re: #452 Gus 802

A vicious cycle in the used-car business

This is the latest trend at all used car dealerships. They won’t let you but some cheap thing for $7000 grand or less. They claim “the bank won’t approve anything for less than 10 grand.” So they force people who really need a car to get a car they can’t afford leading to high monthly payments and eventually they get repossessed. It’s a scam and the banks are working with the dealerships. Better off getting the cash raised and buying something cheap and not fall into this “Great American Financial Trap” — one of many.

The used-car bubble? Really?