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Money which is not paid when due, under a payment plan or amortization schedule. Blacks paid a typical auto loan rate of 7 percent for new cars, compared with a rate of 5 percent for whites in 2004, according to a consumer organization's analysis of the Federal Reserve Survey of Consumer Finances. Whether credit card issuers compete to attract and hold customers by lowering interest rates depends in part on the sensitivity of current and potential cardholders to differences in rates among issuers.

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