'The Car Was Repossessed, but the Debt Remains'


#121

Every time I see this discussion, I wish it was "The Car Was Possessed…"
Would be a lot more exciting!
:smiling_imp:


#122

It was! Now it’s being possessed, all over, again. :skull:


#123

I think cdaquila is dropping a few hints…


#124

Okay, let’s bring it back to cars

Remember this movie?

I believe this is from the period, where the public still remembered him as a child star, but wasn’t quite sure if he was going to be a major star as an adult

I also like the later part of the movie, where he scrambles to get all those “fine used automobiles” to the lot by the deadline


#126

Hi. For transparency’s sake, a user flagged this comment for being off-topic. I agreed with it, because I had already given a gentle reminder to keep it car-related, and I hang around here enough to recognize the stuff that causes 40-comment pile-ups of flaming thread wreckage. :slightly_smiling_face:


#127

We are of one mind on this. I had already chosen to ignore it.


#128

I tried to do Carolyn’s bidding and bring it back to cars . . . one of Kurt Russell’s early “classics” no less

Does anybody remember the movie in any detail?

Was Kurt Russell merely a used car dealer selling vehicles which were in “fine condition” . . . or was he some kind of a “buy here pay here” dealer?

In any case, I don’t remember the movie mentioning the financing side of the business


#129

Gee go away for a few days. Back to semi cars. Remember the twilight zone (I think) where the owner of the old car had to tell the truth? The used car dealer finally sold it to kruschev at the end.


#130

@db4690, I remember the movie Used Cars very well. Russell was just a sleazy car salesman selling a lot of clunkers and also running for Congress on a platform of honesty. There was never any mention of financing that I can remember.

Rolling back odometers, sticking bumpers on with chewing gum, and so on was the norm.

The major premise of the movie was the war between the 2 Fuchs brothers; each with a lot located across the street from each other.


#131

Thanks for filling me in on the details

It’s one of those almost forgotten movies which hardly ever gets even shown on ANY channel

I believe there was a part in the movie where he was spraying a can labeled “new car smell” :smiley:


#132

That’s the point. The dishonest deals end up costing the borrower much more than the cost of the car. My proposal would limit liability to costs+ROI, not unlimited.

Quoth https://en.wikipedia.org/wiki/GAP_insurance

Exclusions to GAP insurance vary by country or state. Some exclusions include a maximum loss limit of $50,000 while others require a loan term of less than 84 months. GAP is an optional purchase; however, many states in the US require that a car dealership offer GAP at the point of purchase. Other states require insurers to offer GAP if a client requests it. States such as Louisiana require that the purchaser sign a disclosure document as proof. Although GAP is optional, some finance companies require GAP as a condition to obtaining a loan.

#133

Exactly what I said, they cannot make you buy gap insurance. Of course they offer it and at ridiculously inflated prices to ignorant consumers as another way to make a windfall profit. But the point was originally that dealers/lenders cannot force a buyer to purchase gap insurance (which would cover some of their losses if the buyer fails to meet the contract obligations).