Banks won't finance you if you have a repo

[matth]

Banks use fractional reserve banking so if you paid more than 10% of what they loaned you they already made money. That’s why they give out these loans like candy

[ArturGrigio]

I love how they make the banks the bad guys.
“That guy” gave me a loan, and I didn’t pay my payments, now he wants to charge me extra for giving me another loan… what an assh*le!

Comment not aimed at you Lucky, but at the people that complain about the interest rates. Banks charge the next guy for the losses on the last guy.

[jayc]

Banks are gonna need a bail out...with all the damn overpriced car loans they issued

[Sandlewood-tisv]

Captions: laid a lot? Does it mean late a lot?

[ceusolution]

Back in the day, we called it a "Sin Against A Brethren." Lose a house and getting another home loan because increasing difficult. Lose a car and forget about getting another car loan. Flake out on one finance company (mouse house) and the others would avoid you like the plague.

[johnmoore]

The banks are supposed to check your ability to pay back the loan. If they don't, that is accounting control fraud. Yeah, the borrower may have lied and that's on the borrower as well. But, then the bank takes the loss, and the executives who killed the underwriting process goosed their compensation and basically looted the firm. The borrower gets full blame when there's plenty of blame to go around. Remember that the bank never had to make such risky loans in the first place.

[Joherandez-jzjn]

Good, people went crazy financing overpriced vehicles maybe that's the only way they will learn.

[Lightdog]

I have a interesting question I have a bmw voluntary repo from a failed lemon law case but I paid them the balance after the car was sold at auction this was in 2020 should I try and get a car now or will I be “ok” since out of 4 cars 2 Hondas and 1 other bmw where never late ?