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Yes, it is the same way you buy a home mortgage or get an auto loan. You find a bank that thinks there it can make money from interest payments or collecting t
by s1artibartfast 6mo ago
Yes, it is the same way you buy a home mortgage or get an auto loan.
You find a bank that thinks there it can make money from interest payments or collecting the asset.
it really is that simple. If self driving trucks were a good bet, banks would be happy to loan entrepreneurs money to buy them.
- ToucanLoucan 6mo agoIt’s entirely different. When I buy a car, as I’ve done a few times now, that debt is mine. I’m responsible for it. When I bought my corvette, despite the fact that I can’t drive it about four months out of every year, I’m still responsible for those payments. And if those payments were to stop: - the asset would be repossessed - the bank would wreck my credit And most importantly IMO, to really spotlight it: I am paying that loan. I took out a loan for however much, with a payment schedule to pay it back. That is completely different and much more reasonable than “I borrowed money to buy a thing and now that debt is on that thing.” And that’s before you even get into their various “fees.”
- musicale 6mo agoThat's crazy talk. The car should take on the debt, and if it can't pay it then it should declare bankruptcy and leave you unscathed.