Graphics reporting by Ken Bensinger; illustrated by Lorena Iรฑiguez Elebee; animated by Lorena Iรฑiguez Elebee and Raoul Raรฑoa; edited by Les Dunseith, Robert Burns, John Corrigan and Steve Eames.
INTERACTIVE: Profiting from used car loans
Investment vehicles
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As it did with subprime mortgages, Wall Street has been bundling Buy Here Pay Here used car loans into securities. A hypothetical deal, based on actual transactions:
Copyright © 2012, Los Angeles Times
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Wheels of Fortune
A little-known corner of the used car business is thriving in a sour economy
Part One: Dealers profit even when customers hit skids
Part Two: Why Wall Street is betting on Buy Here Pay Here
Part Three: Is there a better way for the working poor to find wheels?
Interactive: How used car sales work
Video Q&A
Reporter Ken Bensinger explains Buy Here Pay Here. Click on a question below.
What is Buy Here Pay Here?
Why have I never heard of Buy Here Pay Here?
Why would anyone use Buy Here Pay Here?
How do these dealers make money?
What's Wall Street's involvement?
Are there alternatives to Buy Here Pay Here?
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