? for finance smart guys

[KDM]

With all the folks leaving this country back into mexico, I noticed lots of them are leaving in cars and trucks. How many of these autos are still financed with a bank do you think? What impacts, if any, will tens of thousands or hundreds of thousands of car loans being defaulted on when these autos are in mexico and beyond US jurisdiction be? Thanks for the thoughts and opinions.

 

[SLE]

I'm not sure how an illegal gets a loan. TBH, every south of border person I've worked with are usually on a cash basis for payment. I'm guessing they paid for there stuff the same way.

My guess is it's not going to be much of an issue.

 

[Wall-eyes]

Very Interesting thought time will tell government gave them too much. If they have a job good for them. Banks are tight right now how they loan out money.

 

[Platinum]

If they came here illegally and didn't have a permanent address, social security number, and a proof of income/employment history working for a company they should not have a loan on a vehicle. Any financial institution that did give that person a loan has what is coming to them. Like already mentioned, it should be a "non-issue".

 

[Rowdie]

If they came here illegally and didn't have a permanent address, social security number, and a proof of income/employment history working for a company they should not have a loan on a vehicle. Any financial institution that did give that person a loan has what is coming to them. Like already mentioned, it should be a "non-issue".

Ya but it seems as though many have brand new expensive vehicles. They walked in and are driving out. Banks could take a big hit. They probably have gov't insured loans that will use tax $ to pay them in case of default. That's pure conjecture.

 

[Obi-Wan]

If they came here illegally and didn't have a permanent address, social security number, and a proof of income/employment history working for a company they should not have a loan on a vehicle. Any financial institution that did give that person a loan has what is coming to them. Like already mentioned, it should be a "non-issue".

Don’t kid yourself it took them a couple days to get SS# and a Nevada drivers license “ total legit “