Low-income car buyers often end up paying more—as much as two to three times more—for the exact same vehicle than buyers in more favorable financial situations who have a stable job and healthy credit. Cash or credit, it doesn’t matter. This is a brutal reality that used-car dealers see every day.
The reason has less to do with the specific cars involved and far more to do with all the unpredictable events that can happen in between. One example in this author’s recent past...