Ugly Duckling ripping off consumers at 29% interest, how can they file bankruptcy charging 29.9%
Ugly Duckling Corp. Is a very unique a car dealer. The Ugly Duck sells cars for double their worth to the consumer that has no options. How can they feel good about what they do to the unfortunate consumer in most cases?
can't make money at 29.9 %? How is that?
It is reported that the Duck makes high-interest auto loans to people with bad credit. Charging as much as 29.9%. I have one of their car buyers contracts. I have seen what they do to the car buyer that has no options. If a consumer pays more than the car is worth and also pays an extremely high interest rate, how will they ever get the high mileage car paid off before it is ready for the junk yard. Maybe the duck owns a junk yard as well?
SELLING THE SAME CAR MANY TIMES
The number of vehicle repossessions averages 55 percent. What does the car dealer do after they repo the over priced car? Answer: Sell it again. Sounds like POOR management to me that they can't make money. If a dealer can repo 55% of the cars they sell and try to sell them again, How can they loose?
All the Buy Here - Pay Here Car lots should be regulated and watched more closely.
Only poor suckers go to auto lots like Ugly Duckling to buy an over priced car.
Stick Bogart
usacomplaints.com
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