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Welcome to the Hardcore Husky Forums. Folks who are well-known in Cyberland and not that dumb.

7 million 90+ late on car loans

sarktasticsarktastic Member Posts: 9,208
in Tug Tavern
Says FED.

Hope and Change
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  • 2001400ex2001400ex Member Posts: 29,457
    sarktastic said:

    Says FED.

    MAGA

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  • RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 104,457 Founders Club
    National Emergency?
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  • sarktasticsarktastic Member Posts: 9,208
    Fuck that, I want a cheap late model car for half price. Let the market and auctions Work!
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  • BennyBeaverBennyBeaver Member Posts: 13,346
    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.
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  • sarktasticsarktastic Member Posts: 9,208
    GM should have been allowed to go broke?
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  • BennyBeaverBennyBeaver Member Posts: 13,346
    sarktastic said:

    GM should have been allowed to go broke?


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  • RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 104,457 Founders Club
    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
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  • BennyBeaverBennyBeaver Member Posts: 13,346
    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.
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  • RaceBannonRaceBannon Member, Swaye's Wigwam Posts: 104,457 Founders Club
    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
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  • PurpleThrobberPurpleThrobber Member Posts: 43,526 Standard Supporter
    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.

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  • BennyBeaverBennyBeaver Member Posts: 13,346
    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.
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  • LebamDawgLebamDawg Member Posts: 8,664 Standard Supporter
    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.
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  • BennyBeaverBennyBeaver Member Posts: 13,346
    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
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  • BennyBeaverBennyBeaver Member Posts: 13,346
    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?
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  • sarktasticsarktastic Member Posts: 9,208
    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

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  • Fire_Marshall_BillFire_Marshall_Bill Member, Swaye's Wigwam Posts: 23,516 Founders Club
    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
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  • MikeDamoneMikeDamone Member Posts: 37,781
    The government should do something like pay people for their old car so they can buy a new one they can’t afford. #stimulus.
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  • MikeDamoneMikeDamone Member Posts: 37,781
    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?
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