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Link Posted: 4/10/2017 4:35:31 PM EDT
Fueling the next financial crisis with sign-&-stuff.

My .02.
Link Posted: 4/10/2017 4:51:17 PM EDT
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Quoted:
Fueling the next financial crisis with sign-&-stuff.

My .02.
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salad days...I miss the old times.
Link Posted: 4/10/2017 8:52:50 PM EDT
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Gonna sell a LOT of 300s!
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Can't fault a company for knowing their base customer.  Good for them both.


Gonna sell a LOT of 300s!


I can see it in that market segment as well as the flat bill hat trims of the Rams.

But basic Tradesman Rams?
Link Posted: 4/10/2017 8:55:45 PM EDT
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go be poor somewhere else.


ar-jedi
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technically isn't that discrimination for people like me that's over 800? 
go be poor somewhere else.


ar-jedi
i lol'd
Link Posted: 4/10/2017 9:31:40 PM EDT
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Fueling the next financial crisis with sign-&-stuff.

My .02.
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Sub prime crisis in the auto industry is a brewing........
Link Posted: 4/10/2017 10:21:54 PM EDT
Know one in GD with qualify. Everyone has an 850 credit score.
Link Posted: 4/10/2017 10:23:51 PM EDT
Sub prime car loans?
Link Posted: 4/10/2017 10:59:36 PM EDT
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Sub prime car loans?
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I'll just leave this here.......Subprime auto loans


"About a third of the risky car loans that are bundled into bonds are considered “deep subprime,” a level that has surged since 2010 and is translating to higher delinquencies on the loans, according to Morgan Stanley.

Consumers are falling behind on most subprime car loans, but deep subprime borrowers have deteriorated fastest, the analysts said. Sixty-day delinquencies for bonds backed by these loans have risen 3 percentage points since 2012, compared with just 0.89 percentage points on all other subprime auto securities, Morgan Stanley’s Vishwanath Tirupattur, James Egan and Jeen Ng said in a report dated March 24.

“The securitization market has become more heavily weighted towards issuers that we would consider deep subprime,” the strategists wrote. “Auto loan fundamental performance, especially within ABS pools, continues to deteriorate.”

The percentage of subprime auto-loan securitizations considered deep subprime has risen to 32.5 percent from 5.1 percent since 2010, Morgan Stanley said. The researchers define deep subprime as lenders with consumer credit grades known as FICO scores below 550. The scale from Fair Isaac Corp. ranges from 300 to 850 and while there’s no firm definition of subprime, borrower scores below 600 are in general considered high credit risks.
Link Posted: 4/10/2017 11:24:07 PM EDT
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Quoted:
I'll just leave this here.......Subprime auto loans


"About a third of the risky car loans that are bundled into bonds are considered “deep subprime,” a level that has surged since 2010 and is translating to higher delinquencies on the loans, according to Morgan Stanley.

Consumers are falling behind on most subprime car loans, but deep subprime borrowers have deteriorated fastest, the analysts said. Sixty-day delinquencies for bonds backed by these loans have risen 3 percentage points since 2012, compared with just 0.89 percentage points on all other subprime auto securities, Morgan Stanley’s Vishwanath Tirupattur, James Egan and Jeen Ng said in a report dated March 24.

“The securitization market has become more heavily weighted towards issuers that we would consider deep subprime,” the strategists wrote. “Auto loan fundamental performance, especially within ABS pools, continues to deteriorate.”

The percentage of subprime auto-loan securitizations considered deep subprime has risen to 32.5 percent from 5.1 percent since 2010, Morgan Stanley said. The researchers define deep subprime as lenders with consumer credit grades known as FICO scores below 550. The scale from Fair Isaac Corp. ranges from 300 to 850 and while there’s no firm definition of subprime, borrower scores below 600 are in general considered high credit risks.
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Quoted:
Sub prime car loans?
I'll just leave this here.......Subprime auto loans


"About a third of the risky car loans that are bundled into bonds are considered “deep subprime,” a level that has surged since 2010 and is translating to higher delinquencies on the loans, according to Morgan Stanley.

Consumers are falling behind on most subprime car loans, but deep subprime borrowers have deteriorated fastest, the analysts said. Sixty-day delinquencies for bonds backed by these loans have risen 3 percentage points since 2012, compared with just 0.89 percentage points on all other subprime auto securities, Morgan Stanley’s Vishwanath Tirupattur, James Egan and Jeen Ng said in a report dated March 24.

“The securitization market has become more heavily weighted towards issuers that we would consider deep subprime,” the strategists wrote. “Auto loan fundamental performance, especially within ABS pools, continues to deteriorate.”

The percentage of subprime auto-loan securitizations considered deep subprime has risen to 32.5 percent from 5.1 percent since 2010, Morgan Stanley said. The researchers define deep subprime as lenders with consumer credit grades known as FICO scores below 550. The scale from Fair Isaac Corp. ranges from 300 to 850 and while there’s no firm definition of subprime, borrower scores below 600 are in general considered high credit risks.
Who's buying that crap paper?
Link Posted: 4/10/2017 11:38:01 PM EDT
Seriously?.....jeez-o-pete you gotta default on your house payment, your school loans, your Aaron's Appliance rentals to get to 620.

And Chrysler wants to give'm $1500 AND a car/truck loan approval? .......Who's the fuckin' genius that came up with that idea?

Go ahead, good luck......for the rest of you , get ready for some killer deals on Rams.
Link Posted: 4/11/2017 7:07:51 AM EDT
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Who's buying that crap paper?
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Im guessing because of the products they are bundled with investors aren' as concerned ?
Link Posted: 4/11/2017 7:14:37 AM EDT
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Rams have always seemed to be the most popular trucks around here, and are usually cheaper.

