AUTO LOAN REFORM POLICY LETTER

Dear Elected Representative,

I am your constituent, and I am asking you to support the accompanying Policy for Auto Loan Reform.

Millions of Americans depend upon automobiles to work, care for their families, and conduct their daily lives. For many families, financing a vehicle is not optional—it is the only practical way to obtain reliable transportation.

The problem is that traditional automobile financing can leave borrowers building equity slowly while their vehicles depreciate. When a borrower needs to trade or replace a vehicle while owing more than it is worth, that negative equity may be rolled into the next loan.

The borrower can then begin the next automobile loan already owing more than the purchase price of the replacement vehicle and paying interest on the larger financed balance.

This policy asks for practical reforms that preserve consumer choice while giving borrowers a better opportunity to build equity.

I am asking you to support legislation that would:

• Require lenders offering automobile loans longer than 48 months to also offer an even-principal repayment option.

• Establish standards allowing an alternative fixed-payment structure designed to provide more consistent principal reduction while distributing projected interest more evenly throughout the scheduled loan term.

• Ensure that future unearned interest does not become part of the outstanding principal balance.

• Protect borrowers who pay their loans off early from being charged future interest for time in which the money is no longer borrowed.

• Require clear disclosure of the vehicle purchase price, amount financed, interest rate, APR, total projected interest, and projected principal balances during the loan.

• Require negative equity from a previous vehicle, along with other financed products, fees, and charges, to be clearly identified rather than simply incorporated into the new amount financed without meaningful explanation.

• Provide enhanced disclosures for automobile loans of 72 months or longer, including the effect of the longer term on principal reduction, total interest, and the risk of negative equity.

These reforms would not eliminate traditional automobile loans or prevent lenders from earning a reasonable return for lending money.

They would give consumers greater transparency and meaningful repayment choices while providing borrowers a better opportunity to reduce principal, build equity, and avoid carrying increasing amounts of negative equity from one vehicle loan into the next.

LET LENDERS COMPETE.

LET CONSUMERS CHOOSE.

HELP BORROWERS BUILD EQUITY FASTER.

REDUCE THE CYCLE OF NEGATIVE EQUITY.

Furthermore,

I am committed to standing with my fellow Americans to Support Policy NOT Politicians.

If you choose to ignore or dismiss this policy, I will take that as a failure to represent the people you were elected to serve. I will remember that when I vote, and I will encourage others to do the same.

We the People have had enough. Too many elected officials prioritize special interests over their constituents and avoid accountability. That era is ending. We will continue to organize, speak with one voice, petition our government, and hold public officials accountable through every lawful means available.

SUPPORT POLICY NOT POLITICIANS.

Respectfully,

[Constituent Name]

[City, State]

[ELECTRONIC SIGNATURE]

[CERTIFICATE]