Earlier this month, Experian (a credit reporting service) quietly announced that Chrysler-Fiat was leading the US auto industry in subprime lending - also known as loaning money to people with bad credit.
What's worse, the cars that Chrysler-Fiat is selling to people with bad credit are some of the industry's worst. Both JD Power and Consumer Reports have blasted Chrysler-Fiat products for poor reliability, and KBB.com rates many of Chrysler's products as some of the most expensive cars to own in their class.
According to Experian, 39% of Dodge Avenger sales, for example, have gone to people with subprime credit. The Dodge Avenger, not coincidentally, has one of the lowest ratings in Consumer Reports most recent evaluation.
The bottom line - Chrysler-Fiat is dumping inferior product off on people with bad credit, and that's not fair. The last thing a person with bad credit needs is an unreliable car with the highest cost of ownership in it's class.
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