Ford is going to start giving new truck loans to sub-prime borrowers starting in October.
The average price for a new Ford truck is like 75000 dollars. (sticker)
A subprime loan for 80,000 plus dollars at 20 percent.![]()
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A 1900 dollar a month truck payment at 84 months.
Now might be a great time to go into the repo business. The default rates on those will be 90 percent plus. Guaranteed.
Good gravy, that's insane. Disaster in the making.