How do people with bad credit buy new cars, people I know that have bad credit always seem to have new cars. How is it done?

They probably go to those places with the no credit, bad credit ads haha.

They are paying a HIGH interest rate!! Aka loan sharks!

Show that you have a job and pay 20% APR

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Originally Posted by jmbuzan

How do people with bad credit buy new cars, people I know that have bad credit always seem to have new cars. How is it done?

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they use dummy companies with little or no capitalization. Debt is transferred to these entities. Invariably, bankruptcy ensues. The people behind this scam make big money in arranging original debt and then subsequently sell inflated property sure to get beaten down into bankruptcy... =bankruptcy..