Thread 518825122

The fintech geniuses devised a new way to help zoomers in these uncertain financial times - tap into their equity of their used cars. Maybe they can use their new found wealth to Klarna a Chipotle burrito?

https://www.zerohedge.com/political/mark-cuban-backed-startup-lets-low-fico-people-tap-used-car-equity-even-if-not-paid-30

>>518825122 (OP)
I hope this takes off, re-hypothecation for everything ad nauseam, five times at least, preferably more. That crash will be so fantastic people will feel spinning dreidels even in their sleep, if they can find any.

>>518825719
I respect the hustle - yeah, we are going to put already struggling people in further debt. So what?

So what's wrong with this exactly? It's just using your car as collateral if you don't pay your bill, so it's cutting out the middleman of collections agencies.

>>518825932
The subprime auto market is fucked. Read about what happened to tricolor

>buy car from roommate
>radio, engine sold separately
>profit

>>518825122 (OP)
there no way people are actually using these and things like Klarna right?

Just using debt to try and hide that we're in a depression?

>>518825719
well I got like 5 cars that on paper worth 5-10k
but actually rusted scrap.
Seems like I should get some moeny outta these

>>518826264
what is that?
i'm not a rich zoomer, i don't know if i'd have any equity in my car.

>>518825122 (OP)
Is this a Dave Ramsey approved financial strategy?

>>518825122 (OP)
>cash for clunkers 2025 edition.

>>518829193
Yes. Dave loves both having car payments and having debt.

>>518828715
Do you have a phone plan? Maybe they should let you use phone equity to buy a cheeseburger

>>518825122 (OP)
Also the rise of the subscription model is another indicator of how fucked things are
Seller of my last washing machine told me that rather than paying an insurance extension on my new washing machine once I should have taken the monthly insurance plan. Then whenever my washing machine breaks I'll get a "new" one aka a subscription for washing machines.
No one mentions though that that way you pay much more in the long run.
When I think about literally every subscription I had I always underutilized it making the price per unit much higher than when I would have bought it outright.

>>518831062
It drives me crazy that everything is a fucking subscription now. You can’t just buy photoshop you have to pay monthly now. It’s zoomers fault.

>>518829827
heh gotem, or a $600 car, then a loan on the car or a new phone

>>518831732
*on a

>>518827827
People are just living way beyond their means because of the I need it now and I am too stupid to do shit on my own culture so I pay someone else a premium to do it.

>>518831062
People want and use services that only the wealthy would have considered just 30 years ago.

>>518831732
Never thought about it that way but I've purchased several vehicles for less than my last phone. These little intendo boxes are expensive, had a work phone for about 15 years so never paid much attention to the price, just needed to do call text and email, couldn't have given a shit about the features or other garbage the little gps box does. I have a physical camera, phone glass can suck my wrinkled balls.

>>518825719
Yep. Frankly only an acceleration can change things now.
Jews WON'T stop printing money, much less allow the existence of a debt-free money issuance. So better to just help them hyperinflate the entire world.

>>518827827
>Klarna
If no one was using Klarna or those other micro finance lay away companies, they would all shutter and go away. People are using them

>>518825122 (OP)
How do you get equity in your car? Doesn't it depreciate every day you use it? Do you need to put in a lot of aftermarket shit or what?

>>518825122 (OP)
>30% APR

>>518831178
This, among all of the competing subscription services that have their own little esoteric niche show that is that platform exclusive, have jumpstarted a resurgence of pirating. I am not upset by this.

>>518832611
Thats typical for credit cards for people with low credit scores. Variable rate too.

>>518832575
I think a third of zoomers use klarna and the other one. No cap. Fr, fr.

>>518825122 (OP)
For fuck's sake, Tyrone. If you've mismanaged your finances to the point where this is your only option for credit, you probably shouldn't be trying to borrow money in the first place.

>>518831178
Seriously, fuck that shit. Microsoft office used to be $200 and you owned it forever. Now it's $200 and you own it for a year. And they wonder why people pirate.

