/biz/ - Business & Finance

>>50342162
Reminds me of the used car sales guy from /o, the loans he'd write were just atrocious and yet normies still signed off on them.

>>50342162
How do I long repomen?

>>50342162
No idea but I'm just gonna ride out my shitty 2006 korean car until it all crashes and then get something nice when dealers are begging for our money again.

>>50342162
You say that but there's a total lack of cars do to raw material shortage because of Russia. People need cars and if you repo it the dealership can easily find someone else to buy it.

>>50342162
lmao people arent going to get margin called on their shitty auto loan. This is nothing like the housing bubble collapse where the economy was propped up by a uber leveraged housing bubble.

>>50342162
Can I find a mint picrel for under 6k after this so called crash? Has to be an M edition with low miles.

>>50342576
People don't get margin called on housing either. That's why it's the infinite money glitch META

>>50342569
>wanting to buy a nogged car

>>50342639
Hey I brought a car brand new these normies are retarted for buying shitbox for 10k.

>>50342621
The average 7500 dollar car is selling for 11000 or so. The dealers are buying the vehicles for more than they are worth even at auction. If you know anything about LTVs subprimes are usually super high on LTV because there is a large fee charged to the dealership. These dealers will own that same 7500 dollar car for 10000 dollars and sell it at 11000, then a warranty and other crap is how they actually make money.

You should see how many nogs without 2 dimes to rub together and a fake job on their credit app get put into cars they cant afford. Also methy white people and beaners who literally cannot go a day without drunk driving or get insurance.

>>50342162
How can a Neet buy a car with no income? If I show my crypto is that enough for them to give me a loan?

>>50342569
Do you have any clue on how much money we lose on repos? They will literally give 10 months of extensions with 18 payments or so.

Most auto lenders don't even require valid drivers licenses from the customers since Ally got sued a couple years back since it's "racist".


The people getting into cars are literally people that have never paid anything off successfully in their life. If you saw these motherfuckers reports and financial situation you'd think it's hilarious that they are even approved.

>>50343078
Crypto wont work. Just go to one of the shitter lots that look sketchy. They will forge a paystub and DL for you if you dont have one. You'll have to pretend to make like 2000 a month and have a decent down payment.

>>50343078
If you have a big enough down payment some lenders dont stipulate for proof of income or residence anyways.

>>50342569
Also go look at a car lot right now. You will notice all the cars parked sideways and tons of empty space. The cars are parked sideways to give the illusion of there being cars. A big fucking dealer I know had 5 cars new and used on their lot one day in march.

>>50342162
>people don't own their cars
kek, fucking idiots

>>50343181
Dude ever dealership I see around and there's a lot around me have a total lack of cars and the ones that they do have are used SUV's that nobody wants. I live in SC I'm not sure where your from but here there marking shit up crazy and not giving a fuck. The car I brought was a sports car and it was marked up to but not as much as other dealerships only by about 10% other dealership were marking it up 20-30%. It still is a sellers market here and its gonna remain like that for a few years once all these small mineral companies start filling the void Russia left.

>>50343098
Even at a loss cars are so market up there still bound to make some money and even then they at least keep the down payment if there is one. The biggest looser is the buyer he'll have a shitter credit score then ever.

>>50342162

>>50343419
Yeah it is a sellers market. But nigerius johnson just got 4 months of extensions at a 27% interest rate in the first 6 months of payments. So what is he going to do when he realizes is 24000 dollar loan is 28000 and his car is worth 17000 now that the car prices went down.
Whoever is buying the securitzations (probably the retard managing your aggressive 401k) is going to get fucked.

I talk to people in the know every day. They are all saying the same thing. Car prices will drop like a fucking anchor and the defaults will come immediately.

I have a 2016 car I bought new and got it paid off. It has 50k miles, which is pretty low for its age. I don't like it and want to trade for something else, but I don't know how to do it without getting screwed and paying more for something with higher mileage. I mean, I'm thinking they probably offer me 5k and a used car is going to be 7500 - 10k and mine is in better condition.

>>50343719
What kind of shitbox is 2016 with 50k miles and is only 5 grand? Dealers are selling 2018 jettas with 50 thousand miles on them for 20 grand lol. If you only have 7500 to 10k just drive your car into the ground. I bought a new car in march. The dealership doesn't do markups but I had to buy the gay front end add warranty or they wouldn't let me buy. I made them discount it anyways.

>>50343616
isnt selling bad finance, repo, rinse and repeat an actual business model?

>>50343616
Its your words over mine and its probably different where you live but there there's an economic boom and when there's a boom happening there's more money flying around which means people wanna buy buy buy. I doubt its gonna go down because like I said there's an insane material storage caused by Russia. And nigerius johnson represents about 2.5% of the overall population so of course there's gonna be 1 dealership loosing once in a while sometimes its business that's all.

>>50343862
>only 5 grand?
Maybe I'm underestimating the trade in-vale. Blue book estimate is 10k for one in "excellent" condition.
>If you only have 7500 to 10k
I meant that what I would guess the price of a similar used one with higher mileage to be before trade-in.
>just drive your car into the ground
I hate it.

>>50342621
i bought an M edition with 80k miles for 6,500 in 2021, shouldnt be unfeasible to find one even today desu

>>50343078
they only care for down payment and credit score

>>50343078
buy from a private party you idiot

>>50342498
Good plan , I'm pretty much doing the same.

