7 million 90+ late on car loans

sarktastic

Says FED.

Hope and Change

2001400ex

sarktastic said:

Says FED.

MAGA

RaceBannon

National Emergency?

sarktastic

Fuck that, I want a cheap late model car for half price. Let the market and auctions Work!

BennyBeaver

sarktastic said:

Fuck that, I want a cheap late model car for half price. Let the market and auctions Work!

Should be much easier that buying a house out of foreclosure.

Instead of the housing bubble, this is the auto bubble. We've made billions in the expansion of this market, knowing that at some point the bubble will burst.

sarktastic

GM should have been allowed to go broke?

BennyBeaver

sarktastic said:

GM should have been allowed to go broke?

RaceBannon

BennyBeaver said:

sarktastic said:

Fuck that, I want a cheap late model car for half price. Let the market and auctions Work!

Should be much easier that buying a house out of foreclosure.

Instead of the housing bubble, this is the auto bubble. We've made billions in the expansion of this market, knowing that at some point the bubble will burst.

It used to be fairly easy to buy a house out of foreclosure. The legislature and the banks made it harder after so many foreclosed. They are still there

BennyBeaver

RaceBannon said:

BennyBeaver said:

sarktastic said:

Fuck that, I want a cheap late model car for half price. Let the market and auctions Work!

Should be much easier that buying a house out of foreclosure.

Instead of the housing bubble, this is the auto bubble. We've made billions in the expansion of this market, knowing that at some point the bubble will burst.

It used to be fairly easy to buy a house out of foreclosure. The legislature and the banks made it harder after so many foreclosed. They are still there

Ease is a relative measure. I didn't have the time/expertise to do it with real estate. Someone in that business or with disposable time, could do it with relative ease.

A car, like @sarktastic suggests, should be much easier.

RaceBannon

No it is harder now. I thought that was what you meant. You are right (save this post) you need more expertise

My personal record was 7 houses in one day at auction. Not my money though sadly. The house had been driven and photographed and the titles checked and the hedge fund underwriters had set the max bid

An industry sprung up around this by flippers and buy and hold hedge funds for rentals. It was my first job here and the best one I ever had. Paid like shit but still. Lots of pretty young girls attracted to all that money

The banks realized that other people were making all the money off their bad loans and losses and the legislature wanted to make it "fair" so it kind of gummed up and calmed down.

That's story time

PurpleThrobber

RaceBannon said:

No it is harder now. I thought that was what you meant. You are right (save this post) you need more expertise

My personal record was 7 houses in one day at auction. Not my money though sadly. The house had been driven and photographed and the titles checked and the hedge fund underwriters had set the max bid

An industry sprung up around this by flippers and buy and hold hedge funds for rentals. It was my first job here and the best one I ever had. Paid like shit but still. Lots of pretty young girls attracted to all that money

The banks realized that other people were making all the money off their bad loans and losses and the legislature wanted to make it "fair" so it kind of gummed up and calmed down.

That's story time

YKW

Banging Christina on the courthouse steps post-auction would have been special.

BennyBeaver

RaceBannon said:

No it is harder now. I thought that was what you meant. You are right (save this post) you need more expertise

My personal record was 7 houses in one day at auction. Not my money though sadly. The house had been driven and photographed and the titles checked and the hedge fund underwriters had set the max bid

An industry sprung up around this by flippers and buy and hold hedge funds for rentals. It was my first job here and the best one I ever had. Paid like shit but still. Lots of pretty young girls attracted to all that money

The banks realized that other people were making all the money off their bad loans and losses and the legislature wanted to make it "fair" so it kind of gummed up and calmed down.

That's story time

As an individual with modest funds and no extra time, I wouldn't be in the game like that.

Like I said before, story time with Granpappy Race is speshul.

LebamDawg

I worked with a guy from Florida - he had purchased a car in Florida, drove here and never made a payment on it. took about 15 months to get caught and the car got repo'd. He then went down a month later and bought the car at auction for dirt cheap. He was creative and didn't give a shit about his credit rating.

BennyBeaver

https://jalopnik.com/americas-car-loan-debt-is-out-of-control-and-getting-wo-1832635925?rev=1550248218786&utm_medium=socialflow&utm_campaign=socialflow_jalopnik_twitter&utm_source=jalopnik_twitter

BennyBeaver

LebamDawg said:

I worked with a guy from Florida - he had purchased a car in Florida, drove here and never made a payment on it. took about 15 months to get caught and the car got repo'd. He then went down a month later and bought the car at auction for dirt cheap. He was creative and didn't give a shit about his credit rating.

Was his name Dick?

sarktastic

BennyBeaver said:

https://jalopnik.com/americas-car-loan-debt-is-out-of-control-and-getting-wo-1832635925?rev=1550248218786&utm_medium=socialflow&utm_campaign=socialflow_jalopnik_twitter&utm_source=jalopnik_twitter

Fire_Marshall_Bill

LebamDawg said:

I worked with a guy from Florida - he had purchased a car in Florida, drove here and never made a payment on it. took about 15 months to get caught and the car got repo'd. He then went down a month later and bought the car at auction for dirt cheap. He was creative and didn't give a shit about his credit rating.

That's fucking awesome lol

MikeDamone

The government should do something like pay people for their old car so they can buy a new one they can’t afford. #stimulus.

MikeDamone

BennyBeaver said:

RaceBannon said:

No it is harder now. I thought that was what you meant. You are right (save this post) you need more expertise

My personal record was 7 houses in one day at auction. Not my money though sadly. The house had been driven and photographed and the titles checked and the hedge fund underwriters had set the max bid

An industry sprung up around this by flippers and buy and hold hedge funds for rentals. It was my first job here and the best one I ever had. Paid like shit but still. Lots of pretty young girls attracted to all that money

The banks realized that other people were making all the money off their bad loans and losses and the legislature wanted to make it "fair" so it kind of gummed up and calmed down.

That's story time

As an individual with modest funds and no extra time, I wouldn't be in the game like that.

Like I said before, story time with Granpappy Race is speshul.

Can’t afford to buy houses at auction?