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Plenty of European countries don't have credit scores. A car loan is collateralized so I don't really see what's complicated.
by hocuspocus 5y ago
Plenty of European countries don't have credit scores.
A car loan is collateralized so I don't really see what's complicated.
- MaxHoppersGhost 5y agoThe cost of repossessing a car isn’t zero, and even finding the car can be hard. What if the car is trashed when you repossess it? Say they wrecked it and don’t have insurance? This isn’t an uncommon scenario.
- hocuspocus 5y agoNo insurance = no registration = no plates. That's a pretty serious offense and it's extremely uncommon over here. Sure, repossession can be costly but debt collection agencies will make your life hell very quickly, it's not something you can drag for years without big consequences.