>>50343899
for the buy here pay here lots. finance companies usually dont recover it unless daquarius can pay off half his loan. they also dump thousands into tracking them down.

>>50343181
is there more car inventory now?

>>50348482
Yes. Not a TON of cars, but there is some now as to where the dealership doesnt look like it's out of business.

>>50342482
class b CDL with airbrakes.

>>50344057
You should buy new and sell private. Selling it on your own will take longer buy you can probably get 10-12k for it that way. What's the car, it's not an automic ford focus is it? then it's worth like 6k lol

>>50342162
>The nogs we sell cars to have no provable income, tons of straw purchases, lots of shit slides and I let it

So business as usual in the BHPH world? I work at a franchised Toyota dealer in Canada and we are seeing more and more people just pile on loans for new cars once they see the price of used. Too bad about the wait though. 7.49% lease rates now.

The car market has always been a little ripe for fuckery here though, 84 - 96 months is pretty much the normal for loans, especially domestics. Rates are going up tremendously too, up to near 8% for a used car on good credit. Problem is that cars are the first thing people cut when looking at a financial tightening. So yes, I think your assumption of rising rates and subprime auto loans getting literally margin called and lowering the market is partially right.

The one issue is the lack of new cars, it's going to keep the price of used relatively high until this comes back down...18 months for a fucking new van or 12 months for a RAV-4 is keeping people in them.

>>50348566
if the supply is still short, why would the prices fall?
won't they fall when supply picks up?

>>50348482
Not new really, only CDJR has cars and those are either base model shitboxes or $60k trucks with no leather etc.

Maserati and Alfa seem to still have cars though!

On a side note, we just approved at loan for a 2020 RAV-4 LTD, came to $97k after everything was said and done. Don't roll neggy-eggy kids.

>>50348734
Hah dude you think I only deal with buy here pay here? I wont say the average interest rate for subprime but it's at least triple that unless it's new. then it's the maximum % depending on that sate. But yeah there aren't a lot of new toyotas or mazdas ive noticed.

>>50342162
A crash in auto prices will not crash the economy for the simple reason unlike housing people don't expect cars to hold their value indefinitely.

>>50342498
me too. This is my carlet copium. My kia has been reliable enough so far.

>>50342621
Just skip the hassle and go directly to a gay bar anon.

>>50342162
>Niggers buying Chrysler 300s and Altimas is going to crash the economy this time instead of subprime mortgages
What a time to be alive.

>>50343054
Insurance should be optional if you have assets capable of covering state minimum coverages.
Insurance is literally training wheels that harms the people who need money more than the people who don't.
Insurance also has all of the aspects of a pyramid scheme, except the top of the pyramid are usually irresponsible people who don't take care of their things and the responsible people are the patsies.

>>50351548
You can make it survive i just hope to god you have engine warranty
Next time buy japanese for a bulletproof commuter

Hey I bought a sweet 2021 Rav4 TRd the month before shit went crazy, I was able to get 10% off msrp out the door.
Question is, should I sell it now? I owe 25k on it and I think I could sell it now for around 40-45k because shit is crazy.
Should I? or just keep it?

>>50354289
Sell it retard. Own your shit.

>>50354360
My loan terms are pretty good though,
only 2.2% The thing is what could I buy? Everything is crazy

>>50354289
>>50354478
if that is your hood then sell it

>>50343078
>income
Just buy it with the money you have now. Don't dca your income to (((banks))).

back when market was stable i though of making enough from my NFT collection once i mint and finally getting a vehicle that i entirely own and now i can barely afford gas kek
not really tho passive income from Artlink has been great i mean those NFT assets did come in handy despite the bearish market

>>50354478
>rav 4
Ok Karen

>>50354289
when you're asking 'should I sell x because retards currently paying crazy prices for x?' - you should have already sold it. Beyond lies only regret.

>>50354650
>>50354861
I thought there were only frens here :(

>>50355006
I like your car fren :)

Can we profit from this?

Pic related https://research.tdameritrade.com/grid/public/research/stocks/news/article?symbol=CRMT&docKey=100-115u9515-1

Short CRMT?

>>50342162
So when am I getting a cheap car fuckers

>>50342621
NA (1st revision) Miatas aren't that good. You'll have to spend a lot of money beefing up the front end, at minimum. Normally the only thing bracing the front is the (plastic) radiator itself.

based. i'd like my first car at steep discount. thank you

>>50354478
I don't understand how any man with normal T levels can drive this.

>>50343933
> economic boom happening
Nigger Google and fucking Microsoft have put in hiring freezes

The richest companies in the world don’t layoff people in economic booms

>>50354965
Based, this is just the crypto portfolio screenshot sell signal but for a car

>>50342162
Wait doesn't Wall Street do CDOs and Swaps based on this loans?

>>50355515
Why does OP imply that more supply being created is going to create a price increase? Do the Jews think we don’t know basic economics?
Does it mean everyone who is getting repod will just buy up all cheap used cars ?

>>50351548
The kias prey on the nogs

>>50342162
Why did you not choose to be a prime auto guy?

>>50354289
lmao nice TuRD bro

>>50352077
Insurance doesn't cover you not paying your bills lol

>>50355286
I love you

>>50354289
>I could sell it now for around 40-45k
lol no way. Maybe $30k, but it would take a while

>>50355833
Because the prime shit is basically automatic. Subprime has jobs.