Hypothetical question
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Hypothetical question
Let me pose a situation. Let's say that a bank was going to reposses a car. Now let's say that said owner had two cars of more or less the same model. If the owner, seeing the repossesion coming, were to swap engines, shocks and various other 'non-visible' items would that be unethical or just plain shrewd?
--Scott--
1991 - Rio Red SS
1991 - Rio Red SS
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I'd call it smart as long as no one found out. Strip it.
-Mike
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If caught, probably charged with theft.....
Just think, if you happen to have purchased a NEW car and did this, and they repossessed it and it was obviously messed with, I doubt they would consider you "even" with the bank. So even if it is an older car, I would skip this idea.
I know if someone who did this with a wrecked STI, swapped over EVERYTHING from a FWD imprezza. Lets just say he finally made the right decision and told the insurance company just before they figured it out.....
Just think, if you happen to have purchased a NEW car and did this, and they repossessed it and it was obviously messed with, I doubt they would consider you "even" with the bank. So even if it is an older car, I would skip this idea.
I know if someone who did this with a wrecked STI, swapped over EVERYTHING from a FWD imprezza. Lets just say he finally made the right decision and told the insurance company just before they figured it out.....
Last edited by douglas vincent on Mon Feb 20, 2006 4:17 am, edited 1 time in total.
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1990 wagon, EJ25 12.3 @ 116.5 FAST Family wagon getting new motor soon
1992 wagon, wifes daily, high compression
1992 Touring wagon, should I keep it?
1990 wagon, EJ25 12.3 @ 116.5 FAST Family wagon getting new motor soon
1992 wagon, wifes daily, high compression
1992 Touring wagon, should I keep it?
It's not always possible to sell the car... if you owe more than it's worth, you can't get rid of it because you have to pay the loan off to get the title.
It really kind of depends on how different the cars actually are. For instance, if it was actually the same make and model and just swapping the new stuff for the old stuff, that's virtually foolproof. If it's the same make but different model (or newer generation or something), so it still says "Subaru" or something on the engine, it's VERY unlikely anyone would know enough to notice the difference. If it's a totally different type, not worth it.
Of course these are all general ideas, since there are no actual cars in the picture, and so no details.
It really kind of depends on how different the cars actually are. For instance, if it was actually the same make and model and just swapping the new stuff for the old stuff, that's virtually foolproof. If it's the same make but different model (or newer generation or something), so it still says "Subaru" or something on the engine, it's VERY unlikely anyone would know enough to notice the difference. If it's a totally different type, not worth it.
Of course these are all general ideas, since there are no actual cars in the picture, and so no details.
~Joel
1991 Legacy LSi sedan | 1990 Legacy L wagon
1991 Legacy LSi sedan | 1990 Legacy L wagon
the repo man will only be smart enough to look at the VIN number plate to make sure it matches the order he has to do the repo, he isnt going to know what parts are or are not supposed to be on the car. He would care less, as long as he has the right chassis.
Hell, throw in a blown motor from a junkyard car, and you will have yourself a backup motor. throw on some junkyard rims, tires,etc etc on the one he is re-poing. etc etc. grab the ECU, get the fuel pump, and then you will even have some spare parts for down the road. Might want to leave the battery there, so at least it cranks over the blown motor, lol.
Hell, throw in a blown motor from a junkyard car, and you will have yourself a backup motor. throw on some junkyard rims, tires,etc etc on the one he is re-poing. etc etc. grab the ECU, get the fuel pump, and then you will even have some spare parts for down the road. Might want to leave the battery there, so at least it cranks over the blown motor, lol.
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91crx si 165k
91 Civic RT4WD manual trans 168k
91crx Si 40.5k
85 BRAT Gl 140
97 SVX 74k
If you have TWO cars, sell the other one and use it to make your payments on the one getting repo'd. Having a repossion on your credit is no joke.jnorion wrote:It's not always possible to sell the car... if you owe more than it's worth, you can't get rid of it because you have to pay the loan off to get the title.
I doubt the repo man would notice and if it was small things, the bank probably wouldn't either. If you are gonna swap things like a motor, I dunno that I would risk defrauding a bank on top of defaulting on a loan. Of course this is all hypothetical.
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I agree. Repo man doesn't care and the bank will just dump an ancient car like that to auction. Plenty of people blow their cars if they know they're going to get repo'd. A guy I know did that for a while and he said they always brought a tow truck for that reason. Of course, this was NY/NJ area. Probably costs them more to repo it than it's worth. I'm not sure I'd actually do this myself since it's too much like stealing to me, but that's the pussy little conscience inside and I try not to listen to him, so to be safe I haven't defaulted any loans (or taken many). But whatever this theoretical person does is their thing and if their conscience doesn't bother them, go for it. Banks are basically legal organized crime anyway.
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When the repossesion people come, they only confirm the VIN and take it away. After that, if it is a 91 or 93, it will usually go to auction to try and regain the lost money. As long as the car has an engine, tranny, etc, I don't think anyone will bother complaining.
Technically it is still your car until they repossess it, so it is a grey area of theft(if you do take the parts and replace them with other Subaru parts).
So (taking parts from it and replacing it with other lesser parts) will probably not be noticed.
Your credit will be toast for quite awhile, so maybe you might want to get what you can out of it.
As for screwing the "man", well, you don't want to hear my opinion on this as many other people here have voiced the opposite opinion.