Here is the truck I bought last month.
ETA: Bought this with the intent to have it paid off in a few years. Then purchase a nice 5th wheel, then sell the house and go full time RV.

http://hanzerik.servehttp.com/pics/Stuff/PicsArt_04-10-01.27.27.jpg
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hot!    thats a nice fucking truck man! 
Link Posted: 4/11/2017 8:15:22 AM EDT
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Sub prime crisis in the auto industry is a brewing........
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It's suicide & they know it.

I wonder what the % is on those compared to a prime rate buy.

I hear soooo many "Bad Credit, Zero down xxx/month" deals on the radio. Yeah cause that's what people need that are buried in debt, more debt.
Link Posted: 4/11/2017 8:31:42 AM EDT
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Anyone in the auto industry already knows which customer base Chrysler/Dodge targets.  The "I can make that low monthly payment for 8 years" (with 15% interest) crowd. i.e. Chrysler 300/Charger crowd.  Works VERY well for them.
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right up to the point that those "Targeted Customers" stop paying their loans...

Mitsubishi was a giant in the auto business in the 90's and then nearly went bankrupt on their no payments for a year "special" they ran for bad credit customers who drove a new car for a year and then defaulted when the real payments were to begin...

The auto loan industry is the next mortgage meltdown waiting to happen.  Credit extended to those how have no business with those kind of loans and will default all over the place if the economy hits a rough patch...
Link Posted: 4/11/2017 8:34:01 AM EDT
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thats pretty low for rebates

my Ram had $7500 in rebates before we even started talking price

they do this pretty regular, it wasnt some one time thing
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Rebates are a killer of resale value down the road...

When a maker has to throw money at a buyer to get them to buy, it screams that they were greedy & didn't price their product right the first time
Link Posted: 4/11/2017 8:59:02 AM EDT
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Quoted:


It's suicide & they know it.

I wonder what the % is on those compared to a prime rate buy.

I hear soooo many "Bad Credit, Zero down xxx/month" deals on the radio. Yeah cause that's what people need that are buried in debt, more debt.
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these loans securitized? Arfcom group deal and we all go short on 'em...no idea what I'm talking about but it sounds like fun
Link Posted: 4/11/2017 11:25:43 AM EDT
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these loans securitized? Arfcom group deal and we all go short on 'em...no idea what I'm talking about but it sounds like fun
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Just heard one a few minutes ago from a Ford dealer, they call it the "Debt Assistance Program".

Yeah it is.

They are actively seeking people who have a history of missing payments & having overall bad credit it seems.

As a group that type of buyer has a history of poor decisions, so they are the perfect candidate.
Link Posted: 4/11/2017 3:24:57 PM EDT
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right up to the point that those "Targeted Customers" stop paying their loans...

Mitsubishi was a giant in the auto business in the 90's and then nearly went bankrupt on their no payments for a year "special" they ran for bad credit customers who drove a new car for a year and then defaulted when the real payments were to begin...

The auto loan industry is the next mortgage meltdown waiting to happen.  Credit extended to those how have no business with those kind of loans and will default all over the place if the economy hits a rough patch...
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I don't think it will be a mortgage meltdown type of impact because the $$$ are not the same cars are a fraction of housing costs, but it will wreak havoc on the used car market. If I were betting man I would hedge to say truck prices may be first bubble to burst
Link Posted: 4/11/2017 3:29:38 PM EDT
Too bad all rams rust after 5 years after salt and snow.
Link Posted: 4/11/2017 3:37:06 PM EDT
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Rebates are a killer of resale value down the road...

When a maker has to throw money at a buyer to get them to buy, it screams that they were greedy & didn't price their product right the first time
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Like I've always said-The big 3 pay you to buy their cars. I'm the only one in family that buys Toyota's regularly and it's great to not know what depreciation feels like.
Link Posted: 4/11/2017 3:38:39 PM EDT
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That's racist!
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Duh.

It's math.

And math is racist.
Link Posted: 4/11/2017 3:52:26 PM EDT
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Just heard one a few minutes ago from a Ford dealer, they call it the "Debt Deadbeat Assistance Program".

Yeah it is.

They are actively seeking people who have a history of missing payments & having overall bad credit it seems.

As a group that type of buyer has a history of poor decisions, so they are the perfect candidate.
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these loans securitized? Arfcom group deal and we all go short on 'em...no idea what I'm talking about but it sounds like fun
Just heard one a few minutes ago from a Ford dealer, they call it the "Debt Deadbeat Assistance Program".

Yeah it is.

They are actively seeking people who have a history of missing payments & having overall bad credit it seems.

As a group that type of buyer has a history of poor decisions, so they are the perfect candidate.
fify
Link Posted: 4/11/2017 7:39:10 PM EDT
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Im guessing because of the products they are bundled with investors aren' as concerned ?
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Who's buying that crap paper?
Im guessing because of the products they are bundled with investors aren' as concerned ?
Possibly, more than likely institutional folks, I know goldman is getting into the same space albeit unsecured lending.
Link Posted: 4/13/2017 3:24:25 AM EDT
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Too bad all rams rust after 5 years after salt and snow.
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They don't use salt here, but it does snow a lot LOL.
No rust on my 2007 Ram 1500. Didn't trade it in on the 2017 Ram...sold it to my Son. Oil change every 3k, just had the brakes done, and a Idler pull replaced. Was a pretty reliable truck. Was the reason I went with Dodge again, just bigger this time.
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