>>518832656
30% with collateral though. like I can get a SBLOC for less than 2%. credit cards are high due to the no collateral aspect.

>>518832606
Are you retarded? Value of car minus what you owe on it.

ah yes
law of assignment

>>518831062
This is just paying for "insurance" on a commodity with planned obsolescence built in up front. Of course, since they know the planned obsolescence cycle, you never break even.

>>518831062
>>518825122 (OP)
These are clearly signs of a collapsing society. Inflationary spiral, debts piling up on all levels, products getting worse and worse while their price is going up, yesterdays everyday products becoming luxuries etc. Zoomers are too retarded to realize, but it becomes obvious when you compare the purchasing power of an 1990s paycheck or especially an 1970s paycheck with a 2025 one. You could easily finance a suburban house, a family, two cars, etc. on a 1970 one, but you cannot even afford rent and fast food on a 2025 one. This is obviously unsustainable, as things are continually getting worse.

Funniest shit is, the complete opposite process is going on in China, where the government is starting to rein in the companies after a period of wild capitalism and starting to enforce more and more standards and banning predatory market tactics.

>>518832762
Its probably people with a score of 425 who cant get approved for anything else. There have been other secured credit cards before for people with scores that low. If someone uses this car secured card, responsibly, which is unlikely, it will help them repair their credit score and they can then get an actual credit card that is unsecured. I used to work in consumer finance with subprime borrowers. Some of these people get low scores because theyre retards who don't understand how it all works or they overspend and other people legitimately had hardships they couldnt afford, like sudden funeral expenses or suddenly gaining custody of a drug addict cousins child and they arent irresponsible they just suddenly had more expenses than they can afford and have always worked low wage jobs

>>518832686
Not surprised. Not a zoomer and no one i know uses those services because they all have actual credit cards with good credit limits.

>>518832763
No, I'm just not a kike like you. Equity is gained through improvements that appreciate the value too, you fucking bitch.

>>518833009
We don't live in a society.

>>518825122 (OP)
How much of our economy is based on jews stealing money from niggers and beaners with borderline illegal schemes?

>>518831178
>"This is bullshit, I'm gonna vote with my wallet and refuse to pay for your shitty subscription service!"
>"Lol ok whatever, everyone else around you is a massive retard so you're outvoted and we're going to make EVERYTHING a subscription, leaving you with literally no other options"

Thanks democracy.

>>518833009
Are you sure this just isn’t innovation by the best and brightest minds out of a Silicon Valley incubator?

>>518833288
Trvke

>>518833271
Do you know about tribal loans?

>>518828118
smart lmfao

>>518833009
>the purchasing power of an 1990s paycheck or especially an 1970s paycheck with a 2025 one.
How much is your paycheck now and how much were you earning 55 years ago?

>>518825122 (OP)
whats the problem? put your car up as collateral for liquidity, if you fuck up then your car gets repo'd, if not, you improve your life somehow or other

>>518832384
There's an argument to be made, that it's immoral to let people get into such unpayable debt. But we made people sign up for it with student loans, so I guess it now must be OK.

>>518825719
epstein created CDOs as a hypothecation then pulled his 1:20 money out and rugged bear stearns. these people are scammers and for every 1 of your dollars they are going to pull 20 out.

>>518833271
>jews stealing money from niggers
You should prove you're not a jew and try to start up a business loaning money to niggers at little or no interest.
*spoiler* even at 30% interest and using their cars as security this company is going to go bust within 5 years.

>>518832606
That's why the high interest rate. The depreciation rate on the car is added to the default-risk based interest rate.

>>518833630
This kind of coping is not going to work, little zoomie

>>518833510
No, that would be Juicero.

>>518825122 (OP)
Mega Motors thread?

>>518833009
collapse is the plan. reset and consolidate. zoom zoom have already been groomed to accept it unquestionably.

>>518833063
Risk based default rate + real depreciation rate. That's why the rate is 30%.
>t. actual Jew knows how to calculate this. Some reasonable assumptions embedded here.