Technically it is still your car until they repossess it, so it is a grey area of theft(if you do take the parts and replace them with other Subaru parts).
So (taking parts from it and replacing it with other lesser parts) will probably not be noticed.
Your credit will be toast for quite awhile, so maybe you might want to get what you can out of it.
As for screwing the "man", well, you don't want to hear my opinion on this as many other people here have voiced the opposite opinion.
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No you can't have one
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It's your attitude that makes our insurance/loan premiums so high!206er wrote:anything that you can do to screw an insurance company or bank and get away with it, do it.
Thanks a lot bud...
Nick
1987 Audi 4000CS quattro...soon to be 20VT
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But it's how the banks and insurance companies operate that causes honest hardworking people to think like that - as far as I'm concerned, they deserve it and furthermore have asked for it.
-Chris
91SS 4EAT stock
91SS 5MT awaiting engine rebuild and VF36...
92SS 4EAT - RIP
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91SS 4EAT stock
91SS 5MT awaiting engine rebuild and VF36...
92SS 4EAT - RIP
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When a bank contracts to lend a buyer the money to buy a car the buyer's side of the deal is to pay it back with interest. The specific car is the collateral on the loan.
Rather than doing all the work to change the engine, why not find a way to keep up the payments?
Shouldn't this thread go in the subheading---Cashtray --
Rather than doing all the work to change the engine, why not find a way to keep up the payments?
Shouldn't this thread go in the subheading---Cashtray --
Subtle (normally aspirated engines suck):
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05 Legacy GT Wagon with Cobb chip.
62 Alfa Romeo Spider- had a 1.6 L with 80 hp, now 2 L with 160 torque. Curb weight 2050 lbs.
93 Leg Twgn fmic, vf34, etc. ((sold))
how much could you possibly owe on a 91 or even a 93 legacy? shit at a minimum you could put the amount on a credit card although its not a great idea at leaste its better than a repo on your credit history like someone else said.
-Mike
2011 Infiniti G37x Sedan - Current
2007 Ducati 800ss - Current
1994 Subaru Legacy Sport Wagon (White)
1994 Subaru Legacy Sport Wagon (Silver)
2003 Infiniri G35
1998 Infiniti I30t
1995 Honda Civic DX
1987 Subaru GL Wagon
1987 Subaru Loyale
2011 Infiniti G37x Sedan - Current
2007 Ducati 800ss - Current
1994 Subaru Legacy Sport Wagon (White)
1994 Subaru Legacy Sport Wagon (Silver)
2003 Infiniri G35
1998 Infiniti I30t
1995 Honda Civic DX
1987 Subaru GL Wagon
1987 Subaru Loyale
I know all of this. I was just asking out of curiousity. If I were to lose my job suddenly, which could easily happen, I need to be prepared for the worst. I owe around a grand on my car. I paid a pretty penny for it. In hindsight I could have talked him down but because the car was in what seemed to be good condition I bit on the offer.
--Scott--
1991 - Rio Red SS
1991 - Rio Red SS
How so? You agree to the terms of any loan you take out. If you don't like it, don't take the loan.free5ty1e wrote:But it's how the banks and insurance companies operate that causes honest hardworking people to think like that - as far as I'm concerned, they deserve it and furthermore have asked for it.
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First of all, many banks do scam people and some of the things they do are very shady regarding holding monies and not creditng your account in a timely manner. But, yes, you do agree to the terms of a loan when you take it out, it doesn't go much beyond that. As a side note, many banks are run by some of the greediest people around. They sometimes act arrogant and standoffish because, after all, if you didn't need them they wouldn't be there so they tend to act like they own you which in many ways they do. At least, they own the coin of the realm. Something that bugs me is how banks inject themselves commercially into the public mind, like the Wachovia half time show in the super bowl or the Sovereign stadium but that 's another story and it's off topic.
--Scott--
1991 - Rio Red SS
1991 - Rio Red SS
any time.555BCTurbo wrote:It's your attitude that makes our insurance/loan premiums so high!206er wrote:anything that you can do to screw an insurance company or bank and get away with it, do it.
Thanks a lot bud...
they are out to screw us, why not return the favor.
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^^^ that's what I'm saying.
Sometimes, it's not that you want to get a loan, it's that you need to get a loan. The banks kind of have you over a barrel when you need something, since they all cooperate and play by the same rules. The only exceptions are maybe the credit unions, which are a bit more fair and equitable.
Besides, would the bank appreciate the functioning parts in the car more, or someone who loves Subarus?
Sometimes, it's not that you want to get a loan, it's that you need to get a loan. The banks kind of have you over a barrel when you need something, since they all cooperate and play by the same rules. The only exceptions are maybe the credit unions, which are a bit more fair and equitable.
Besides, would the bank appreciate the functioning parts in the car more, or someone who loves Subarus?
-Chris
91SS 4EAT stock
91SS 5MT awaiting engine rebuild and VF36...
92SS 4EAT - RIP
94SS 5MT4.11+rLSD 289k km: RobTune550,TD05-16g @ 18psi,FMIC,3"TBE,Forester lift
91SS 4EAT stock
91SS 5MT awaiting engine rebuild and VF36...
92SS 4EAT - RIP
94SS 5MT4.11+rLSD 289k km: RobTune550,TD05-16g @ 18psi,FMIC,3"TBE,Forester lift