<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>wbracken</author><text>Tangentially in the business. Two recent stories told to me:&lt;p&gt;1) Saw at Manheim Auto Auction (one of the largest) 300 Nissan Leafs run through the auction line in one afternoon ahead of some of our cars. Drop in &amp;quot;value&amp;quot; of leafs went down 10%+ in one day. All were recently off lease.
2) For similar reason, Santander is holding 4000+ cars on auction lots &amp;quot;waiting for pricing to stabilize&amp;quot;. Reality is, when they run those cars through the auction, they will have to book the full losses. Say they anticipated 20% repossession rate and that they would get 80% on the dollar when auctioned on those losses. When they run them through now and get 50% on the dollar, their securitization pools will be creamed.</text><parent_chain></parent_chain></comment><story><title>A glut has used-car depreciation accelerating</title><url>https://www.bloomberg.com/news/articles/2017-08-21/your-car-is-now-worth-less-than-you-think</url></story>
<instructions>Your goal is to analyze the following comment and estimate how highly it will be upvoted by the Hacker News community.</instructions><comment><author>beejiu</author><text>In the UK, many cars sold in the past few years are under a so-called Personal Contract Plan (PCP). These are basically sub-prime loans for cars where you lease the car for the difference between its purchase price and its projected depreciated value at the end of the term.&lt;p&gt;&lt;a href=&quot;https:&amp;#x2F;&amp;#x2F;www.theguardian.com&amp;#x2F;business&amp;#x2F;2017&amp;#x2F;jun&amp;#x2F;10&amp;#x2F;car-loans-personal-contract-plans-vehicle-financial-crisis-pcp&quot; rel=&quot;nofollow&quot;&gt;https:&amp;#x2F;&amp;#x2F;www.theguardian.com&amp;#x2F;business&amp;#x2F;2017&amp;#x2F;jun&amp;#x2F;10&amp;#x2F;car-loans-p...&lt;/a&gt;&lt;p&gt;One of the UK regulators recently warned about the exposure to these loans. &amp;quot;An initial fall in prices
could lead to a surplus of used cars coming to the market, which could further weaken prices and
cause material losses to lenders through their GFV risk.&amp;quot; (&lt;a href=&quot;http:&amp;#x2F;&amp;#x2F;www.bankofengland.co.uk&amp;#x2F;pra&amp;#x2F;Documents&amp;#x2F;publications&amp;#x2F;reports&amp;#x2F;prastatement0717.pdf&quot; rel=&quot;nofollow&quot;&gt;http:&amp;#x2F;&amp;#x2F;www.bankofengland.co.uk&amp;#x2F;pra&amp;#x2F;Documents&amp;#x2F;publications&amp;#x2F;re...&lt;/a&gt;)</text><parent_chain></parent_chain></comment><story><title>A glut has used-car depreciation accelerating</title><url>https://www.bloomberg.com/news/articles/2017-08-21/your-car-is-now-worth-less-than-you-think</url></story>