"A New Kind Of Hybrid": The Terrifying New Way Disadvantaged People Are Buying Cars

It was halfway down an email that was anonymously forwarded to me a few weeks ago, buried between torpid paragraphs grown thick and encrusted with the deliberately Byzantine language of Wall Street analysis. And it said something like this:

In Detroit, Michigan thus far in 2017, nearly one in eight of all available civil lawsuits filed in the city involve (this firm) suing borrowers. Overall, 72% of these lawsuits resulted in the company garnishing the wages or tax refunds of borrowers. In essence, the company is a new kind of hybrid: a debt collector that originates its own loans — a combination that has proved extraordinarily profitable for investors as the business of lending to troubled borrowers has surged since the financial crisis.

A debt collector that originates its own loans, generating more than 10 percent of all civil lawsuits in Detroit. Something wicked this way comes.

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  • VoGhost We're not going back.
  • Clive Most 400 series highways in Canada were designed for 70 MPH using 70 year old cars. The modern cars brake, handle, ride better, and have much better tyres. If people would leave a 2-3 second gap and move to the right when cruising leaving the passing lanes open there would be much better traffic flow. The 401 was designed for a certain amount of traffic units; somewhere in the 300,000 range (1 car = 1 unit 1 semi+trailer =4 units) and was over the limit a few minutes after the 1964 official opening. What most places really need is better transit systems and better city designs to reduce the need for vehicle travel.
  • Kira Interesting article but you guys obviously are in desperate need of an editor and I’d be happy to do the job. Keep in mind that automotive companies continually patent new technologies they’ve researched yet have no intention of developing at the time. Part of it is to defend against competitors, some is a “just in case” measure, and some is to pad resumes of the engineers.
  • Jalop1991 Eh?
  • EBFlex Wow Canada actually doing something decent for a change. What a concept.