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Strategies & Market Trends : Technology Stocks & Market Talk With Don Wolanchuk
SOXL 58.12+4.9%Jan 15 4:00 PM EST
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To: roguedolphin who wrote (103834)2/11/2016 4:01:43 PM
From: robert b furman3 Recommendations

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Hope I don't offend any one here,but that women does not know what she is talking about.

When a dealer makes a credit application, it can NOT be fraudulently filled out by the dealer.

A customer c give incorrect data and it is the lending institution responsibility to confirm employment.

If a loan is subprime there are stipulations required - if not complied with the loan does not get funded.

If a dealer misrepresents the loan data and a repo occurs - the lending institution has the right to check "Terms and Conditions"

If the credit ap is not correct the loss of the repo is charged back to the dealer.

THAT IS WHAT ASSURES NO FRAUD !!!

There is never enough profit in a deal to absorb a repo loss.

Margins are thin.

Vehicles are expensive and used car values are holding unbelievably well.

The reason 72 month terms are getting popular is because we are selling 40,000 and 60,000 tucks and SUVs.

A used trade with over 1000,000 miles on it is most often over a 10,000 truck.

When I started appraising used truck 100,000 mile trucks were worn out and had A $1500.00 VALUE.

Todays cars and trucks last 250,000 mile when well maintained - they are very valuable and sought after.

Used car dealers pay big bucks for a nice low mileage vehicle.

So much so it requires longer term to pay it off.

As far as fraudulent loans are concerned - I can tell you dealers want none of it.

It takes credit and proof of residency and proof of income to get a subprime loan.

That women does not know what she is talking about anjd is trying to create an alarmist situation.

Simply put SHE"S FOS.

Bob
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