Friday, February 15, 2008

A taste of things to come; the bailiff

Repo lots overflow with reclaimed cars

Good job Tony had all those new bailiff laws passed just before he left. Wonder why eh ? "The rise of bad loans, however, has meant busy times for "repo men," whose work can involve seizing cars from driveways in the dead of the night."

Posted by doomwatch @ 04:39 PM (661 views)
Please complete the required fields.

2 thoughts on “A taste of things to come; the bailiff

  • Destructive asset depreciation. What part is this ?

    Please complete the required fields.

  • Fascinating. Actually when I first read of the shenanigans of new-build BTL my first thought was of car salesman and their oversized calculators, talking about ‘price to change’ and ‘balloon’ payments when they want to shovel you into a car with a deal no sane person would go for, not to make a profit on the car per se but to collect an incentive payment from the car company.

    Buy any new car (other than something like Morgan with a 2 year waiting list) and you are into negative equity before you even start. Add in dealer incentives, 0% finance, balloon payments, competition from car fleets who bought at heavy discounts and sell on at 5,000 miles to car supermarkets, and buying new is a total mug’s game in fact mostpeople in the UK know this just fine – 70% of UK new car sales are company cars, mostly business leases).

    Of course in America they don’t do things by halves … Detroit is essentially bankrupt (Hence Daimler Benz’s abrupt exit) so it’s no surprise a whole lot of mugs .. sorry, innocent car buyers … have been caught in its death-throes.

    Please complete the required fields.

Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>