Posted on 11/14/2019 2:09:46 PM PST by LesbianThespianGymnasticMidget
I would guess a lot....can they even ask for ID or citizenship status?
These poor lenders need your help. They are doing business out of their cars, not out of multi billion dollar buildings.
Christmas is coming and some of them are grandmas and they just want to be able to buy their kids Christmas.
Submit your bailout dollars here.
In fact the high prices of new vehicles are linked with the fact that most finance it. Nobody cares how much does it cost. Everybody is interested how much to pay each month. Here we have a 50k pickup truck as a result. It is not inflation. In Asia they still have nice 20k trucks and 18k cars too.
I bought a brand new Honda Fit for $15K cash a couple of years ago, a good deal for a brand new reliable car. I can afford to buy more expensive vehicles but I just don’t. Other (bigger) cars and trucks can be bought used with cash, but Cash for Clunkers made those deals less so of course. . .
Not to be confused with the Fed's "not QE" repo. :)
You’re right about the payments. The monthly payment. That’s all that matters to these yahoos.
They don’t care that the average loan has gone from 4 and five years. To 6 and seven years.
“In Asia they still have nice 20k trucks and 18k cars too.”
Tata Motors. In India. Actually they mass produce millions of cars all over the world.
They could import a Tata Nano here in the US for sale at less than $5,000.00
https://en.m.wikipedia.org/wiki/Tata_Nano
This car is every bit as good and safe as your typical econobox sold here in the 80’s. But would the US allow them to be sold?
Hell No.
Way to see the opportunity in this!
OTOH, I wonder when Bernie and Warren will start talking about everyone has a right to a decent car and that no one should have to have DEBT in order to have a nice car.....
Gonna be lots of cheap, slightly used cars soon. I don’t trust the owners so I won’t buy one, but college kids and poor folks are going to have a bonanza.
It is a ponzi scheme. They make money until it all blows up in their face.
Oh, the real profit comes when the Fed Gov gives them their taxpayer bailout. Then it is gravy time. Par-tay!
The fallout from Cash for Clunkers is still being felt.
Of all the FUBAR moves that Obama made - that was one of the worst.
I doubt they can ask...
This is just my observation but from time to time when people come through here loaded to the brim with household stuff- going TO Mexico, they always seem to have really nice new pickup and often wife is following in new car. I have talked to some of these people, they are moving back to Mexico and I have wondered once they cross the border is it even possible to repo vehicles from there if they don’t make payments?
Just my curiosity.
Tata is too low-end. Mitsubishi Triton aka L200 is near as good as any regular truck. They also have “super-select” transmission making the truck so much better than most of the rest if you need to drive in different demanding conditions. Starts just north of 20k in Asia and Europe.
My old man would pick up a car for 100-200 bucks, tinker with it if it needed tinkering and do just fine. When the car died, it was no big deal to replace it. No bankers needed. Simpler times.
Hmmm, could use a new work truck. I wonder if the price of used stuff will come down?
Based on YouTube videos of reposessions, nearly all.
Trump’s fault.
Cars are ridiculously expensive. And due to that people are getting 7 year loans. So 500.00 for 7 years of not more. Then you have people not making a decent wage and you have a disaster happening. I about blew a gasket when I paid 20K for my 2011 car. I hadn’t bought a new car in 14 years prior. My next car will be in 2025 or so. I hear the car companies are charging 40 grand for a car. Ridiculous!
Chinese Cars are the future. Shoot, they are the NOW!
https://en.wikipedia.org/wiki/Automotive_industry_in_China
“Since 2009, annual production of automobiles in China exceeds that of the European Union or that of the United States and Japan combined.”
Trade Wars and Protectionism are but a few reasons why the US cannot buy quality cars are half the cost. But maybe things will change.
Those $85K F-150’s must have something to do with it.
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