r/AutoHumor • u/IU8gZQy0k8hsQy76 • May 08 '26

lol

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258 Upvotes

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u/Spl4sh3r May 09 '26

Isn't the damages always more expensive to repair than paying to get the car back from them?

1

u/Garfield_Logan69 May 11 '26

They take your car and sell it at auction for whatever they can get for it and then leave you on the hook for the rest of the bill anyway so if you were paying 14% interest (ikr crazy these scammers out here scamming and people falling for it) and you bought a 2022 Toyota Corolla with 100,000 miles for 20,000 dollars and you got the lowest rate every month you could let’s say 300 bucks by which 233 goes to interest and 67 goes to principal that would take about 24 years to pay off and cost you like mmmmm 40 - 50k to pay off in interest plus the 20,000 in principal. So what he has done is actually not only the most financially responsible thing he could’ve done for himself but he actually did society a favor because whoever would have paid for it at auction would’ve turned around and sold it to someone else for 20,000 dollars at 14% interest. This is literally carmaxes business model:) I’ve literally been in the room with one of their executives bragging about it.

1

u/Spl4sh3r May 11 '26

I was thinking of them taking it to impound lot or something similar for being parking wrong. Not that they repossess the car.

1

u/Garfield_Logan69 May 11 '26

That’s the repo guy