CAMARO6 - View Single Post - Curious.. Whats your income VS the cost of your car? Are you splurging?

DenverTaco07 · 12-11-2016, 09:36 PM

It's all just symantics...everyone is right...you are a car owner even if you finance it...and yes, if you stop making payments it will no longer be your car, nobody is saying otherwise.

If a guy who is financing a car gets the compliment "hey dude, is that yours? nice ride", should the response be "it's my banks's ride, but thanks."

Oh, and another thing...i'm not sure of as i've never not paid a bill, but let's say you owe 10k on a car worth 20k, and lose your job and stop making payments...does the bank get to keep the equity...

I doubt it.

12-11-2016, 09:36 PM	#296
DenverTaco07 Drives: 2017 SS 1LE, 2017 Volt, 2013 Pilot Join Date: May 2014 Location: Colorado Posts: 4,274	It's all just symantics...everyone is right...you are a car owner even if you finance it...and yes, if you stop making payments it will no longer be your car, nobody is saying otherwise. If a guy who is financing a car gets the compliment "hey dude, is that yours? nice ride", should the response be "it's my banks's ride, but thanks." Oh, and another thing...i'm not sure of as i've never not paid a bill, but let's say you owe 10k on a car worth 20k, and lose your job and stop making payments...does the bank get to keep the equity... I doubt it. Last edited by DenverTaco07; 12-11-2016 at 09:53 PM.