Quote:
Originally Posted by luv
Also why they target people with no/bad credit. Higher likelihood they'll get the car back. They get so much money upfront, and charge a buttload on interest.
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Usually the down payment covers the value of the car. Once they get a single customer to make that payment, they can repossess it over and over again and resell it over and over again for a ridiculous profit margin. Only costs are collection/repossession. They'll do it until the car breaks down and might actually cost them something significant to repair.