A way to Finance Our Vehicles?

Jeannetta Gaffigan: in essence, there are only the usual auto finance companies and banks in this business, unless you start your own such company.in the old days, that wasn't a problem because all of the banks were competing to get your business.today, i'd say it likely is impossible. For one thing, every banker out there knows that if the total sale, including TTL, is 10k, then if they had to repo the vehicle it wouldn't wholesale for more than about 7,000 -- maybe, if that much.And they aren't going to extend that type of risky credit to the sort of people who buy 10k used cars without at least 20 or 25 percent cash down. The risks are too high for too little return.***If you do decide to start your own finance company to do this, be sure to look into combination controlled kill switches so that someone who fails to make their payments can't use the vehicle. As you're likely well aware, "no pay, no go" devices actually do get people to make their payments.GL...Show ! more