[asterix]

The fact is, sub-prime market is where banks make most of their money, not the prime market. These loans have ridiculous fees ($2000 in fee for $3000 car) in addition to high interest rates to bypass state usury laws. Banks don't really care, they get these fees and sell the loans to investors.

I am hoping to make some change in this market. I am working on a start up that would help those with limited credit, like Gen Y, get car loans at better than bank rates. More when I have a decent beta page ready, which should be soon :-) But would be interested to learn if those just starting their careers (18-24 yrs) are facing problem getting car loans at reasonable interest rates.