For most Americans, automobiles are often either their largest or second largest household asset and many cars are purchased with the help of a car loan. But most Americans are paying higher interest rates than they could have had they shopped around more. This was uncovered by Christopher Palmer, Assistant Professor of Finance at the MIT Sloan School of Management, during his research. After looking at millions of borrowers across all 50 states they discovered that most people take the first car loan they’re offered and miss out on savings or buying a nicer car.

MIT Sloan Experts Blog: http://mitsloanexperts.mit.edu/youre-...
Christopher Palmer Biography: http://mitsloan.mit.edu/faculty-and-r...