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Stressed Out Drivers


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2022 Jul 27, 9:59am   406 views  9 comments

by Misc   ➕follow (1)   💰tip ($0.10 in tips)  

Now that the free money from the government has run out...

people just can't make their auto payments...

the worst offenders...those in DC.

About 1 outta 4 didn't make last month's car payment.

https://www.keloland.com/news/your-money-matters/d-c-southern-states-see-highest-rate-of-late-auto-payments/

Comments 1 - 9 of 9   

1   zzyzzx   2022 Jul 27, 10:02am  

Misc says

the worst offenders...those in DC.


Notice that the worse offender rates by state correspond to the 13%
2   Patrick   2022 Jul 27, 10:35am  

I worked at Wells Fargo for a year as a contractor, and remember that they had big legal problems because objectively evaluating the probability of loan repayment without regard to race ended up with black people getting fewer loans than any other group.

Wells was accused of being "racist" and they were told to lower their lending standards for black people, because of the "disparate impact" of being objective.
3   Al_Sharpton_for_President   2022 Jul 27, 12:39pm  

Misc says

About 1 outta 4 didn't make last month's car payment.

On time payments is a racist concept.
4   Ceffer   2022 Jul 27, 2:24pm  

You mean you have to keep making payments past the first one?
5   RC2006   2022 Jul 27, 3:17pm  

Good credit report is a sign of white privilege.
6   clambo   2022 Jul 27, 3:29pm  

"I know what you are; you're all repo men!" Otto.

I remember the ad for some credit repair service:
Black man: "My credit card debt was OUT Rageous!"
I always laughed, like it was something that"happened" to him, not his fault at all.

"Money talks, bullshit walks."

I would not lend a dime to someone who doesn't look like I do, even then probably not either.
It's fuck or walk pal.
7   GNL   2022 Jul 27, 3:57pm  

Al_Sharpton_for_President says

Misc says


About 1 outta 4 didn't make last month's car payment.

On time payments is a racist concept.

Creeping socialism.
8   Misc   2022 Jul 27, 4:08pm  

About 16% of auto loans are sub-prime. There's about $1.3 trillion in outstanding auto loans. So roughly $200 billion in sub-prime loans. The major banks don't make sub-prime loans directly, but they do loan to the companies that make the loans to the "owners".

Suddenly, the people making loans @ 29% interest don't look that smart. They were just funneling money to people running their own personal ponzi schemes.
9   Misc   2022 Sep 21, 3:13pm  

It's not as bad as I feared. Only about 5400 repos per day. About average for the industry.

https://www.driverra.com/car-repossession-statistics/

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