John Oliver Reveals How "Buy Here, Pay Here" Car Dealers Will Ruin Your Life

But this time, we have a piece about auto lending and the shady practices of some dealerships. What's happening right now in the sub-prime car business is bordering on criminal. It might not affect the US economy the same way as the housing bubble from last decade did, but it's inhuman.

You've heard the saying "as the rich are getting richer, the poor are getting poorer"? Well, this is a situation where that is happening. For people struggling to make end's meat, having a vehicle can make a life-or-death difference. Everything from commuting to work to taking care of basic human needs relies on it.

Buy what do you do when you don't have "cash money" and you still need a ride? You accept paying over $13,000 for an old car that's worth $3,000.

Subprime buyers appear guilty in the world for sending us on a multi-year emotional and financial rollercoaster. Yet it's only fair that you default on such horrible deals.

The core of the Last Week Tonight episode is the story of a Kia Optima tracked by the Los Angeles Times. It was sold and bought eight times in three years, often and twice or three times its actual value. John's editors tracked it down and found it had changed hands two more times before being stolen.

Part of the problem is negligence from the authorities, who should stop the deliberate targeting of people who have bad credit, have defaulted on their mortgage or are bankrupt. Of course, the underprivileged need transportation more than anybody, but not under these conditions.

Sub-prime lending was actually a small problem during the old crisis. As people defaulted, properties lost value, and it snowballed. This one could be the same. Remember, car sales are at record high levels right now. Care to guess who much of that comes from borrowed money?