>>518833734
Meh, as long as debtor prisons don't come back you'll be fine. Imagine if you could still go to jail for not paying your bills. Actually, that might be the way to go about TND.
>>518833785
So what happens when they all default? Mark cuban gets a shitload of cars nobody wants to buy? Real estate is one thing but car equity? 888-come on now.

>>518833909
Read about tricolor and their business of lending to people with no SSNs. People suspect the ICE raids is what fucked them.

>>518833909
Holy fuck $350/mo for a rolling shitbox that looks ready for the junkyard.

10 years ago I was unsure about my antisemitism.
To absolve myself from emotional or bias I said if the Jews manage to make americans antisemitic, the most open and least racist people to ever exist then they deserve it.

>>518834026
She has equity to lend against by now, I’m sure. I’m sure there are investors that want that sweet, sweet yield on that note.

>>518834009
It's a possible outcome. Cuban is betting things won't mostly go that way, but if they start, the interest rates on those loans will rise.
Or people will start charging 50% for loans on home appliances, then 110% for loans on something else, and the economy crashes.
But we have the reserve currency and those loans are in dollars, so the Fed will just print more money to bail them out if it looks like it's going that way. In other words, the every cynical Mr. Cuban is taking advantage of the "Fed put".

>>518834026
Thats about what my car payment is and I drive a 2024 in a nice trim with heated leather seats and steering wheel. I put money down and have a good credit score, so that would be a difference

Reminder that our old buddy Xi, after seeing too many of China's best and brightest enter the finance sector and use their brains to simply invent ever more parasitic financial vehicles instead of using their talents to innovate in a way that helps China and the chinese people in general, actually changed policy to make less people enter the field, with moves including a capping the salaries of in state-backed finance institutes, a stronger focus on engineer and STEM and the funding of colleges explicitly focused on those things.
Better things are possible, you just have to want to do them.

>>518834176
Ideally you dont have to deal with the cars and are just making money off interest because the person only makes minimum payments and never pays off their card in full

>>518833795
I see, so you are unemployed and unemployable, but 55 years ago you'd have a big house and two cars for spending your days feeling sorry for yourself and masturbating all day.

>>518834026
That car in particular has also been repossessed.

>>518834039
How is this the fault of Jews? Should Cuban not have made these loans available?

Are Americans, so open and not racist, so stupid they can't resist those loans as if they are children who need Jews to protect them from themselves? This statement is clearly true btw, and they would love to take it out on Jews.

>>518825122 (OP)
>News from the future: Mark Cuban now proud owner of 10,000 repossessed Nissan Altimas

>>518833909
>$350 a month for a rust bucket thats got the emergency spare on it.
And based on the childs complexion, the father is long gone.

>>518834234
I have 2 20 year old working cars, nothing sexy but they were both big expensive cars when new the type that depreciate quickly, no car payments, change my own oil and other routine maintenance as I can, if one needs work the other is available but we've rarely had that problem come up so far.
But I don't have to impress colleagues at the work parking lot with my car.

>>518832442
Pretty sure people had washing machines 30 years ago, tard.

>>518834352
This kind of coping is not going to work. You cannot gaslight yourself into believing into everything is fine.

>>518833909
Remember that making America completely car based was one of the first jewish plots and they got away completely with it


>>518834253
Not just that, they started handing out corruption charges, for which you can be executed in China. Say whatever you what, but the Party is not getting kiked and not letting any power to slide into the hand of billionaires.

>>518834253
Joke's on him. Financial institutions love to hire people with physics degrees as quants. Programming ability (or ability to use AI, whatever is current) plus high IQ. The rest will be learned as needed.

>>518825877
Just use the credit card to pay off the car. duh. literally free money

>>518834588
Cars rule. Sorry you can't afford one in your ass backward 2nd world country.

>>518825122 (OP)
don't need credit, I reject any credit score systems either you or any jew goy or chink comes up with

>>518829193
Somebody should call into the show and ask him.

>>518834326
Right. Or else you repo them and have a plan to dump the car to the auction or something.

