I have little respect for anyone that agrees to purchase under these terms.
Most people with bad credit seem to be in denial about why.
(Most, not all. divorce, med bills, etc.)
I once worked with a guy who bought a NEW truck at 27% interest. That kind of rate is the only way he could get the credit.
He was also one of the stupidest people I ever met, as you might have already guessed. But that's another story.
I suppose this could be more effective (and safer) than the repo man. A reminder of impending consequences rather than a burly bald guy being followed by a bunch of TV cameras shwoing up at 5 AM....
I think the key would be to buy a lot less car until you get back on your feet. Not pay these vultures.