Quote:
Originally Posted by Aquamania
Folks who buy at those dealers are subprime and really dont have the money to drive this vehicle. But yet want to look like they can drive an expensive car. Their friends are like its too plain bro!
What put's you so high and mighty you can call other people "SUBPRIME"?!?!?!
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It's not my term, it's an auto dealer and finical industry term.
Subprime is a finical industry term for folks with a credit score below 640-650. It's what you are considered to be if you can't get a conventional low interest loan. The buy here pay here lots specialize in catering to subprime borrowers, often with terms like they are required to pay and have low jack installed so the dealer can recover the car in the event of non payment....
Those folks are double penalized, old car, high interest rates usually north of 15%, and lots of repairs when they can ill afford the interest and repairs.
https://en.m.wikipedia.org/wiki/Subprime_lending