Because a 100% loss is better than recouping some of your money. Srsly dude, wtf.
Yes it is. Because they get 100% of the sale price, not cost, from taxpayer kick backs.
You're saying the government will give the banks 100% of the sale price when they destroy a reposed car?
What they do with them isn't privy to me or most people. A lot sit in yards for years and years and years. A lot get pieced for "brand new" "top of the line" "no damage" etc. insurance parts. The banks won't get it, why would banks? The car manufacturer will. Car dealerships get no sweet deals like this. When they buy inventory and it doesn't sell - that's where your auctioned cars come from. Manufacturers on the other hand.
I don't think you understand how automobile markets work.
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