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Question about college players with expensive cars
Posted on 9/23/17 at 3:36 pm
Posted on 9/23/17 at 3:36 pm
We often see pictures of 21 yr old college players driving expensive cars. If they are doing something to hurt their eligibility, it doesn't seem to bother them as they pose for pictures and post them on social media.
So I know a kid can't have an agent. I know he can't get help from a program booster. But is there anything against NCAA rules that prohibits them from financing a car on their own?
The average college student cannot get a big loan like that, nor can most college players. But players like Guice, Key, and other projected first rounders are less than a year away from a multi million dollar signing bonus. If I was a car dealer or finance company, I would have little problem sellling them a vehicle at list price on a signature loan.
So long as the car dealer is not a program booster, are there any rules that stop a kid from borrowing against an almost certain future income stream to buy a car, or anything else for that matter?
So I know a kid can't have an agent. I know he can't get help from a program booster. But is there anything against NCAA rules that prohibits them from financing a car on their own?
The average college student cannot get a big loan like that, nor can most college players. But players like Guice, Key, and other projected first rounders are less than a year away from a multi million dollar signing bonus. If I was a car dealer or finance company, I would have little problem sellling them a vehicle at list price on a signature loan.
So long as the car dealer is not a program booster, are there any rules that stop a kid from borrowing against an almost certain future income stream to buy a car, or anything else for that matter?
4
Posted on 9/23/17 at 3:42 pm to paper tiger
I'll be honest, I stopped reading at the first paragraph.
Posted on 9/23/17 at 3:49 pm to paper tiger
this is actually one of my side hustles. I've probably financed 20 cars over the yrs for LSU athletes who are projected to go high in their respective drafts. They throw me a bone and I oblige them
Posted on 9/23/17 at 3:49 pm to paper tiger
I'm not reading all that, but most D I student athletes gets a cost of attendance stipend. LSU's is a little under 4k/year. This is on the middle to low end. Tennessee is around $5600.
That's easily enough for a lease on a nice used car especially if the dealership is "friendly".
LINK
That's easily enough for a lease on a nice used car especially if the dealership is "friendly".
LINK
Posted on 9/23/17 at 3:49 pm to TchPowDog
quote:
I'll be honest, I stopped reading at the first paragraph
Is this a function of you being weak at reading or weak at snark? It's hard to tell on the rant sometimes when the first reply to a post is the tired old "stopped reading" bit.
Posted on 9/23/17 at 4:01 pm to paper tiger
Lebron James did exactly this to buy an escapade when he was in HS and had to miss several games before they declared that a dealership allowing him to borrow against money he will make one day was not against the rules
Posted on 9/23/17 at 4:10 pm to Tiger1242
That all started with Charles Jefferson when he was at Ridgemont High.
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