>>518825122 (OP)
Holy shit this is fucking evil and stupid. It's both at the same time. Evil people are supposed to be smart and not retarded. This is fucking braindead and it's braindead on so many levels it's unreal.

>>518834358
lol it had its final moment of glory before heading home to the junkyard.

>>518834664
the only thing is that when interest is less than real inflation, the more debt you have the more money you make

>>518834645
You have been kiked. Licking jewish ass is not going to fix your society. Being too poor of a country to have a cheap, clean and functional mass transit system is not a brag, it just puts you on par with Ethiopia.

>>518834424
He might have an insurance policy against such damage, and roll the cost of that coverage into his rate. Frankly for such a bizarre loan, I am surprised it's only 30%. 50% would not have surprised me.

>>518825122 (OP)
Just when I thought I couldn't hate (((Mark Cuban))) more.

>>518834503
2 cars is good. My old car got totaled in an accident (I wasnt at fault)
I bought a used loaner car from a dealership that had 7800 miles on it. Nothing too fancy, not a luxury brand. It was ~$37k out the door. I paid for a ceramic coating on the paint and treatment for the leather interior

>>518825122 (OP)
remember that everytime a billionaire pretends he's coming up with a new way to improve your life for the better he's just scamming you in the long run so that you end up in debt while he becomes thrice as rich.

everytime. every single time, all of them.

>>518825122 (OP)
>"Low FICO people"

Add it to the list

>>518834783
yeah okay, I'll keep that in mind when I inherit the family business from Uncle Shekelstein

>>518834455
That car actually doesn't look bad. The family either. They might do OK and benefit from that transportation. I wish them well.

I have a feeling that when the wash settles on this the rules for bankruptcy are going to change spectacularly and easy lending is going to be a thing of the past.

>>518825122 (OP)
>usury
>u·su·ry
>/ˈyo͞oZH(ə)rē/
>noun
>the illegal action or practice of lending money at unreasonably high rates of interest.
>"the medieval prohibition on usury"
what? why are goyim angry and want to murder us? it's just 30%. it must be they hate jews

>>518834684
Maybe they have a buyer in place to immediately sell the cars to get them out of their hands and dont have to deal with it much. Just get the car and sell it and transfer the title and then the other party can deal with it putting up for auction or scrapping or whatever else. They have some sort of plan

>>518825122 (OP)
When you go to the CEOs own website (btw went to a Methodist college) he describes his work as “Building things” and “fixing lending.”

The funniest thing about all these “fintech” CEOs is how they describe their work with such purposeful passion. They’re truly scum of the Earth…merely robbing the crumbs of those who have nothing more to

>>518825122 (OP)
He’s literally going to ruin thousands of people’s lives.

>>518831178
I know a few people that work at Adobe in Emeryville, and they do jack shit. everyone there is just raking it in from their mandatory subscription business model. That's why I use portable pirated versions of Photoshop

>>518834982
The highest interest rate ive ever seen was 777% and that was an injun loan

>>518834786
You've never had to share that system with blacks. Just ask Iryna Zarutska.

>>518834982
30% interest on a loan to someone so bad with money they have to tap their car equity seems right to me. Not usury.

>>518825122 (OP)
Oy vey we will loan you money so we can print more money so you can be even poorer

>>518834617
So paying the rate on an unsecured loan (credit card) to pay off a car loan (secured loan). Brilliant.

Come to think of it, is that just the same risk Cuban is taking? Rather than selling you a car on credit, he'll sell you your existing car on credit. But presumably he secures it with the car. So he's in the car finance business without having inventory, and if he repos a car, he flips it immediately to the auction so his inventory is always minimal. That's actually pretty clever.

That Cuban guy could make a lot of money someday if he put his mind to it.

>>518835056
reznigs are on another level but it's legal for them
>>518835079
>what a jewish thing to say
you know there are state laws to protect consumers right? literally to protect retards from themselves. and their retardation blows back on the community but not the kike who issues the loan. picrel

>>518825122 (OP)
Is there no end to the jewry?

