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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026

The lender then repos your car, zeroing out your equity, and sells it to another victim: www.youtube.com/watch?v=4U2e... But the subprime car industry adds a modern spin to the contract lending scam that has been used to profitably rob so many Black home borrowers and long-haul truckers. 30/

youtube.com

Auto Lending: Last Week Tonight with John Oliver (HBO)

YouTube video by LastWeekTonight

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026

Subprime lending's risk-reduction relies on repossession. A subprime car lender doesn't just get rich by charging poor borrowers more money that rich borrowers for shittier, older cars. 31/

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By Cory Doctorow (GPG 0xBF3D9110957E5F4C) @doctorow.pluralistic.net · 25/07/2026

Subprime car dealers *repeatedly* "sell" that car to many, many poor people, on conditions that all but guarantee that the borrower will default on their loan and lose their car. This is where tech comes in. Ubiquitous digital networks and computing make it *much* easier to repo a car. 32/

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