4 ms·
My roommate stopped making payments on his car 6 month back, its underwater. The financing company doesn't want to repossess, he now has his car with zero payme
by thelastgallon 1y ago
My roommate stopped making payments on his car 6 month back, its underwater. The financing company doesn't want to repossess, he now has his car with zero payments. Eventually, the companies have to start repossessing all these ridiculously high priced cars and sell them at lower rates. There will be a flood unless someone wants to keep these non performing assets on their books.
- toomuchtodo 1y agoThe repossessions will happen over time eventually as repo throughput permits, and borrowers will still be on the hook for the debt unfortunately. There will be no flood. My condolences for your roommate's situation.