Everyone in California Basically Sharing the Same Used Car

Selling used cars is a pretty good business: you buy crappy old cars at rock-bottom prices from desperate people; sell these crappy cars to desperate people at inflated prices; repo the cars when the desperate people run out of money; and then sell the same cars all over again.

The LA Times did a little investigatin' and found that many used car dealers just sell-repo-sell over and over again, until any Californian in the lower income brackets is able to walk by any used car lot in the state and immediately spot at least one car they've owned before.

From mid-2008 to this April, 862 licensed used-car dealers - about 1 in 8 statewide - sold at least one vehicle three or more times, The Times has found.

Some did it more frequently than that, according to a Times review of 2.2 million Department of Motor Vehicles sales transaction records. One dealership, Repossess Auto in Hawthorne, sold more than 750 cars at least two times over the last four years.

Chuck, dude, awesome Taurus. I swear, I had one just like that. Wait.

[LAT. Photo: AP]