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Posted on 9/18/25 at 5:22 pm to John Barron
Anyone else laugh their arse off realizing this advertisement was at the bottom of this thread?
Posted on 9/18/25 at 5:49 pm to Junky
quote:
And they thought this was a good idea?
Probably is if you can repackage and sell the notes to the market or some other group.
Posted on 9/18/25 at 6:07 pm to Timeoday
quote:
I wonder who is buying his paper?
Thank you Timesday. This isnt about car loans, its about generating the "legit" loans and having people buy the paper under traditional practices, filing bankruptcy, before buying a 50 million spread in Texas and proclaiming your primary residence. Sell it for a 10 million loss, pocket the 40 million and call it a day.
Posted on 9/18/25 at 7:06 pm to John Barron
How long has this place been around? I'd look at Credit Acceptance. They are the king of subprime auto loans. If they start going under that might be an issue .
It wouldn't surprise me though. There seems to be a growing number of people struggling to get by on monthly bills.
It wouldn't surprise me though. There seems to be a growing number of people struggling to get by on monthly bills.
Posted on 9/18/25 at 7:07 pm to John Barron
Oh this is going to be a fun one to see unfold.
Posted on 9/18/25 at 7:10 pm to AubieinNC2009
quote:
Seems like a risky business. Maybe stop giving overpriced car loans to people who can't afford them.
They were probably getting USAID money
Posted on 9/18/25 at 7:12 pm to John Barron
Even the "prime" loans are collapsing.
Posted on 9/18/25 at 7:14 pm to tide06
quote:
Probably is if you can repackage and sell the notes to the market or some other group
I’d be curious to know if they had an existing underwriter or were dumping these in warehouses to wrap up and securitize.
Posted on 9/18/25 at 7:20 pm to Mid Iowa Tiger
quote:
Most of their buyers were probably deported. Hard to make car payments in Pesos from Mexico.
How many were driven across the border back to their home country if they were not rounded up by ICE?
Posted on 9/18/25 at 7:22 pm to Tarps99
It amazes me how so many people have really nice, newer cars or especially trucks. I’m not sure I understand why anyone would want a 1k car payment, but by gawd apparently tons of people have no issue with it.
Posted on 9/18/25 at 7:23 pm to John Barron
Yeah, that *Auto Lender* likely had the inside line to service all the Biden Subsidies to illegal immigrants with virtually government guaranteed money for autos. But the Dems lost and now the money is going away. Along with many of the immigrants. We know who eats this, the common, middle class folk who are caught in the printed money, inflationary spiral and slammed with a 'hidden tax'.
Transnational Progressive Left doing work.
Transnational Progressive Left doing work.
Posted on 9/18/25 at 7:35 pm to John Barron
quote:
Subprime Crisis 2.0
quote:
prices for the almost $2 billion of debt behind subprime auto-lender Tricolor Holdings suddenly collapsed yesterday,
Two whole billion dollars??? $2 billion is a rounding error in the big U.S. banks' financial reports.
The 2008/2009 subprime collapse involved over $1.5 TRILLION in balance sheet (credit) losses.
As of the end of August, 2025 total U.S. banks assets were $24.5 TRILLION.
Chase Bank writes off almost $2 billion every quarter in just credit card losses.
You and ZeroHedge need to find another sky-is-falling crises to panic over because this ain't one...
Posted on 9/19/25 at 4:01 am to W2NOMO
quote:used car salesmen are the new strippers with 5 Miami condos
Sub prime for cars? Lol
Posted on 9/19/25 at 4:08 am to Mid Iowa Tiger
quote:
Most of their buyers were probably deported.
So someone thought it was a good idea to set up a business to make loans to people who may leave the country and not be allowed back?
Posted on 9/19/25 at 4:09 am to Mid Iowa Tiger
quote:they should have driven their car back to Mexico
Most of their buyers were probably deported. Hard to make car payments in Pesos from Mexico.
Posted on 9/19/25 at 4:28 am to Junky
Hate to say it but most of the immigrants I know that don’t have the proper documentation all drive a car.
We have built a big part of our economy around them to 20+ years. From sales tax to rental properties. Millions of people working. The simple idea we can just undo that because it is politically comfortable is absurd. There will be financial consequences.
We have built a big part of our economy around them to 20+ years. From sales tax to rental properties. Millions of people working. The simple idea we can just undo that because it is politically comfortable is absurd. There will be financial consequences.
This post was edited on 9/19/25 at 4:32 am
Posted on 9/19/25 at 5:03 am to TrueTiger
quote:
So someone thought it was a good idea to set up a business to make loans to people who may leave the country and not be allowed back?
That was pretty much Tru-colors business plan.
Posted on 9/19/25 at 5:05 am to tide06
quote:
Probably is if you can repackage and sell the notes to the market or some other group.
quote:sounds familiar
These portfolios can be used as collateral to obtain financing, such as warehouse credit lines (short-term loans banks provide to finance companies to fund operations).
In a double-pledging scheme, the lender pledges the same auto loan portfolio to multiple banks as collateral for different credit lines.
Each bank believes it has exclusive claim to the portfolio’s cash flows or value, unaware that other banks have been promised the same assets.
Posted on 9/19/25 at 5:07 am to trinidadtiger
quote:but you might go to jail like all those people in 2008.
This isnt about car loans, its about generating the "legit" loans and having people buy the paper under traditional practices, filing bankruptcy, before buying a 50 million spread in Texas and proclaiming your primary residence. Sell it for a 10 million loss, pocket the 40 million and call it a day.
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