Rapper Young Bucks Cadillac Escalade being repossessed
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Posted On :
Apr-12-2011
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Article Word Count :
442
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G-Unit rapper Young Buck has had his Cadillac repossessed. Here's an overview of the financial troubles that Young Buck has been plagued with recently.
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Cadillac owner and rapper Young Buck may be facing serious consequences for a recent arrest. After he was charged with possessing a firearm and ammunition (illegal under U.S. law due to a previous felony charge), Young Buck was reportedly forced to post a $100,000 bond. On top of the charge, Young Buck has had frequent financial problems that have reportedly resulted in the repossession of his Cadillac Escalade.
Young Buck is best known as a member of the rap group G-Unit, which achieved fame with 50 Cent in the 2000s. His real name is David Darnell Brown.
The rapper's Cadillac Escalade is a 2008 model. There are no apparent reports on the Cadillac's wheels, customization, or outfittings, but a typical 2008 Cadillac Escalade carried about a $55,000 MSRP. Alloy wheels are standard on the 2008 Cadillac, with optional chrome wheels that could potentially inflate the overall price of the vehicle.
According to reports from Ally Financial Inc., Young Buck owes $11,409 in monthly payments for his Cadillac. It is not known whether he has arranged to pay this debt in light of the repossession.
The Cadillac is not the only possession that Brown stands to lose due to his recent financial troubles. Records also show a debt of over $544,000 to Select Portfolio Servicing in mortgage payments. G-Unit leader 50 Cent claimed that Young Buck owed him money in 2008. Many speculated that this was a significant reason in Buck's fallout with other G-Unit members, although Young Buck claims that this was not the case. Despite his personal problems with other members of G-Unit including 50 Cent, Young Buck is still signed to the G-Unit label.
The repossessed Cadillac may be the tip of the iceberg for Young Buck, who will have to face serious charges, legal fees, and repossessions. He filed for Chapter 11 bankruptcy in August of 2010.
The IRS raided Young Buck's home shortly before the filing and planned an auction of personal possessions (not including the 2008 Cadillac Escalade). However, the rapper was able to stop the proposed auction of the seized property and has reportedly proposed a plan for payment of back taxes. Young Buck celebrated the cancelled property auction on his Twitter feed.
The Cadillac Escalade is well known as a luxury vehicle and has been popular with certain hip-hop artists for the last decade. While the Cadillac Escalade can be seen as a status symbol when properly outfitted with quality tires and rims, it's an exceptionally expensive vehicle. Many buyers look for aftermarket wheels and other ways to cut down on costs when customizing a Cadillac Escalade.
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Article Source :
http://www.articleseen.com/Article_Rapper Young Bucks Cadillac Escalade being repossessed_58962.aspx
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Author Resource :
The author of this article has expertise in Cadillac Escalade. The articles on Cadillac Escalade reveals the author’s knowledge on the same. The author has written many articles on Cadillac Escalade as well.
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Keywords :
Cadillac 20 Inch Wheels Rims and Tires , Audi Wheels, BMW Wheels, Cadillac Wheels, Jaguar Wheels, Land Rover Wheels, Mercedes,
Category :
Travel and Leisure
:
Cars
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