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Old 06-10-2017,
AndrewtBut AndrewtBut is offline
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Join Date: May 2017
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Default 2 Stocks to Sell Before the Next Financial Crisis

On Tuesday, I argued in this article that banks have officially lost it again
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Old 06-11-2017,
Andreyrok Andreyrok is offline
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They're lending people money that they never expect will be able to pay them back…
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Old 06-12-2017,
AndroidSFuh AndroidSFuh is offline
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all for a few percentage points of short-term returns.
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Old 06-14-2017,
Angelaodof Angelaodof is offline
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Near prime" (in yellow) are borrowers who have credit scores of less than 660. "Subprime" (in red) have scores below 600. Yet these two groups have received more new money to buy cars than any other.

Why would banks do this? Because these groups have to take whatever interest rates they can get. And banks are desperate.

Specifically, there are two lenders doing this more than anyone else. And if you know what's good for you, you'll steer clear of them.
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Old 06-15-2017,
AngeliaStr AngeliaStr is offline
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Santander Consumer has a bit of a meandering history -- going from a non-originator of auto loans working with individual banks to becoming a subsidiary of the enormous Spanish bank, Santander Group, then becoming private again and then going public. The important note from its history was in 2013, when it launched its Chrysler Capital group.

Think of Chrysler Capital as the equivalent of GMAC or Ford Financing. In other words, it is the primary lender to Chrysler customers. The difference is that Chrysler Capital (AKA Santander Consumer) is willing to take nearly any gamble to provide Chrysler customers with financing.

Santander Consumer is the leader in subprime auto loans. Of its total originations during its most recent quarter, 98% went toward auto loans. And about half of that was given to borrowers with sub 640 FICO scores.
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