Posted on 11/30/2016 10:18:58 AM PST by SeekAndFind
What will happen is they will repossess those cars, which will flood the used car market—driving down the value (and thus the trade in value) of existing used cars and the affordability of new cars.
The sub prime car loan market is just a nasty place to do business.
Yes. The banks will repo and sell these cars fast. Especially towards the end of a model year.
Mortgages and car loans aren’t that big a risk to banks since there is something of value to repossess when the loan is defaulted.
GPS and plate scanners make repo just another simple bank transaction
looks that way
Cash is King.
And Always will be.
Even when they try and dethrone it.
Everytime I go to a place like McDonalds or a convenient store, I always see every worker with smart phones. I don’t understand how they afford them. I don’t even have one, I don’t want the extra $25 added to my phone bill, and I simply do not need one.
Is there a way to stop? Do I ask somebody for permission? I was just getting to the wine cellar part of my preps and I could use the cash.
Didn’t Romney sell cars?
I swear I saw a picture.
IF they have a job to go to ..............
I think they have no land line. You can get celluar, text and limited data for $40/mo.
According to financial guide Dave Ramsey, that’s the ONLY way you should ever purchase a car! Reliable, used, and pay CASH only. NEVER finance!
“If you want a car or truck, go see Cal, if you want to save a buck, go see Cal”
Read his Wikipedia bio, he’s (was)a true WWII hero!..............
Thanks but I’d rather go to Keys, Keys, Keys, Keys on Van Nuys.
I am never buying a new car again. I will keep my “fleet” running as long as possible.
They are underpaid. Most of these new cars belong to single men you have nothing to spend their money on except alcohol and cars. They live in a dorm and basically their entire check goes to paying insurance and car payment.
Trump will get them working, this was all part of Obama’s plan, destroy the American family and get them depending on government ...
Cheap is unlikely - have you seen what they are asking for a two-year old with 40kish on it? Why would I pay 20k for that when I can get it new for 25k?
waiting for the free Obama car? LOL
Yep. Our last 3 cars have been less than 1 year old, low mileage, luxury cars. Cash. Got them for almost half off the new price. Every month I put a car payment in the bank so when the time comes we’ll have cash. My Jag is 10 years old now so have been looking around. Thinking maybe an Audi. Hubby drives a 2012 Mercedes 350 GLK. Paid cash for both of them.
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