A Buy Here Pay Here Solution Alternative

Wright-Patt Credit Union discusses its auto lending program specifically for new military members.

 
 

More borrowers, desperate for a car, are turning to predatory lenders, where they qualify for loans but must agree to significantly high interest rates, according to a recent Los Angeles Times article, which spotlights lending practices at Buy Here Pay Here auto dealers. Nearly one in four buyers default on their high-interest auto loans, the article says.

Weary of predatory lending for new members on the military base, Wright-Patt Credit Union  ($2.2 B, Fairbourn, OH) offers an alternative for auto lending. Linda Stephens, vice president of consumer lending at Wright-Patt discusses the credit union's First Airmen's program in a 2010 interview with http://www.creditunions.com.

 

 

 

 

Nov. 15, 2011


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