Are you kiddin' me? When did this happen?
Posted on 07/20/2014 7:19:57 PM PDT by 2ndDivisionVet
“That’s how I feel-—the sob stories about those who were “tricked” into buying houses they couldn’t afford also bothered me.”
They are like the ones that didn’t know cigarettes could kill them.
If you live in Florida, you may have known him. Women loved his “great hair”.
My wife recently spent a week in Florida cleaning up the mess he left behind. If he’d had an RV, it would have had a bumper sticker saying “I’m spending my kids’ inheritance”. I think he scheduled his death for the week he completely ran out of money.
and these are the same people who if the bank didn’t give them a loan would claim they were being redlined, or unfairly discriminated against.
commie libtards make it so the bank can’t win. don’t make the loan you’re racist. make the loan and you’ve trapped the poor shmuck b/c you’re racist / hate poor folks. commie mantra is banks always wrong, person always victim.
and if you read my posts i am not a friend of big banks and bailouts / bailins for them with their assinine derivatives schemes.
Are you kiddin' me? When did this happen?
Agreed. I have a 94 Nissan Sentra that just last week, I replaced the alternator. It’s got 220K+ on it.
Gets 26 miles/gallon even for the short trips I almost always drive it on. Between 33-36 on the road.
Taxpayer-backed student loans are the real crisis...
I thought these were only loans that could not be defaulted.
The way I described situation- was that loanee just became economic slave to the govt.
“I’ve noticed that. Piece of junk old cars for $4-8,000 with $995 down payments or thereabouts. That explains it.”
This is partially due to Cash for Clunkers. It is also impacted by inflation. I have a subscription to Hemmings where the US advertises its old cars. A ‘64 SS that five years ago went for around $5k or maybe $10k if it was special in some way is now $35k. These aren’t even drivers. These are collector cars. But a ‘55 Dodge 4 door that never exceeded $5k for three decades is also in the mid $30’s. I’m not sure it’s the same phenomenon as used car prices or if formerly sub-value special interest cars has been caught up in the used car bubble hype.
A new car by comparison is a great value in comparison at the same $30-35k.
I am not sure if they consider something prior to seven years ago but I can tell you they will certainly look at people who have multiple 7’s on their files. A comprehensive history is what I always looked at. Somebody who had a bankruptcy but paid all their car loans and neglected medical bills and credit cards were people who were most likely to pay. People who put cash down were more likely to pay. People who traded in an old rats nest of a car were much less likely to pay as they had no skin in the game. You can look at a persons credit history and make a pretty good determination of their credit worthiness and ability to pay. Sadly, computers take over so much of todays decision making.
I recently bought a 11 year Honda Accord (runs like new) with 154,000 miles on it. The price was higher then I thought it should be. I searched and searched but the used car prices are too high (both dealers and private). The dealer said because of my history I was offered a higher interest rate. I put $2,500 down and got a 36 month loan.
My history they referred to is that the last time I bought a car was 1999!! They want someone to basically turn over a new car every few years. Why that would be renting a car.
My credit history was 774 at experian. I figured a low interest rate but it is too high. I will see if I can refinance with another credit union.
The premise of the article is that he's some kind of victim, and that is certainly not the case here.
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