Australia’s corporate regulator, ASIC, has cautioned consumers about increasingly high fees and interest rates associated with car loans. The warning follows a surge in complaints regarding auto finance products. The report highlights potentially deceptive practices and financial traps for borrowers. ASIC found many customers are unaware of the full costs involved, leading to unexpected financial burdens. These costs include excessive establishment fees, ongoing charges, and high interest rates. The regulator urges consumers to carefully compare loan options and understand all associated fees before committing to a purchase, and is reviewing industry practices.