[Mariner]

All you have to do is observe what’s parked at Walmart to know how bad this problem is.

How the lenders are making money is baffling to me.

[Freedom_Is_Not_Free]

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!

[billyboy15]

Sure they make money and tons of it to boot. Look at the numbers.

Subprime loans carry interest rates which are sky high, some in the 25% range. Subprime lenders typically require larger deposits to minimize exposure in the likelihood the loan goes bad. Yet with all that, 80% of these loans do NOT go bad and all the money they are making on them easily covers the 20% who do go bad.

This is a deceiving article and doesn’t hold up if anyone reading it is familiar with the lending business for automobiles.

[SkyPilot]

All you have to do is observe what’s parked at Walmart to know how bad this problem is. How the lenders are making money is baffling to me.

Agreed. I've seen them too.

Maybe the strategy isn't to make money, but to actually crash something.