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If you're in the market for a car and your credit history is shaky or worse, you'll see plenty of dealerships with signs proclaiming "no credit, no problem," "buy here, pay here," "no credit check
Ugly Duckling arranged financing in several ways. The company prepared tax returns and let people use their expected refunds for down payments. The company allowed people to get Visa credit cards by paying a deposit to Visa. Also, those who made payments on time could have their down payment refunded, usually 10 to 15 percent of the purchase price.
Still, financing the down payment portion of your purchase with a credit card could be costly if you miss the deadline and the promotional term expires with a balance you still have to pay ...
Since 2008, many outside lending institutions have entered the market and the average down payment on a BHPH loan has significantly decreased, as dealers try to maintain a share of the market. [2] Many of the benefits of separating the RFC out from the BHPH dealership are based in the tax code changes of the Tax Reform Act of 1986 .
COVID-19 did not create companies like CarMax and Carvana. Fully online car-buying complete with vehicle delivery had been disrupting the industry for years before the pandemic arrived. The virus,...
In May 2020, TrueCar announced a restructuring of the company, including layoffs of 30% of its workforce. [37] On June 14, 2023, CEO Michael Darrow resigned after leading the company to four straight years of declining financial results. The company's CFO, Jantoon Reigersman took over as CEO and promptly laid off 24% of the company's employees ...
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