lube franchisees working with EasyPay Finance.”

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

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

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