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Old 04-01-2018, 07:40 AM
 
4,718 posts, read 2,251,841 times
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Quote:
Originally Posted by Yuptag View Post
Read Zerohedge, they have been claiming that the autobubble will implode any day now . . . for the last several years.
Or maybe when someone says something will happen any day now for many years they are just wrong.
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Old 04-01-2018, 09:28 AM
 
10,696 posts, read 20,114,276 times
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Quote:
Originally Posted by GeoffD View Post
It depends on the mileage and how you're buying it. A base model XC90 with 75k miles might get $13k as a trade. You'd have a tough time buying one at that price unless it has a lot more miles on it. On a lot, they'd want $18k.
70k miles 2013 Premiere Plus under $14k

https://www.truecar.com/used-cars-fo...13-volvo-xc90/
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Old 04-01-2018, 10:42 AM
 
Location: 5,400 feet
2,198 posts, read 2,269,902 times
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Quote:
Originally Posted by TimAZ View Post
And what is a typical repo car worth to the lender? Certainly not the loan value in most instances, and often it's a total write off.
Not to all the buy here-pay here auto sellers. They just continue to resell the same cars, at high prices and seriously high interest. They make money on the financing, a lot of it, not selling the car.
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Old 04-01-2018, 02:30 PM
 
608 posts, read 280,904 times
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Quote:
Originally Posted by jiminnm View Post
Not to all the buy here-pay here auto sellers. They just continue to resell the same cars, at high prices and seriously high interest. They make money on the financing, a lot of it, not selling the car.
I thought we were talking about auto loans from company finance, banks, and credit unions. The marginal "buy here, pay here" lots are a drop in the bucket. Their paper is never bundled or collateralized.
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Old 04-01-2018, 05:38 PM
 
46 posts, read 29,563 times
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Anyone can get an auto loan. When we purchased my wife's car, I wanted to put it in all in her name including the financing. When completing the application the finance guy asked where she worked. I told him she worked for me.. my company. At that moment, I made up a title and a salary. He put it down and she got the loan. No checking... nothing.
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Old 04-04-2018, 07:54 PM
 
1,704 posts, read 1,520,484 times
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Quote:
Originally Posted by tickyul View Post
120 month auto-loans are not uncommon when you are talking about 50K and up vehicles. I imagine the larger the loan, the longer the terms, the bigger the chance of defaults.
50k vehicles seem more aimed at hybrid business and personal use - like crew cab trucks, Sprinter vans.
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Old 04-22-2018, 07:07 AM
 
2,468 posts, read 2,722,968 times
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Quote:
Originally Posted by tickyul View Post
120 month auto-loans are not uncommon when you are talking about 50K and up vehicles. I imagine the larger the loan, the longer the terms, the bigger the chance of defaults.
Hmm, I wonder if 50 year mortgage will make a comeback since housing prices are so high in certain markets?
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Old 04-22-2018, 07:19 AM
 
2,240 posts, read 1,385,700 times
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Quote:
Originally Posted by maus View Post
Hmm, I wonder if 50 year mortgage will make a comeback since housing prices are so high in certain markets?
The banks are too smart to offer 50 year mortgages on something that may actually increase in value if in the right metro and the inflation risk (if it was actually fixed) is way too high. Cars depreciate super fast so sure go ahead and finance it over 7 years while it goes further and further underwater.
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Old 04-22-2018, 01:38 PM
 
2,468 posts, read 2,722,968 times
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Originally Posted by Thatsright19 View Post
The banks are too smart to offer 50 year mortgages on something that may actually increase in value if in the right metro and the inflation risk (if it was actually fixed) is way too high. Cars depreciate super fast so sure go ahead and finance it over 7 years while it goes further and further underwater.
Thatsright, I sure hope this is true for the future about 50 yr mortgages.
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Old 04-22-2018, 01:49 PM
 
2,468 posts, read 2,722,968 times
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Quote:
Originally Posted by NewJerseyForever View Post
Anyone can get an auto loan. When we purchased my wife's car, I wanted to put it in all in her name including the financing. When completing the application the finance guy asked where she worked. I told him she worked for me.. my company. At that moment, I made up a title and a salary. He put it down and she got the loan. No checking... nothing.
This is part of the problem that most anyone can get an auto loan. A person with marginal credit buys a car they cannot afford, and ends up upside down quite quickly if they have huge financial setbacks (job loss).

I'm not sure about an auto loan bubble, who knows? Maybe it is here already with some subprime lenders going under recently. Car loan Delinquency rates are up overall according to this April 2018 Business Insider article.
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