Forum Post: Buy Here Pay Here Car Mills Are the New Wall Street Rape.
Posted 13 years ago on Oct. 31, 2011, 9:04 p.m. EST by HitGirl
(2263)
This content is user submitted and not an official statement
Selling desperate Americans cars at high interest rates and repossessing the cars to sell again and again is the new con that has got Wall Street's attention. Not only is it a money maker, but it's almost as fun as foreclosures. Wall Street loves misery especially when they can visit it upon down-on-their-luck Americans. Selling the same car again and again...is everybody who bought it expected to pay their loan? You could get rich off a single car. Is that really how it works?
Nowadays it's pretty easy. You can't get a loan anywhere else cause your credit sucks or is nonexistant, so you have a little money for a down payment and pay upwards of 30 percent interest for several years.
Your car also has a GPS added to the computer so they can track it and shut it down to make repos easier when you don't pay.
That's the only choice some people have, unless they find a car cheap enough to pay cash for. Kind of like Rent A Center for cars.
BTW, you also get boned since you can't cut a deal and most of the time pay full nada plus the full coverage insurance you'll need.
The simple solution is save your pennies and buy a used car you can pay cash for off Craigslist or somewhere. You'll thank me later.
Our they allowed to collect on several debts for the same car. That seems beyond the pale.
yes that's how it works and its been going on for many many years. its not a new game.
Agree. They were doing this more 30 years ago. Go to any town with a big military base and large population of young military guys and notice all of the shady car dealers on the local strip. That's what pretty much all of them have always been.
Check out this warning page before using buy-here-pay-here lots...
http://ezinearticles.com/?Warning-About-Buy-Here,-Pay-Here-Car-Lots&id=2567519
yes it is- there mind games they play with us causes us to want and consume- then they sell us something we can't afford-- so they can take it back and make money from us on the sale and the reposition. thats why ows has grown so fast- we are pissed and we are not going to take it anymore
car max? is that what you are talking about
Not sure. I heard it on the Norman Goldman show. It's detailed in an LA Times series.
you know printing money from the fed reserve drives up the price of everything. a lot of money went over seas and there are some people who spend money over here like no tomorrow. the locals here can barely compete with out making over 60 grand a year and that is the stone cold truth.
They think they have the politicians and the media, so they can act with impunity now and rape the American consumer into the stone age. They really need to pay a steep price for their arrogance and utter lack of humanity!
read this http://www.usagold.com/federalreserve.html