00:00If you're borrowing on a car, you're putting a low down payment, you're financing it over 84 months, you are never going to own that automobile and you're never gonna be able to build wealth.
00:08I talked to a guy who runs a car dealership and he says the way he structures it, because some of these spires are very high risk.
00:14There's a large percentage of them that can make the first few payments and then they stop.
00:18So the way he said he structures it is by making payments due every other week.
00:23So if they default, you'll know after the two weeks and it's an easy repossession after that point.
00:30They're paying fees up front just to get the loans so that even if they repossess the car, they get their money.
00:36They're still made money, yep.
Comments