I thought that the economy was doing so well:
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What do they do with the repo’d cars?
Wendy
The finance company/banks sell them.
Interesting. People need wheels and can’t afford them. What do they do? Buy one and keep it as long as they can. Probably by squeezing on rent, food, and other creditors.
Then what? No surprise that food banks are seeing more who need food. Food stamps. Free lunch programs. Etc.
Hmmm… I wonder where all the money went.
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Wealth divide problem seems to imply billionaires got most of it. Or did it go to China in our trade imbalance?
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I think most end up at auction where dealerships bid for them, buy them, and then ship them to their used car lots to be sold to the public. A few, very few, get shipped overseas for sale elsewhere. Manheim is the biggest auction house and does more than 6 million vehicles a year!
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