Black Deadbeats are Defaulting on Their Auto Loans, even Though They are All Morally and Intellectually Superior to Whites!

Sun, Nov 10, 2019 8:59 p.m.

I don't understand what you are saying? Every time I turn on the TV I see a black doctor or lawyer, usually the janitor is some stupid white dude. No ******* way are these black folks defaulting on their loans, they are superior and super smart! Just watc

Onerous Loan Terms Are Crippling Already Broke Subprime Auto Buyers | Zero Hedge As the bubble in subprime auto continues to grow bigger - even at the same time the auto industry is mired in recession - terms on new loans for new buyers continue to get more burdensome for already broke consumers. In fact, many people are piling on debt to their auto loans that far exceeds the car's value, according to the Wall Street Journal. ... www.zerohedge.com

Blacks with crappy credit?

No way!

Now about that sub-prime mortgage meltdown....

The first "real" job I had after B-school was as a finance manager at a Honda dealership in SoCal.  This was in 2000...  I loved that job!  I worked with some true characters.

We had Honda credit for people with scores above 620 or so, and numerous options for applicants with less-than-adequate scores.  There were 3 tiers of financing.  We had almost zero repos from tier one.  We got about 10% back from tier two.  But tier three came back at about 50% and was almost always a "used" (as opposed to a new Honda).

I could never understand why they offered those loans.  The dealership and finance company had to lose a ****-ton of money on those transactions.  Yet, we were encouraged to push the loans when no other option would work.

Of course, those loans overwhelmingly went to minorities -- mainly blacks.