Car Rent-Sangla Scam

[Wh1stl3r]

Repo'd cars are the worst non performing assets for banks. They sit for a long time and lose value quickly.

One repo'd car can potentially wipe out the earnings of several good car loans.

[yebo]

correct sir. it takes months before a bank can sell a repo car. there are legal matters there that need to be satisfied. ang alam ko dyan kahit na-repo na yung car may grace period pa din na prescribed ang law for the owner to redeem it. until such time the vehicle sits in their warehouses, depreciates and losses warranty due to non performance of required maintenance. then when the bank can finally legally sell the vehicle it has already depreciated. karamihan pa dyan hindi naman nabebenta agad and further depreciates. it is not uncommon for bank to sell their repo assets for only fractions of its book value just to turn it to cash.

[dr. d]

the banks are probably quaking in their boots.
who in his right mind, would buy a used, re-possessed car, and a for-rent one at that, at near brand-new payment scheme?
what i predict, is an even more stringent car loan screening program.

[uls]

Nasa news kanina isosoli daw sa mga may ari ang mga sasakyan

Kahit makuha uli ng mga 1st owner mga sasakyan nila as if naman kaya nila I-resume ang monthly payments wala na ung inaasahan nilang rental income

[kimbon]

Nasa news kanina isosoli daw sa mga may ari ang mga sasakyan

Kahit makuha uli ng mga 1st owner mga sasakyan nila as if naman kaya nila I-resume ang monthly payments wala na ung inaasahan nilang rental income

halos same situation yan sa mga investor nagloan sa bank for uber, grab etc.. noong una lucrative business pero nung nagsisulputan na ang ibang investors naging parang kabute na. maliban sa stiff competition, walang pang katapusang traffic in MM

[BratPAQ]

1800 na sasakyan ang Involved. I'm sure a lot of these 1st owners doesn't have the plans or means to pay for the monthly.

Saka 2007 pa pala yung modus. Bat hindi pumutok noon pa man? Wala bang nagsampa ng kaso sa pulis sa mga unang biktima.

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[dr. d]

1800 na sasakyan ang Involved. I'm sure a lot of these 1st owners doesn't have the plans or means to pay for the monthly.

Saka 2007 pa pala yung modus. Bat hindi pumutok noon pa man? Wala bang nagsampa ng kaso sa pulis sa mga unang biktima.

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may mga ayaw magsalita, dahil lalabas na na-denggoy sila.
it's human nature, po, that some of these scammers are relying on.

[kreme]

Let's assume marami pang sasakyan yung involved and malaking part ng total is marrepo, since marami ding mawawalan ng gana icontinue yung loan magkakaroon kaya ng good deals ang mga banks to quickly liquidate those depriciating assets? :D

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[uls]

I think galing sa mga bangko ang initiative to go look for the cars kaya kumilos ang law enforcement

Napansin siguro ng mga bangko padami ang delinquent na wala sa possession ng owner ang sasakyan

Individual car owners don't have the political clout to mobilize a law enforcement operation like that

[uls]

halos same situation yan sa mga investor nagloan sa bank for uber, grab etc.. noong una lucrative business pero nung nagsisulputan na ang ibang investors naging parang kabute na. maliban sa stiff competition, walang pang katapusang traffic in MM

Yeah dadami pa mga delinquent

Subprime car loans pinoy version

Dahil sa lax lending standard dumami ang sasakyan sa kalye