>>The subprime auto lender catered to those “buy-here-pay-here” dealerships that cater to those with bad credit.
Who knew that lending money to people who routinely fail to pay their debts would be risky?
That’s why they have ridiculous interest rates.
It's too bad these people have dug themselves a hole, but a high payment car loan doesn't really help you.
They charge north of 30% interest. Their business model is designed to make money if 1/4 of their customers don’t pay.