My girlfriend amazingly got a very good job recently. She bought a 2008 Mitsubishi for $14,000.
She put $5,000 down, financing just $9,000. With taxes license et all, The pure vehicle costs $150 per month for 5 years. She had no credit history, and was told she would be charged 16%. Her monthly payment was mysteriously set at $276 per month.
She is being charged an obscene 78% financing charge every month for 5 years bringing the financed car to $21,000 dollars.
This is the most horrible predatory business practice I have ever seen. Just despicable!