[Badray]

The used car market is extremely competitive and there are more used cars sold every year than new. The rates will stay high though for this type of customer, because even if a particular customer finishes paying for their car and establishes credit to qualify for regular financing the next time, there will always be a new supply of customers who need this service.

[general_re]

The rates will stay high though for this type of customer, because even if a particular customer finishes paying for their car and establishes credit to qualify for regular financing the next time, there will always be a new supply of customers who need this service.

Doubtful, if the market is as competitive as you say. Sooner or later, someone will figure out that they can drop rates at least somewhat and still maintain the same profit margin by virtue of the fact that they're saving by reducing the expenses incurred by repossessing, reconditioning, and reselling cars - even if it's a constant supply of people with horrible credit walking in your door, this chip is supposed to drastically reduce the likelihood of default. And once one dealer realizes this, their competitors will have little choice but to follow suit. Assuming the market is as competitive as you say, and ths chip actually works as advertised, of course... ;)