Posted on 11/30/2016 10:18:58 AM PST by SeekAndFind
Democrats I bet ...
So I should be able to pick up a cheap, nearly new car in the coming months if I pay cash?
I feel like such a sucker...
I’ve thought for years that there are a lot of people rolling around in new cars that really couldn’t afford them. I’ve often wondered if there aren’t “Obama cars” to go with the “Obama phones.”
Okay. So doesn’t that equal a coming tidal wave of Repossessions? One would presume that much.
Repo-Men are not known for their compassion or willingness to negotiate.
Car loan defaults are an early indicator of economy downturn or massive crash coming soon.
Time to get my car repo license and a tow truck!
Sounds like it.
Hey, why should they pay? Those greedy bastards at the automobile companies have enough money. Why shouldn’t these deadbeats have the right to a nice car just like some rich jerk who earned his money and paid for his car?
Do the subprime auto lenders think that they will magically avoid the same pitfalls that sunk the subprime housing lenders?
Yep, people will default on utilities and rent before they default on car loans, since most people need those cars to get to work if they want any hope of paying their other bills.
Back around 2004, I stood within a military office and noted that some E4 I worked with...who was preparing to buy a $45,000 car. I asked about the down-payment....he and his wife worked...and they were putting down $10,000. This was to be a four-year loan ($775 roughly for each month). The thing that bothered me....the two had another loan for another upscale car (paying around $500 a month on it). It’s a heck of a lot of debt and you can’t afford to have any emergency occur.
I’m going to guess that the EEOC might have been leaning on lenders who had inadequate diversity in their lending portfolio.
GOOD CREDIT? BAD CREDIT? NO CREDIT!...WE CAN PUT YOU IN A SET OF WHEELS!
“I’m going to guess that the EEOC might have been leaning on lenders who had inadequate diversity in their lending portfolio.”
You nailed it.
.
AND TO THINK I JUST PAID OFF MY CAR!...............
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