Small dealer here. These operations are why used cars are so expensive right now. The reps from these big money buy-here-pay-here dealers show up to the auction and bid up all the late model cars to retail levels. Reason being they are literally able to sell it for 2x fair retail.
America is a car loving country. Gotta have the newest, coolest chock full of electronic goodness! Then it fails a month later. I'll stick to my 2004, 'ol reliable.
I remember Paul Harvey back in the 90's saying on his show, "A used Honda vs a new BMW at age 25 is approximately $500,000 at retirement age" I lived by that and now I'm retired and living quite well. Way too many folks living beyond their means just to try to impress. Sad but true.
I recall a Cheech and Chong skit from the 70's. Something on late night TV about a used car dealer ad. "Only fifty dollars down..fifty dollars a month...for fifty years! Looks as if we are approaching that .
I seen a buy here pay here dealership in Arizona selling a 2003 Dodge Durango with 72,000 miles for almost $11,000. It is a big-time problem here in the car market.