s0me0nesmind1
Lifer
- Nov 8, 2012
- 20,828
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How cool is that...
The auto loan business is a big bubble, imo. The price of cars and the length of loans is crazy. Had a 19y.o. apply for a loan. He was working as a temp and someone made him a loan on a new jeep for $750/mo. He hadn't even made his 1st payment yet. That one's going back.
It's the housing bubble all over again. People getting loans for things that they shouldn't have been eligible for in the first place.
The difference is that it's legally and physically easier to repo a car than to kick people out of a house.... So I'm not sure if it's going to have the same results - but still.
And for the love of fuck I'm trying to be a used SUV and these fucking Toyota RAV4s are holding their value. I see used ones for $22k - yet I can buy a new one for $25k. wtf mate?