In theory, it's a win-win for used car dealers to offer their own financing. They make more money by selling more cars, and it allows people with bad credit to buy a vehicle. But while some "Buy Here, Pay Here" dealerships run their business honestly, John Oliver knows that many of them don't.

The average interest rate on a "Buy Here, Pay Here" auto loan, for example, is 19 percent, with some reaching as high as 29 percent. When you include markups and add-ons, someone buying a $3000 car could easily end up paying three or four times that over the course of the loan.

These dealers also aren't exactly flexible on payments. They're known to repossess cars if even a single payment is late. And as one woman found out, they'll even take your car if there's a child inside. You know, because it's totally acceptable to kidnap someone's child if they're a couple days late on a car payment.

But believe it or not, high interest rates and aggressive repossession tactics are only the tip of the iceberg when it comes to subprime auto loans. It gets even worse the more you dig. Last Week Tonight host John Oliver does a great job explaining how much worse it gets in his latest episode. Give it a watch, but be prepared to get very angry.

This content is imported from YouTube. You may be able to find the same content in another format, or you may be able to find more information, at their web site.

via Jalopnik

This content is created and maintained by a third party, and imported onto this page to help users provide their email addresses. You may be able to find more information about this and similar content at piano.io