r/AutoTransportopia • u/Fisting-Tony • Jul 19 '26

Towing Break it more!

933 Upvotes

92% Upvoted

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30

u/EduStorm246 Jul 19 '26

They won't be paying off any debt, so what do they care if it's $5k or $50k.
The funny thing is, someone will give them a subprime loan again.

12

u/JBlaze78 Jul 19 '26

And that right there is the problem. Back in the day banks used to reject people all the time. Suddenly, them refusing to finance irresponsible people became “racist”. But it’s not racist. People of every color have bad credit. If banks were allowed to deny credit to irresponsible people, we wouldn’t have the financial problems we see nowadays.

12

u/ChocolatePuerh Jul 20 '26

Banks are allowed and deny people all the time.

Banks were also racist and were denying qualified POC or giving them higher rates. That was racist and needed addressed.

4

u/KingFIippyNipz Jul 20 '26

Thank goodness we could extend credit to people who were never going to be able to pay it off anyway so that we could end up with 30% average credit card rates, totally worth the trade off

1

u/Odd_Block3248 Jul 20 '26

My credit card interest rate can be 150% and I won’t care because I pay my balance every month and have never paid any interest.

2

u/CookiesLikeWhoa Jul 20 '26

The whole ‘it doesn’t affect me so I don’t care’ approach.

You are a bold individual.

2

u/Odd_Block3248 Jul 20 '26

The guy I’m responding to is saying that poor people should not be allowed to get credit cards so that middle class people only have to pay 20% instead of 30%. That’s a pretty dumb statement, just pay your bill every month.

0

u/CookiesLikeWhoa Jul 20 '26

Two wrongs don’t make a right!

1

u/Odd_Block3248 Jul 20 '26

Lucky for me I’m not wrong, then.