...well... maybe I'll wait until the M6 is back on a lot as a CPO. 
Enjoy!
Auto Loan Defaults Newest Financial Meltdown
Enjoy!
Auto Loan Defaults Newest Financial Meltdown
I'm sooo getting an M6!
- Thread starter Rick Hunter
- Start date
I have no sympathy for stupid or reckless people. I watch every dime I make and that's why I can afford the car I drive. I hate the thought of people getting bailed out of something based on their stupidity. I know there's talk about a bailout for people who can't afford their mortgages becuase they went with a variable rate. That's crap! I was smart enough to realize the risk and went with a 30 year fixed. Why should people who make a bad decision get a second chance when those who make a smart decision in the first place don't get any assistance? Sorry...beginning to rant! 
mattholecko said:I have no sympathy for stupid or reckless people. I watch every dime I make and that's why I can afford the car I drive. I hate the thought of people getting bailed out of something based on their stupidity. I know there's talk about a bailout for people who can't afford their mortgages becuase they went with a variable rate. That's crap! I was smart enough to realize the risk and went with a 30 year fixed. Why should people who make a bad decision get a second chance when those who make a smart decision in the first place don't get any assistance? Sorry...beginning to rant!
Matt, you're absolutely right, but it's hardworking, diligent people like you who end up paying for idiots like this woman. Finance companies, banks, credit card companies etc. know this will happen and the costs are passed to us, the responsible consumers. Even the thought of this woman losing her "life savings" of less than $30k. Maybe car dealers should check people's account balances. Rule #1. If you have less money saved than the price of the vehicle, NO SALE.
$30k down on a leased car, some of which was paid by credit. The more I think about it thee more disgusted I get! :x
" She was so passionate about wanting that car and would have done anything to get that car"
I don't blame the woman so much....it's like a kid bingeing on candy. The finance companies know this sort of thing can happen (especially with glossy posters of cars hanging behind the salesman's head as the customer is deciding on whether or not to sign). The industry (and regulators) need to make sure that things go back to the the way they were in that the lenders are the ones who directly bear the risk. They'll be a lot more careful of who they lend to.
If not, then put me down for a gently used Z4M coupe!
I don't blame the woman so much....it's like a kid bingeing on candy. The finance companies know this sort of thing can happen (especially with glossy posters of cars hanging behind the salesman's head as the customer is deciding on whether or not to sign). The industry (and regulators) need to make sure that things go back to the the way they were in that the lenders are the ones who directly bear the risk. They'll be a lot more careful of who they lend to.
If not, then put me down for a gently used Z4M coupe!
adama222 said:
You're absolutely RIGHT! But we've all seen the glossy posters and in many cases the actual cars in the showroom. I bet many of us on this forum have more than $30k in savings and if given a choice could think of a car or two that costs more than $100k we would like. We're just not that irresponsible, which Vivian apparently is. Now she wants to hire lawyers and file a lawsuit?!? People have to be responsible for their actions. Wanting cars is not a disease cured by a 12-step meeting! :gmb: :wink:
I am now setting my sights on a Bugatti Veyron. 
ovrkll said:
The salesperson should be hanged also....
How is the salesperson liable for this woman's stupidity? Yes, he changed a few numbers. But clearly she kept in pursit of a car that she obviously could not afford. This is what's wrong with America. People have stopped being accountable for their own actions and immediately look for someone to blame. The goverment shouldn't have to sit there and bail stupid people out.
She's on disability.
Probably with a terminal disease.
I must have missed the headlines where stupidity was listed as terminal.
I guess Darwin had a Theory about that.
If I were terminal, I'd probably do the same thing, spend all my money on a new M6, and drive it to death.
I love the line where BMW Financial says they investigated, and the dealer didn't do anything wrong. Yeah, they sold a car, and eventually they'll get that car back, and re-sell it again at a profit. The customer takes the "Drive it off the lot" hit to value. The Dealership, while probably guilty of bad financial practices, did their job: they sold a car.
In the end, she signed, so she is responsible. ...oh, wait this is the US... so we'll all pay for her stupidity. Dammit.
Probably with a terminal disease.
I must have missed the headlines where stupidity was listed as terminal.
I guess Darwin had a Theory about that.
If I were terminal, I'd probably do the same thing, spend all my money on a new M6, and drive it to death.
I love the line where BMW Financial says they investigated, and the dealer didn't do anything wrong. Yeah, they sold a car, and eventually they'll get that car back, and re-sell it again at a profit. The customer takes the "Drive it off the lot" hit to value. The Dealership, while probably guilty of bad financial practices, did their job: they sold a car.
In the end, she signed, so she is responsible. ...oh, wait this is the US... so we'll all pay for her stupidity. Dammit.
PhilDZ4 said:
I agree, the person was a dimwit for getting the car, let alone dreaming about it in her situation. Like they say, you can't legislate against stupidity.
The difference between now and 10 years ago is that the finance company back then would have taken the loss directly whereas recently, they've packaged her loan with a bunch of other receivables and sold it to an institutional customer. In all liklihood, a pension plan or mutual fund will have to eat the loss instead of the finance company. That finance company doesn't feel the burn of their poor decisions (and idotic customers) but unsuspecting regular people now do when they look at their retirement accounts. That's where the system is a little f@cked and is realizing that change is needed.
<now where is that soapbox smily?!>
The woman could be only a certain percent disabled.
My sister was almost killed in a serious trailer accident many years ago, and as a result was 30% disabled. She lives & works normally, even though among other injuries she lacks some ligaments and her knee can be moved forward & backwards without restriction. It's pretty weird to watch. I'm pretty sure she gets financial support from the goverment to compensate for the lesser work ability even though she does work, as she works less hours to avoid overloading the injured parts.
My sister was almost killed in a serious trailer accident many years ago, and as a result was 30% disabled. She lives & works normally, even though among other injuries she lacks some ligaments and her knee can be moved forward & backwards without restriction. It's pretty weird to watch. I'm pretty sure she gets financial support from the goverment to compensate for the lesser work ability even though she does work, as she works less hours to avoid overloading the injured parts.