The local indy dealers are banking on sub prime loans they originate themselves to the wetbacks. They can not get banks to cover the loans, so hold the paper themselves and have usurious rates, so everybody qualifies. Pepe Jimenez makes jacked up payments on his truck, and, if he defaults, the car is repossessed and back on the lot or to the consignment auction.
clay On Jul 27, 2014, at 7:40 PM, Rick Knoble via Mercedes wrote: > ‎Original Message > From: Curt Raymond via Mercedes > Sent: Sunday, July 27, 2014 8:59 PM > To: Allan Streib; Mercedes Discussion List > Reply To: Curt Raymond > Subject: Re: [MBZ] OT: How is this game played exactly? > >> Used truck prices are stupid right now. 4 >years old you're looking at >> $20-24k, for >$4,000 more I can buy brand new. > > I read recently that what happened with sub prime mortgages in the 2000's is > happening now with used auto loans. Sub prime loans to people who won't be > able to pay them back, driving the used car prices through the roof. > > Rick > Sent from my BlackBerry 10 smartphone. > > _______________________________________ > http://www.okiebenz.com > > To search list archives http://www.okiebenz.com/archive/ > > To Unsubscribe or change delivery options go to: > http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com > > All posts are the result of individual contributors and as such, those > individuals are responsible for the content of the post. The list owner has > no control over the content of the messages of each contributor. _______________________________________ http://www.okiebenz.com To search list archives http://www.okiebenz.com/archive/ To Unsubscribe or change delivery options go to: http://mail.okiebenz.com/mailman/listinfo/mercedes_okiebenz.com All posts are the result of individual contributors and as such, those individuals are responsible for the content of the post. The list owner has no control over the content of the messages of each contributor.
