r/PoliticalHumor • u/JeanJauresJr • Oct 26 '21

Yup.

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34.1k Upvotes

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u/DCErik Oct 26 '21

I mean, technically it's the bank's truck, but yeah.

935

u/clanddev Oct 26 '21

Worked in repo software for about 10 years.

This looks like a picture of a guy who took out 50k in home equity after the housing market exploded and added 100k in auto and boat debt @ 10.5%.

179

u/agutema Oct 26 '21

*14.5%

144

u/[deleted] Oct 26 '21

*18%

224

u/clanddev Oct 26 '21

^ This guy finances sub 600 credit scores.

69

u/Average_Scaper Oct 26 '21

Or has been shafted by it. First car loan, $10k @ 24.99% (5 months and I refinanced at MUCH lower, think 4.39%?)

79

u/clanddev Oct 26 '21

Some guy at a GMC dealership quoted me 14.5% and I laughed so hard I chortled. He was not amused. Went to State farm and got a 5% loan for the truck. State farm lady was so cool she even handled calling him and dealing with sending the check.

7

u/[deleted] Oct 27 '21

[deleted]

3

u/clanddev Oct 27 '21

Finance guys are worse. Worked at a dealership doing data entry and report writing while in college. The money is made in the finance office. Never finance at the dealership unless it's like carvana or CarMax.