Train left the station...
- Reaction score
- Western Montana
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.