What is happening to our country under Trump and his butt kissing Republicans is a tragedy.

market isn't on new vehicles but is on older "over-priced" vehicles too. The sub-prime racket has been, for a long time, to take people deeply in need of a car who have lower credit scores and sell them a used car that sometimes is thousands of dollars over book value. The person takes the deal because they are at the end of their options but they end up owing so much more and if they try to sell the vehicle to get out from under the loan they can't sell it for anything close to what it would take to pay off the loan.

But it gets even worse. Dealers and their finance departments aren't required to offer you the lowest financing you qualify for. Therefore it is not unusual for a finance officer to tell a customer "I got you the loan but CITI/Chase/BOA etc. wanted 13%." Truth be known the person may have a perfectly good credit score but if they aren't familiar with credit and financing they may not know to call their bank and see what interest rate the bank would do. That's assuming the bank would even be honest with them. Not a sure bet anymore at all. The online lending scams like Lending Tree etc. are a pathetic joke. I've seen people with nearly A credit get rejected but lo and behold a day later they've got 3 offers in their e-mail for a sub-prime financing deal at a high rate.

Financing and finance companies are parasites compared to the way it was many decades ago and even then you had to watch out.

If there are, they should be repealed. A loan company built on the planned failure of your borrower kinda sucks.

… you may soon be able to finance your next auto loan via a 50-year mortgage, so the monthly payment will be affordable!