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SVTPerformance's Chain of Restaurants
Road Side Pub
Future of Racing? EV Content
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<blockquote data-quote="AustinSN" data-source="post: 16369460" data-attributes="member: 159453"><p>This shit has been happening for a while, but it seems to be getting worse recently.</p><p></p><p>My wife did finance at a BMW dealership, there are 2 types of people who buy BMWs, the first one can buy it outright and the entire purchase is a month of pay, the other kind is turning in a 2 year old 3 series on a new X5 with $15K in negative equity because they "need a new car". 2 years later they do the same shit. </p><p></p><p>I remember her talking about some lady who would buy a new car every year and roll the equity, she only made like $30k per year and had a loan of almost double the value of the new car. Management would have to step in and sweet talk the underwriters at the bank to get them to accept it. The interest rate was well into the double digits.</p></blockquote><p></p>
[QUOTE="AustinSN, post: 16369460, member: 159453"] This shit has been happening for a while, but it seems to be getting worse recently. My wife did finance at a BMW dealership, there are 2 types of people who buy BMWs, the first one can buy it outright and the entire purchase is a month of pay, the other kind is turning in a 2 year old 3 series on a new X5 with $15K in negative equity because they "need a new car". 2 years later they do the same shit. I remember her talking about some lady who would buy a new car every year and roll the equity, she only made like $30k per year and had a loan of almost double the value of the new car. Management would have to step in and sweet talk the underwriters at the bank to get them to accept it. The interest rate was well into the double digits. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
Future of Racing? EV Content
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