Fed will overshoot rate increases

Casey Jones

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good time to be a repo man

'loan accomodation programs' = black hole, like so many other welfare schemes

not my bold

Actually, I don't think so.

All these Liars Loans are gonna come due and default at about the same time. There's not gonna be the market to absorb all these repo'd used cars.

So, basically, it may come down to the bank simply not willing to spend the cost to repo the cars. They may put a block of some sort on the registration process - perhaps re-issuing the title as theirs; but they won't want to spend $XXX for Sam Spade to come out and hotwire the car, likely a POS after a few years of subprime maintenance.
 

cheka

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Actually, I don't think so.

All these Liars Loans are gonna come due and default at about the same time. There's not gonna be the market to absorb all these repo'd used cars.

So, basically, it may come down to the bank simply not willing to spend the cost to repo the cars. They may put a block of some sort on the registration process - perhaps re-issuing the title as theirs; but they won't want to spend $XXX for Sam Spade to come out and hotwire the car, likely a POS after a few years of subprime maintenance.



Auto Repossessions Are on the Rise, As People Walk Away From Car Loans​

 

Casey Jones

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Auto Repossessions Are on the Rise, As People Walk Away From Car Loans​

Of course they're on the rise.

That's why, with time, banks' enthusiasm to pay repo men, may dampen a bit...with the beater market being saturated, and with not enough money coming out of repossession to make it worth the hassle.

They can always wait and then try to repossess, months later.
 

Unca Walt

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I can see a future of license plate switching "theft". Junkyards can become gold mines.
 

cheka

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I can see a future of license plate switching "theft". Junkyards can become gold mines.
big scandal was unearthed several months ago -- criminals printing paper (dealer) plates. it answered a long term question that i had -- why the majority of paper plate cars are driven by blacks in my area. esp the old piece of sh-t cars with paper plates - that was close to 100 percent

now i know
 

Casey Jones

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I can see a future of license plate switching "theft". Junkyards can become gold mines.
It gets moar interesting, here.

Montana has what are called "Permanent" plates and registration. Any car over ten years old, for an additional fee, can get Permanent registration. Never stand in line again.

Plates, permanent or not, are cancelled when the title transfer is recorded...as in a sale, to another owner, dealer or wrecking yard. BUT...if a car is just parked out back...having little value as scrap...the plates remain valid, as long as this law stays in effect.

And ten-year-old vehicles are not what they were 30 years ago. My truck looks like nearly-new; but it's sixteen years old and has those ever-registered plates on.

Soooo...what I expect, first, is a lot of dealing in illicit used PERM plates. Second, I expect Montana, now populated by California expats, to change the laws. Probably soon.
 
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