I had no idea this insanity was going on.
http://www.latimes.com/news/printed...0,1,7932500.story?coll=la-headlines-frontpage
http://www.latimes.com/news/printed...0,1,7932500.story?coll=la-headlines-frontpage
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AUTO LOAN rollover
- Thread starter Banjo
- Start date
Quote from Banjo:
I had no idea this insanity was going on.
http://www.latimes.com/news/printed...0,1,7932500.story?coll=la-headlines-frontpage
Yeah man this happens ALL.THE.TIME.
I work in lending and I am amazed that this actually flies with lenders...especially in light of the recent mortgage events...
There's just a neverending supply of jackasses who HAVE TO HAVE that expensive car, even though they can't afford it. Keep Keepin' up with those neighbors, America.
Quote from Reaver:
Yeah man this happens ALL.THE.TIME.
I work in lending and I am amazed that this actually flies with lenders...especially in light of the recent mortgage events...
You would think they had more brains.. I guess the bottom line is having your name on the board as salesman of the month??
or maybe they just didn't give a shit cuz these damn loans would get packaged (rated and insured too?),,, and sold to some dumb ass investors..
This is the ultimate in greed and ignorance.
the truth
In the real world, affluent working Americans no longer drive American made cars. American made cars, by and large, are sold to the economic underclass who can't get financed for the higher quality Japanese and other foreign cars. But GM/F/DCX is more than happy to move the metal to those who cannot get financing elsewhere. -daryll40
Quote from nkhoi:
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In the real world, affluent working Americans no longer drive American made cars. American made cars, by and large, are sold to the economic underclass who can't get financed for the higher quality Japanese and other foreign cars. But GM/F/DCX is more than happy to move the metal to those who cannot get financing elsewhere. -daryll40
not true. if you are in the "underclass" and don't qualify for a loan on a $20k nissan, do you think you can get a loan for a $20k chevy? no you can't. the ford f-350 mentioned in the article has no foreign competition, that couple couldn't have bought a toyota in that size even if they wanted to.
besides, i'm sure you know that many "foreign" models are actually american-made right? toyota, honda, mercedes have factories in the usa.