>>518834588
>coping
Says the unemployed unemployable nigger rage-posting about car title loans for niggers.
I've literally never seen title loan stores in any place with lower than 20% nigger population. Those are specifically designed for niggers.

>>518834878
Thanks for the tip, anon. I was almost ready to take on a credit card with my car as collateral so that I could buy shit I don't need with money I don't have to impress people I don't like.
Any other hot financial advice for us?

>>518834982
>lending money at unreasonably high rates of interest.
>unreasonably high
What do you suppose a reasonable rate would be to loan money to niggers?

>>518828118
ahh geese dude I can pay like $3

>>518825122 (OP)
Lmao these jews will do anything but end this dying garbage e-con-o-me.
>here’s some more debt, I mean money, for the car you make debt payments on
Wonder how much more retarded it can all get before people wake up to the nightmare these kikes have inflicted on us all

Mark Cuban is the closest to being Jewish that a gentile can ever be.

>>518825932
You’re getting charged a retarded amount of interest to borrow money against your car, it doesnt even have to be paid off meaning you would have a car loan and now you have to pay off the loan to the car loan on top of that. People who take out loans on their loans dont have the money to pay back the 2nd loan, or even the first most likely. So this whole thing is predatory and jewish to the core, especially at 30%

>>518827827
I used klarna to finance my sex doll

>>518836133
Chabenisky is Jewish. need to check your noticing radar.

>>518825122 (OP)
> low fico people

uhh i think you mean PEOPLE OF LOW FICO

>>518834009
> they all default?

you MIGHT get a market crash, but we WILL get a bail out. either way, when it comes time for the crash, I rather have a shit load of money than not. I think we should milk these suckers for everything they got.

>>518836341
Mr. Sheklestein is going to repo your sex doll when you fail to make payments.

>>518833754
but the niggers won't have cars any longer. perhaps that is the objective, well calculated to still make a shekel in the process, i'm sure.

>>518832456
ok boomer

>>518829193
He is so out of touch these days he's slowly turning into a bootstrap boomer last time I listened to him he was telling a 50 year old doordash driver with he needs to enroll in college and he was dead serious

>>518836062
If the economy goes, so do the boomers. They need their pensions and inflated housing values.

>>518834234
Payment isn't the most important part of a car loan. Term and rate are far more important. If you're at 9% on a 72 month term, you may very well be regarded.

>>518825122 (OP)
I can see this being super easily scammable with some photoshopped titles.

>>518834838
Rates in excess of ~30% for consumer-level debt are typically deemed usurious and are thus illegal in most, if not all, states.

>>518839748
You’re not posting on WSB, nigger. You can say retarded.

>>518833009
The collapse is planned. Society has been geared towards it for decades now. None of this should be surprising. Its inevitable. You will live to see man made horrors beyond your comprehension

>>518825122 (OP)
>30% APR
>on equity
>of a fucking used car

HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHAHAHAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAAA

>>518825122 (OP)
Jews must be removed.

>>518828118
I got a double wrecked totaled vehicle sitting in my driveway but it has no claims against it....
I need money bad too wonder if I can use pictures before I totalled it.

>>518836005
>What do you suppose a reasonable rate would be to loan money to niggers?
i think it would be reasonable to lend niggers $0.
>be kike
>lend to niggers
>know the nigger will not pay back
>send it to collections
>raise everyone's rates
kikes gotta kike. the niggers should have their own monetary system and the rest of the world would flourish. but kikes would call you racist and ppl would rate have 18.5% apr than be called racist.

>>518835722
This zoomer coping/jew shilling is NEVER going to work.

>>518835060
So? You have razed your cities and turned them into parking lots because of niggers instead of solving the problem and trying to brag?

>>518836294
This

>>518825122 (OP)
Fuck your Shark Tank bullshit Marc.
Jews should all just convert to Christianity and lets end this Dark Ages religion for good. No, it doesn't work for them to become Muslim because its too close to Judaism as they share most of the same rituals.

>>518825122 (OP)
>30%
I'm name is Dick Turpin and his is high way robbery.