Make us your home page
Instagram

High interest rates, quick repossessions dog auto buyers with poor credit

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]

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. >>

High interest rates, quick repossessions dog auto buyers with poor credit 08/04/17 [Last modified: Friday, August 4, 2017 11:21am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming

    Roads

    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]
  2. A sports rout on Wall Street

    Retail

    NEW YORK — Sporting goods retailers can't shake their losing streak.

  3. Grocery chain Aldi hosting hiring event in Brandon Aug. 24

    Retail

    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  4. Lightning owner Jeff Vinik backs film company pursuing global blockbusters

    Corporate

    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]
  5. Trigaux: Look to new Inc. 5000 rankings for Tampa Bay's future heavyweights

    Business

    There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.

    Yet.

    Kyle Taylor, CEO and founder of The Penny Hoarder, fills a glass for his employees this past Wednesday as the young St. Petersburg personal advice business celebrates its landing at No. 25 on the 2017 Inc. 5000 list of the fastest growing private companies in the country. Taylor, still in his 20s, wins kudos from executive editor Alexis Grant for keeping the firm's culture innovative. The business ranked No. 32 last year. [DIRK SHADD   |   Times]