PriceProtect™
DriveShield™
GarageGuard™
Services
Insurance
Car Insurance
Compare Car Insurance with Jerry
Jerry’s Expert Advice
Car Insurance Estimates
Home & Renters Insurance
Renters Insurance
Loans
Car Loan
Compare Car Loans with Jerry
Jerry's Expert Advice
Car Loan Guides
Repairs
Car Repair Estimates
Repair Estimates for Popular Services
Advice
Read Car Content
Browse Jerry Car Advice
Check Out Expert Car QnA
Learn About How We Create Content
Jerry Data & Research
What is the definition of usury law?
I know that it is an older term. How does it apply to a car loan I want to get?
Emily Maracle · Updated on
Reviewed by Shannon Martin, Licensed Insurance Agent.
“Usury is defined as: the illegal action or practice of lending money at unreasonably high rates of interest.
Usury is not federal law. Instead, every state regulates usury law to eliminate or curb predatory lending practices. States also decide who the regulations apply to. In many cases, usury law only applies to certain businesses; others are exempt.
Although not always exempt, may lenders for
car loans
are known for predatory lending practices. This is because most states allow high interest rates if the consumer willingly signs the contract. Always read a loan agreement thoroughly to avoid falling victim to these types of contracts.Shopping for interest rates for your new card? Check out the
Jerry
, which provides you with dozens of quotes from top insurers in just a few seconds.”View full answer
- Gregory R.
WHY YOU CAN TRUST JERRY
Jerry partners with more than 50 insurance companies, but our content is independently researched, written, and fact-checked by our team of editors and agents. We aren’t paid for reviews or other content.
Join 4M+ members in lowering their car insurance
You Might Also Be Interested
Read Advice From Car Experts At Jerry
What Others Are Asking
Browse More Content
Insurance in Your State
Easiest way to compare and buy car insurance
No long forms
No spam or unwanted phone calls
Quotes from top insurance companies
