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Strategies & Market Trends : Value Investing
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To: geoffrey Wren who wrote (46674)2/19/2012 7:57:57 PM
From: Jurgis Bekepuris1 Recommendation  Read Replies (1) of 78673
 
OT: BHPH

I would not say so much that they are taking advantage of the poor as that they are taking advantage of the ignorant. After all, with a little effort one could get on Craig's list and buy a car for $2,000, and avoid the markup and interest fees.

+1. My first car was $1K Toyota, my mother's first car was $700 Toyota. We drove them, repaired them and never had to pay markups or interest. Sure they were not new or glam, but they worked and they were cheap. No $200-400 per month payments. I sold my used Jetta to someone on Craigslist for $800 in cash. I am sure they are also fine with it. They likely were not rich, but they had sense to buy cheap.

The examples in the article talk about people who come to BHPH after having conventional leases expire. This just shows that the people were not good at financial decisions to begin with...
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