8 year auto loans??

Quote from cmdtytrdr:

hehe...who are these broke pikers that need an 8 year loan to buy a thirty thousand dollar car? sad...
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I have a securitized bunch of them right now, just over $9million available for 88 cents.
 
Quote from cmdtytrdr:

can you explain this more please...
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One of the companies I'm a partner in, Portfolio Equities, acts as an agent in transactions between banks, funds and other lenders who would like to buy/sell bunches of loans that they have. Mostly we do all day loans, but we also get some creditcard debt, boats, cars, student loans. Pretty much anything you can think of has a secondary market and a price on it. Its actually a market I dont know a ton about, Carl does most of it, Anthoney does what Carl doesnt do, and what very little Carl and Anthony dont do I pretend to do.
 
Quote from Brandonf:

One of the companies I'm a partner in, Portfolio Equities, acts as an agent in transactions between banks, funds and other lenders who would like to buy/sell bunches of loans that they have. Mostly we do all day loans, but we also get some creditcard debt, boats, cars, student loans. Pretty much anything you can think of has a secondary market and a price on it. Its actually a market I dont know a ton about, Carl does most of it, Anthoney does what Carl doesnt do, and what very little Carl and Anthony dont do I pretend to do.
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so did you mean 88 cents on the dollar to back these loans? are you getting interest too? or am i totally off. what did you mean by 88
 
Quote from cmdtytrdr:

so did you mean 88 cents on the dollar to back these loans? are you getting interest too? or am i totally off. what did you mean by 88
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They are currently selling for 88 cents on the dollar.
 
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