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DarkSteven -> RE: Plenty of money for new car loans! (11/24/2008 2:14:20 PM)
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quote:
ORIGINAL: OrionTheWolf
Maybe they are looking for an influx of cash on downpayments, screening well for good credit and then banking on the economy getting better. I have noticed the Big 3 dealerships around here seem to have some real good deals. They have to move the cars to keep the money coming in. Sometimes you have to choose between taking a small loss and taking a big loss.
The current economics favor cash in hand.
If the car companies get a nice down payment, then they'll ignore the rest of the loan to an extent. They need cash NOW, and there's always the possibility that the government will bail them out of bad loans down the road. The idiot government has created a bailout mentality in businesses. Partly it's simple stupidity and shortsightedness, and partly it's a cynical ploy to keep the bubble going, and delay the day of reckoning.
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