As with most things that involve money and trust, there are a few ways to look at the situation. Lenders get to offer more loans (and collect waaaay more interest -- think twice monthly payments at 20 percent interest) while regular folk get to drive to work and pick their kids up from school. Sounds almost like a win-win... until you realize that beyond the sky-high rates, people's whereabouts are constantly forfeit -- some dealers have even installed GPS trackers without telling their customers -- and there's been at least once instance where a car was remotely disabled while someone was actually driving it. As John Oliver suggested for payday loans, maybe a better alternative to the buy-here, pay-here shops that use these methods is pretty much anything else.

[Image Credits: Pocketnavigation.de]