Viewing a single comment thread. View all comments

dumb_brick t1_je8eepo wrote

By "loosening credit requirements" you mean I could finally afford my Lambo at only 29% APY with no job and 560 credit score?

84

Harvick4tw t1_je8kcyl wrote

Bet, and if the loan goes past due, just let a Nissan rear end you

34

mikecrypto8 t1_je8kebt wrote

560, Look at you knocking those bills out. Your making the rest of us look bad.

7

Outis7379 t1_je8ku4i wrote

Why get only one?

2

dumb_brick t1_je8ltzc wrote

Will have to look for a second Lambo dealership to approve the loan and that's not real in my area, because even the first one is 7 hours away.

PS, can't wait to be back to California, this shit hole is stinky.

1

sudden_aggression t1_jeax6gs wrote

Pretty much the entire automotive market these days is built around the assumption that the car will end up being repoed long before the loan is paid off. They're basically just charging rent on cars and calling it a secured debt.

That's why cars have gotten so ludicrously expensive and terms of gotten so long- everyone is just choosing a rent payment and deluding themselves that they will hold out for the next 7 years and own it someday for the price of a house.

And of course they're not thinking far enough ahead to realize that unlike a lease, they will pay for all the depreciation as well when the repoed car is auctioned off.

1