There are about eight to 16 million people with low and moderate incomes and poor credit who earn below $40,000 a year who are subjected to the sub prime lending market. The Federal Reserve reports that those earning $30,000 or less per year, such as Jesus, paid an annual interest rate that was percent higher than people earning $90,000 a year . In addition, most buy here/pay here lots do not report payment history to the credit reporting agencies, which prevents consumers from strength- ening their credit history through steady repayment of their car loan. .
