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by toiletoctopus,  in Cars & Motorsports
Great Review, and very helpful. You are so right about those dealerships that offer those "bad credit deals." I know a lot of them in my area, and they are a scary animal. I couldn't believe how many tricks there are at those establishments, and you are right about the 50% rule. That seems to be etched in stone, and then the rates are through the roof. I'm starting to wonder about usuory laws, and if they have any real effect sometimes.
I now realize how predatory some businesses are towards people with bad credit. I understand that some people are a higher risk, but it really does hurt if your credit score is low. A few years ago Ralph Nader was hammering away at Rent to Own Establishments, for ripping off poor/credit issue people. I didn't quite understand, until I did some research. Those places were renting to own tv's that cost $500, that would eventually reach $1200 with their "kind" extended payment plans. I've heard the term loan shark, but these guys made them look kind!
Thanks so much..I look forward to more reviews from you. This one should help a lot of people.
Mike
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Jan 06 '06
3:20 am PST
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