Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Get this... You can take out "second mortgage" loan on your car!

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread		 This topic is archived.
Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU
 
CoffeeCat Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-12-05 11:43 PM
Original message
Get this... You can take out "second mortgage" loan on your car!
Edited on Sat Mar-12-05 11:44 PM by TwoSparkles
My husband and I have seen this commercial twice today.

We found it pretty absurd.

A company is advertising a service. If you hand over the title to your car, they will lend you the amount of money that you have invested (paid off) in your car. When you pay off the loan, you get your title back.

So come on America! If you all ready have a 2nd or 3rd mortgage on your house--don't fret! Now, you can also take out a "second mortgage" on your Dodge Caravan.

Is this country credit crazy or what?

I don't know what is worse--companies that encourage gross irresponsibly or the people making these irresponsible decisions.
Printer Friendly | Permalink |  | Top
coloradodem2005 Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-12-05 11:47 PM
Response to Original message
1. Whooptie frickin' Do!!!!!
They just pass a bankruptcy bill, which is hypocritical when you consider that everyone is always telling you to grab something that would be ill advised to grab considering the state of one's finances most of the time. So, people rack up debt and have no way out.
Printer Friendly | Permalink |  | Top
 
proud2BlibKansan Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-12-05 11:49 PM
Response to Original message
2. This has been available for some time now
What they don't advertise is the interest rate on these car mortgages.
Printer Friendly | Permalink |  | Top
 
Poppyseedman Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-12-05 11:49 PM
Response to Original message
3. Just proves P.T. Barnum was right
sucker born every minute
Printer Friendly | Permalink |  | Top
 
Enquiringkitty Donating Member (721 posts) Send PM | Profile | Ignore Sun Mar-13-05 12:56 AM
Response to Original message
4. We have two of those in town now. The interest is very high at our two
business'. From the look of the re-sale lot, many people have lost their cars. If you move out of state and keep paying the notes, they can still come get the car because you didn't get written permission to take the car with you.

Sounds weird to me....a car as real property like land.
So will we, one day, be able to trade in one piece of land for another like we do with cars?
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view this author's profile Click to add this author to your buddy list Click to add this author to your Ignore list Sat May 04th 2024, 02:15 AM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC