High interest rates, quick repossessions dog auto buyers with poor credit
By Malena Carollo
| Times Staff
Published: August 4, 2017
Updated: August 4, 2017 at 03:21 PM
The PIDI buy here, pay here dealer advertises cars on Florida Avenue in Tampa. As defaults on subprime auto loans rise, there are rising concerns about abuses by some in the industry. [CHARLIE KAIJO | Times]
High interest rates, rising repossessions and severe mechanical issues — for consumers with bad credit, buying a car can be a minefield. Through interviews with a dozen borrowers who used subprime loans to buy vehicles and reviews of more than 100 online complaints, the Tampa Bay Times found some troubling practices in a little-supervised industry.
>>>READ THE STORY: >No credit, no problem? Exorbitant interest rates and quick repossessions after missed payments dog auto buyers with poor credit.>>