DO NOT BUY A CAR FROM THIS GUY
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My boy Cam is on that 120 month loan for that Raptor
if this is happening across the country, i’d love to know how this differs from bad home loans leading to the housing bubble. im assuming they start the loan and sell it to another lender. people lose their job, crash the car, or try to get out of the loan and are upside-down.
He’s not in the car sale business, he’s in the repot and wage garnishment business.
use the 5k down payment for a beater… u dont need to go into bad debt for a vehicle if there is other options.
How is he a bad guy? It’s either pay that or no car? The rate is high because they are high risk.
A person with a low credit score and/or no hefty downpayment should never finance a brand new car. Buy a beater car, and save yourself paying interest on an asset that loses value. By the time your done paying it off, it will be worth a lot less than what your paid into it via the loan.
Taking advantage of people that are making a huge purchase? I know the people going to this dude should also be held accountable, I think they should be more proactive and research more before making such a huge decision, but the dude knows who he is selling to and is taking advantage of them for it.
It’s called every credit card
565 monthly on an a 8+ year truck is crazy lol
How is he the one at fault though? The buyers are the ones trying to live outside of there means
84 months is 7 years. Idk about you, but I’d rather pay a $50,000 loan over 100 years rather than 3 (unrealistic number used to demonstrate math).
Let’s do collaboration my friend I’m from India I’m interested to invest in America