North Texas Motorcars has a buy-here/pay-here financing method for people with damaged credit. How do a mitigate the risk of giving a car to a deadbeat that is not going to make payments:
The box – called a starter interrupt unit – is used mostly at used-car dealerships that provide financing to customers with bad credit. But other segments of the auto industry may adopt it, particularly if consumers' credit ratings continue to decline.
I think this could be a popular method of financing in the near future as the recent disasters subsequent to a $200 billion dollar war may put the U.S. on a recession from hell conveniently as Mr. Bush completes his final term forcing inevitable higher taxation.
I think it is a good idea. Its a win-win situation as it allows people with jacked credit to own a car and practically guarantees the sellers payment.
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