Banks may be reluctant to repo vehicles as underwater as many purchased during the “plague” are.
“Banks may be reluctant to repo vehicles as underwater as many purchased during the “plague” are.”
The banks should have balked on writing notes on vehicles with dealer mark ups over msrp. That would have stopped this in the bud.
I have no sympathy for the banks. They can repossess and get by 50% of their investment, Or, they refinance out to 15 years at a lower interest rate to reduce payments. Or, they can write it off and let the driver have the vehicle.
I do not think the last option is very likely