Used car salesmen have always been at the forefront of creative financing.
I used to be in the used car high risk market. I have served in well respected positions of finance companies and banks serving dealers in sub prime auto finance.
The people we were lending to had no other choices. Today, with few clunkers the average guy can afford, people have very limited options for a vehicle on the secondary market. With the federal government taking over so many of the day to day functions of finance and lending I am surprised banks are in business.
Would you lend a vehicle to somebody with a 600 credit score, poor job history, one or two prior repos, a forclosure? Add a bankruptcy to the mix. There is a reason these folks are high risk.