ST Alpha - "Jack, automobiles depreciate, and banks have loans on them. They don't suddenly say "the $40k car you bought is now only worth $20k. We're changing " (Reading a Post)

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Jack, automobiles depreciate, and banks have loans on them. They don't suddenly say "the $40k car you bought is now only worth $20k. We're changing

Posted by JaxSean (aka JaxSean) Feb 20 '09, 13:58

your payments."

You sign a loan for 60 months, and you make your payments on time, the principle & interest terms don't change based on the value of the collateral.

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Jack, automobiles depreciate, and banks have loans on them. They don't suddenly say "the $40k car you bought is now only worth $20k. We're changing

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