Auto Loan After Bankruptcy - Don't Get Trapped Again

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Credit Manager

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Auto Loan After Bankruptcy - Don't Get Trapped Again
« on: January 30, 2016, 06:22:36 PM »
I created my company after the nonsense and frustration that was witnessed by several parties (Auto Dealers, Salespersons, Finance Companies and the Consumer) lack of common sense regarding selling, and paying for, high interest auto loans.
Auto Dealers make higher profits on vehicles sales to consumers with poor credit.
Banks and Finance Companies have to continually grow their loan portfolio with sub prime consumers to offset and hide their delinquency losses.
Consumers expect to get approved every time they go into a car dealership and do not mitigate their expectations based on their credit score.
This market can't continue this way and someone has to control this.
There have been warning signs in the past such as an article that CBC posted.
Search "Car Buyers Say Car Dealerships Duped Them TD Bank" and view the video.

This was almost two years ago, and this practice still continues today.
For the reasons stated above.
I am trying to stop this.



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UnderD0g

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Re: Auto Loan After Bankruptcy - Don't Get Trapped Again
« Reply #1 on: April 08, 2016, 10:17:15 AM »
Hi Credit Manager,

I read the CBC's Go Public article you referred to. Very interesting and frustrating at the same time. There should be a blacklist of dealerships that screw customers.

What company did you start?

- Steve

 

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