Something the media doesn't report on. But I work at FMCC and the defaults and repos are off the chart. Even higher than 2008.
This usually results in a significant downturn in auto sales. Which doesn't bode well for the second half of the year.
This will result in layoffs (both salaried AND hourly) and plant closures. This has been building since 3rd quarter of 2024, by the way.
I’ve seen reports about this for the industry in general, not specifically about Ford. So I would assume repos for Ford are up too until I see something more verifiable that tells me they are not.
The liar saying that this is not true is the liar.
Do Repo men get paid well? As a prospective Repo Man, are you allowed to be armed to protect yourself?
@py+1jrtcrqa2
decent chance many of them are stolen. You see these cars often doing the swimming or cutting up trends, or at takeovers/street racing. I could give more context, but you might already get the gist of what demographic I am referring to know that "payment" might be doubtful for these mustangs.
@w6+1jrtcrqa2 put this same passion you put into disclaiming things towards uncovering truths in your house that you buried in a closet of skeletons so you can focus on bigger issues. You’re disclaiming small things, do the same for the big things
I say again they are not at all time highs please stop lying on this board.
People buying cars they can't afford. Govt printing, spending, laundering money it cant afford.
Wild times!
They are not at all time high for Ford. Stop posting lies.
@j5+1jrtcrqa2 have your seen Mustang sales figures lately? No one is buying them, group source or not.
Reminds me of all those reels where kids will group source pay for a mustang/corvette/charger/challenger until one of them can’t pay or one doesn’t give up the car when it’s not their turn anymore so the friend group falls apart, so payment doesn’t get made.
Well the article says defaults are higher than 2008, but not repos.
Still not good but let's stick to the truth.
For the scoffers.
https://autos.yahoo.com/car-repossessions-skyrocketing-143000237.html
Same stuff. People buying cars they can't afford.
did you look at credit card debt
@bq+1jrtcrqa2 has his head in the sand.
C'mon man...... that's click bait. Hardly anything Autoline Detroit has reported.
Just ChatGPT' d this and it said that repos are at their highest level since 2008. Maybe the original poster knows more, but regardless of if it's more than 2008 or highest since, it is not good.
Guys, he ain't lying
https://www.dailydot.com/news/bank-of-america-repo-lot/
So there ought to be some great deals on repo'ed cars and trucks?
I’ve seen reports of this in business media. I think one was ZeroHedge.
But now people IN Ford’s lending arm are now reporting it.
Source?
These things will happen.................