cwerdna
Posts: 7921
Joined: Fri Jun 03, 2011 4:31 pm
Delivery Date: 28 Jul 2013
Location: SF Bay Area, CA

Buy Here Pay Here used car lots: vicious cycle: sign, drive, default, repossess and resell

Fri Jul 06, 2018 11:03 pm

I'd never even heard of such operations until something related to California law came up that applied to "Buy Here Pay Here" used car lots.

http://www.latimes.com/projects/la-fi-buyhere-payhere/ convinced me these businesses seem predatory, preying on the poor/those w/bad credit who need a car.
Last edited by cwerdna on Sat Jul 07, 2018 2:14 am, edited 1 time in total.

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LeftieBiker
Posts: 8903
Joined: Wed May 22, 2013 3:17 am
Delivery Date: 31 May 2013
Location: Upstate New York, US

Re: Buy Here Pay Here used car lots: visicous cycle: sign, drive, default, repossess and resell

Fri Jul 06, 2018 11:18 pm

We've had them here for years, and yes, they are. They essentially rent high mileage older vehicles for new car payments, repossessing and reselling them often.
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