hegemony Posted June 20 Share Posted June 20 More Americans Are Getting Auto Loans That Exceed the Worth of Their Cars Quote Link to comment Share on other sites More sharing options...
Admin MarvBear Posted June 20 Admin Share Posted June 20 Consumers have been doing that for decades. Wonder why that makes the news now. Quote Link to comment Share on other sites More sharing options...
centex Posted June 21 Share Posted June 21 11 hours ago, MarvBear said: Consumers have been doing that for decades. Wonder why that makes the news now. Its all about creating a victim class. That drives the clicks which is where the sites generate their income, facts be damned. TheVig, MarvBear, IndyPoolPlayer and 1 other 4 Quote Link to comment Share on other sites More sharing options...
hdporter Posted June 22 Share Posted June 22 I'm taking the article at face value .... and the suggestion is that these loans typically will still be under water even after 2 years of payments. That's a lot of added risk for banks to be taking on. Yeah, it's been a trend for some time to roll in some after market work and things like extended warranties into financing. But I can't fathom how a stat of average lending at 125% of value has come into play. It's simply unfathomable in my mind. Fool me, for putting 10% down on a 1.9% APR mfr financing. The biggest mystery for me is why lenders are complicit in such bogus financing. Quote Link to comment Share on other sites More sharing options...
centex Posted June 23 Share Posted June 23 What is sad is how many people miss the reality that even small amounts like $50-100 additional per payment can shorten the time they are underwater. butterflywings, TheVig and MarvBear 1 2 Quote Link to comment Share on other sites More sharing options...
IndyPoolPlayer Posted July 31 Share Posted July 31 On 6/21/2023 at 10:14 PM, hdporter said: The biggest mystery for me is why lenders are complicit in such bogus financing. If you're referring to captives, I think you can answer your own question. Captives move the metal for the manufacturer. Third party lenders - well keeping up with the captives. Granted what I read on CDG there's lenders almost weekly bailing out of purchaser financing market or floor financing market or both. MarvBear 1 Quote Link to comment Share on other sites More sharing options...
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