Make us your home page
Instagram

High interest rates, quick repossessions dog auto buyers with poor credit

The PIDI buy here, pay here dealer advertises cars on Florida Avenue in Tampa. As defaults on subprime auto loans rise, there are rising concerns about abuses by some in the industry. [CHARLIE KAIJO   |   Times]

The PIDI buy here, pay here dealer advertises cars on Florida Avenue in Tampa. As defaults on subprime auto loans rise, there are rising concerns about abuses by some in the industry. [CHARLIE KAIJO | Times]

High interest rates, rising repossessions and severe mechanical issues — for consumers with bad credit, buying a car can be a minefield. Through interviews with a dozen borrowers who used subprime loans to buy vehicles and reviews of more than 100 online complaints, the Tampa Bay Times found some troubling practices in a little-supervised industry.

> > >READ THE STORY: >No credit, no problem? Exorbitant interest rates and quick repossessions after missed payments dog auto buyers with poor credit. >>

High interest rates, quick repossessions dog auto buyers with poor credit 08/04/17 [Last modified: Friday, August 4, 2017 11:21am]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Related Group breaks ground on complex at old Tampa Tribune site

    Real Estate

    TAMPA — When Miami developer Jorge Perez first eyed a 4.2-acre tract on the west bank of the Hillsborough River two years ago, people asked him if he wouldn't prefer to build on the opposite side closer to the downtown core.

    No way.

    From left, Related Group executive associate Arturo Penaa, Jorge Perez, center, founder and CEO of the Related Group, Mayor Bob Buckhorn and Steve Patterson, the President of Related Development dig their shovels  during the groundbreaking ceremony of the 400 unit Riverwalk Manor apartment complex on site of the old Tampa Tribune building on Wednesday. [OCTAVIO JONES | Times]
  2. Eat 3-course meals for $35 at these 100 restaurants for Orlando's Magical Dining Month

    Food & Dining

    In the early 1900s, hotels offered "table d'hote" or "prix fixe" menus as a form of loss leader. Hotels didn't necessarily make money on these lower-priced, multi-course meals, often served at communal tables, but they made up for it on the booze. Prohibition may have contributed to a gradual shift toward a la carte …

    Bulla Gastrobar serves a variety of Spanish and Portuguese dishes.
  3. Plant City farmer hopes robot pickers can save strawberry industry from shrinking labor force

    Agriculture

    PLANT CITY — If current trends continue, the region's status as a major strawberry producer will depend in large part on what happens in Mexico.

    Strawberry pickers work during the daytime, when fruit is more likely to bruise. Machine pickers can work at night. The owner of Wish Farms in Plant City is developing automated pickers and hopes to see them at work on a widespread basis in five years. [Times file]
  4. Lightning GM Steve Yzerman sells house for $3 million to new player

    Real Estate

    TAMPA — Tampa Bay Lightning General Manager Steve Yzerman's multi-million Davis Islands home is staying in the Lightning family. Yzerman sold his 6,265-square-foot house Monday to new defenseman Dan Girardi for $3 million.

    The Davis Islands home of Tampa Bay Lightning General Manager Steve Yzerman sold for $3 million Monday to Lightning defenseman Dan Girardi. | [Courtesy of Hi Res Media]
  5. Trigaux: As Florida seeks top 10 status as best business state, red flag rises on workforce

    Business

    In the eternal quest to appeal more to business than other states, Florida's managed to haul itself out of some pretty mediocre years. After scoring an impressive 8 among 50 states way back in 2007, Florida suffered horribly during and immediately after the recession. Its rank sank as low as No. 30 only four years ago, …

    Florida's trying to make strides in preparing its high school and college graduates for the rapidly changing skill sets of today's workforce. But the latest CNBC ranking of the best and worst states for business gave Florida poor marks for education, ranking No. 40 (tied with South Carolina for education) among the 50 states. Still, Florida ranked No. 12 overall in the best business states annual ranking. [Alan Berner/Seattle Times]