About the number of new cars that will be repoed in the next few months, or year or so, out of the ones sold under the C4C (cash for clunkers) program that we have gone thru in the last couple of months?
It would seem that a lot of people, who were driving a multi-year old gas guzzler, who were lead to believe that the gas savings would 'almost' make the payments, will be walking, or wishing they had their clunker back. Saw today in an article that the average new car payment will be $371 a month for 49 months. (I know they don't make 49 month loans, that is just how the average worked, since many were for 72 month loans. In an economy where many are struggling to keep a roof over their heads, and food on the table, I can see the repo business being a good job to be looking at, if one is looking. (Not a fun job, or without a certain amount of risk, you understand, but perhaps one without many layoffs in the coming months.)
But then again, with the blessing of Obamessiah, how can it lose???
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