I worked for CRE as a DM for 2 years. They have a program where staff with poor credit can buy a car.
Its a total scam, predatory lending at best. I never got involved in it, but watched what happened to a few people who did. The cars they offer are all used, and all are priced at least $3000 - $4000 more than local market values. They offer a one size fits all 18% interest rate.
The contract is set up as a lease. They do not report anything to the credit bureaus that would actually help anyone improve their poor credit. They only report to the credit bureaus when you default on the lease by leaving their employment, voluntary or otherwise, since the only method to make payment is through payroll deduction. The only possible credit reporting anyone will ever get from them is negative.
They effectively create a captive employee for anyone who does happen to care about their credit. Worse, they use the negative reporting as a diaboloical punishment for anyone who dares quit working for them. Apparently they favor hiring financial illiterates and irresponsibles. Two managers in our office, each with over 10 years tenure, had multiple program cars.
One manager had a Lexus, a Charger, and a Caddilac SUV. She lived in three different rental houses over 18 month period, evicted from 2. Other manager had 2 pick up trucks leased, and lived in apartments with his wife paying the rent. They were both constantly in trouble because their accounts were losing money.
Losing money over the bad business deciscions they were making for their accounts that I witnessed and was forced to participate in, but which they lied about later when they got into trouble. I'm pretty sure CRE knows they were lying, but dont care because they are making too much money off selling cars to the illiterate irresponsible "managers".
Reason of review: Work Experience or Job Application.
I liked: Commute.
I didn't like: Predatory lending, Nepotism, Abject lack of qualified management, Lies from hr regarding new 2016 labor laws, Seeing drivers and office staff being abused.