|
I used to work for a company that owned a car dealership like this. It's a "Buy Here Pay Here" kind of place for people with very bad credit. Places like that charge over book value on used cars and hit customers with APRs anywhere from 10% to as much as 30%. If the customers are as much as a day or two late on their payments they use these devices to remotely disable the cars. So you either pay up or they come and repo. This is like sub-subprime credit stuff. It's a shitty and shady business.
|