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Credit is for poor people.so he rather mess up his credit rather then just take the car back?
Kendall Wright Has BM’s Car Repoed After She Sues For Child Support
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Credit is for poor people. Most people making 7 milli/year could give a fukk about a credit score.
Salary isn't factored into his credit score
Why is he paying a car note then? Obviously he is financing some shyt.
Field Marshall Bradley
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When you're attempting to use credit, or finance a big purchase, your salary is indeed taking into heavy consideration.......
Field Marshall Bradley
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For this exact moment...... and the article just says it was repo'd, he may have told the dealer to come get it and he'd flip it to something else
YES....
Bad credit will hit a millionaire much harder than it would any of us. If he's paying a car note then he's clearly not paying cash for everything, so yes his credit plays a factor. If a lender sees a dude with that much money and bad credit wants to finance something its almost a guarantee they will rape him.
Nah, wealthy people don't use their personal credit for anything. I'm sure he used a business line of credit from an LLC. He could have easily bought this $40k car cash and got the clear title. They get a car note on purpose for the situation he's in now. $40k is nothing to him. It's easier for the repo man to snatch the car away than for him to get it back on his own (even if it's in his name).Plus, if you have money you can easily rebuild your credit score. Credit is for people who need to borrow money. If he's smart, or if he has a good money manager, he'll never need to borrow a single dollar with his own personal credit.
richaveli83
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$2,100 a month and he's a pro athlete?! Dude got lucky compared to his fellow NBA, NFL, etc players who pay huge amounts in child support.
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He's probably a moron. Someone with his money should have bought that car cash from the lot. A Cadillac CTS 2-3 years old, full loaded can be had for 30K.
That being said even if he defaults on this loan, his credit score won't prevent him from doing business if he has millions in the bank.
so he rather mess up his credit rather then just take the car back?
This. That old saying about cutting one's nose to spite their face comes to mind. Mister Number One Reliever for the Tennessee Titans who's only paying $2100 in child support............
duckbutta
eienaar van mans
Because men will always want to pay less
And women will always want to get more
Only people with no real money, assets or financial acumen believes this nonsense.
5 Ways Rich People Use Credit
Many people think the rich don't borrow money, but the truth is quite the opposite. The difference is in what they borrow money for.
"According to a recent survey by Bank of America's U.S. Trust, wealthy Americans aren't afraid to borrow money. In fact, half of "very wealthy" households with more than $10
million in invest-able assets have more than 10% of their balance sheets in borrowed money."
5 Ways Rich People Use Credit -- The Motley Fool