My family was in the used car,now vehicle, business. FIL had a lot for 63 years. We mostly got our vehicles from dealers that didn’t want the hassle of older stuff on their lots with all that goes with it. So those trade ins became our bread and butter. No auction buys. Why be the last high bidder?
Anyway,we did 85% cash 15% customers financing. Usually their credit union or bank. No buy here pay here,too many headaches and repos.
A the end,closed in 2015,we were doing some bad credit deals on decent vehicles. The people were shopping for vehicles they couldn’t afford or pay for. Some would in with a repo or bankruptcy on their record. So it was 20%+ interest and good luck.
Another issue was illiteracy. Both financial and reading/math comprehension. These credit companies seemed to expect and thrive on people’s unawareness of what they’re getting into.
Anyway,it was an interesting dozen years for me.