John Oliver piece on car loans being the new mortgage crisis...

[6speed8]

When I first joined the forums, there seemed to be lots of questions as to how or why, people barely 5 minutes out of bankruptcy are getting credit cards, car loans,etc. I always sumed it up to creditors feeling that since you can't file again for the next 10 years, you own the debt no matter what. So sure !! We'll extend credit to you !! But it's gonna be a bazillion percent !! A friend texted this piece to me and I found it interesting so I thouoght I'd share it.

https://www.youtube.com/watch?v=4U2eDJnwz_s

[StartingOver10]

Good link!

It perfectly illustrates that when a loan is signed it creates an income stream for the lender.  No wonder the subprime lenders don't mind repo's - the more repo's they have on the same car, the more payment streams they generate.

[Anonymous]

Couldn't take 17 mins with this guy

[jim44]

---

@Anonymous wrote:

Couldn't take 17 mins with this guy

---

You made all the way in the video to 17 minutes? ..... I made it just to the point of the canned laughter.  This guy has no clue.. sounds like he's trying to imitate Stephen Colbert's style.

[Ditovera]

---

@jim44 wrote:

---

@Anonymous wrote:

Couldn't take 17 mins with this guy

---

You made all the way in the video to 17 minutes? ..... I made it just to the point of the canned laughter.  This guy has no clue.. sounds like he's trying to imitate Stephen Colbert's style.

---

Ignorance is bliss

[Anonymous]

1:12 and hit stop.

That said the data is trending unfavorably that consumers are once again getting into car loans they have no business being in and the 30+ days lates are trending upwards.

[Anonymous]

....double tapped