i provide financing for people with bad credit , it seems like they never learn ,they do not make the car payments and i have to repo the car , and they lose their money . i do not want to repo any more cars ,what can i do to help these people
2007-03-12 12:12:32 · 7 answers · asked by CLIP 1 in Cars & Transportation ➔ Buying & Selling
First I think your as phony as a 3 dollar bill pretending to be a dealer///
Second if you really were a dealer which your not, you would continue making mega bucks and not wasting your time with people that want answers in this forum...
Grow up get a life ...give us the name of your dealership.??? bet you cant...
2007-03-12 12:40:15 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Are you in the business of helping people, or are you in the business of making money?
If you want to help people, go donate to a charity or something. It's much simpler and easier, and you can write it off your taxes.
Deadbeats are a risk you take when you loan money to people with bad credit. You can eat the loss and consider that a "donation", and not go after the deadbeats. However, IMHO, that'll just encourage them to do it some more. And one day someone will come down so hard on them they'll never recover (such as going to jail, get deported, or worse).
You can give them an extension, but demand a partial payment as demonstration of "goodwill" (i.e. they pay what they can) and perhaps check with their pastor or neighbors on how badly off their situation really is... if you want to check that far. But do you have the time to check into your client's welfare when he's NOT a paying client? And again, are you in the welfare business or the money-making business?
2007-03-12 19:28:05 · answer #2 · answered by Kasey C 7 · 0⤊ 0⤋
You must not be very good or you'd have the answer to this already. When a situation like this occurs, you hire a PROFESSIONAL repo man instead of sending in your own people. Also, not financing people with bad credit would prevent this situation all together.
2007-03-12 19:17:20 · answer #3 · answered by HULK RULES!! 7 · 0⤊ 0⤋
Why did you think they had bad credit to begin with? Because they were upstanding citizens who had a small run of bad luck?
Stop offering financing to people with bad credit. If you don't want to do the repossessions on your own, call the local tow company and see what kind of help you can get from them, them give them a list of the vehicles you're looking for. They can probably set everything up for you including the auction to sell them off.
2007-03-12 19:19:56 · answer #4 · answered by oklatom 7 · 0⤊ 0⤋
stop helping them !
So you are a used car dealer or are you a credit company ?
Make your mind up !!
sell your cars and be a car seller - use a credit agency to provide the credit - then the risk is all theirs - they pay you and take up the debt end of story
As my good old Mum Said - deal with poor people they will make you poorer !
2007-03-12 19:21:56 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Used car dealer = scum. When you deal with the low-lifes with rotten credit you get what you deserve.
2007-03-12 20:08:52 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if they lose their money and ride to bad. but keep helping people. I had really good credit I could buy anything I wanted.but ran into some bad luck. all people are not bad.
2007-03-12 19:36:45 · answer #7 · answered by big b 1 · 0⤊ 0⤋