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Plenty of money for new car loans! - 11/23/2008 11:17:29 PM

popeye1250

Posts: 18104
Joined: 1/27/2006
From: New Hampshire
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I saw an add on t.v. last night from the National Association of Auto Dealers last night advising people that they have "plenty of money for new car loans."
I was in for service two weeks ago and was talking to my salesman, "James Brown, just like the singer!" and he said the same thing, "I can get just about anyone a car loan."
"Ford Motor Credit has plenty of money to loan out!"
I don't know why people feel they can't get loans these days!
Even my credit union sends me fliers about low rate car loans.
And this is an outstanding time to buy a car with business so slow!
Ford is advertising "$7,500 back" on all F-150s."
That's a LOT of money back on a vehicle!
And it's not just Ford, GM and Chrysler want your business too.
And I would assume that they have good deals like Ford does too.
Maybe it's differant in other parts of the country?
How is it in your area?

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Post #: 1

RE: Plenty of money for new car loans! - 11/23/2008 11:44:23 PM

Lockit

Posts: 11292
Joined: 5/7/2007
Status: offline

My son was 'not' selling car's in Colorado and had to leave the business as of a couple months ago. He went back to oil rigging. No shortages there! R was telling me that they were having a hard time getting loans for people, but things have changed a bit so maybe... but I think that with jobs the way they are and now hearing about how many people showed up for that free food in the other thread... the area is suffering.

I know I lived in an apartment complex with mostly illegal aliens. People were moving out at a high rate and that was strange because it was the cheapest apt. I could find in five states and most were a community in the building. I think some were going back to Mexico because they were leaving everything behind. There was a crack down on undocumented workers and Greeley had a high rate of illegals as it was one of the cheaper places in Colorado to live.

I guess it doesn't matter how easy it is to get a loan or what they are doing as incentive... if people don't have jobs or are afraid of things getting worse, one of the last things they are going to do is create another monthly expense. I know... I lost my business after 911 because people were afriad to buy. It killed most of us in the business.

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Post #: 2

RE: Plenty of money for new car loans! - 11/23/2008 11:50:07 PM

Vendaval

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Joined: 1/15/2005
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I am seeing advertising for 0% financing and one of the local dealerships is calling it a "buyer's market"

http://www.ranchograndemotors.com/Content.asp?id=1

_____________________________

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So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
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http://KinkMeet.co.uk

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Post #: 3

RE: Plenty of money for new car loans! - 11/24/2008 4:37:45 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

umm. do you mean cars that cost more then my house?

the same cars where a 5/6/7 year note is commen?

everything is a complicated contract...weather you get cable, an appliance, a checking account, a vacation or a phone plan.   all with if and and buts so much so that the said product is rendered not fit.

I have never signed for a new car in my life. I dont plan to now.

$7500 back?   I never paid more then 4k for a car.

the purpose of a car is to safely get from point A to B.   a tool of life. Not to willingly sign up for inslavement.   you know things are bad when a toaster vender offers an extended "warranty" argh.

what a nut show world we allow!

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Post #: 4

RE: Plenty of money for new car loans! - 11/24/2008 4:43:52 AM

BbwCanaDomme

Posts: 330
Joined: 5/22/2008
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I'll be the first to admit that I don't really understand economics, but aren't bad loans a big part of the reason America's economy is crashing? Shouldn't they be making it harder to get loans instead of saying anyone can get one? Like, if you have money, right now is an awesome times to buy things. Buy as much property and cars as you can haha, but if you don't have money, wouldn't it be a better idea to wait until there's not a pretty good chance of getting laid off?

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Post #: 5

RE: Plenty of money for new car loans! - 11/24/2008 4:50:35 AM

MmeGigs

Posts: 706
Joined: 1/26/2008
Status: offline

quote:

ORIGINAL: popeye1250
I was in for service two weeks ago and was talking to my salesman, "James Brown, just like the singer!" and he said the same thing, "I can get just about anyone a car loan."

This is the kind of thing that got us into the mortgage mess.

(in reply to popeye1250)

Post #: 6

RE: Plenty of money for new car loans! - 11/24/2008 4:50:36 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

quote:

ORIGINAL: BbwCanaDomme

I'll be the first to admit that I don't really understand economics, but aren't bad loans a big part of the reason America's economy is crashing? Shouldn't they be making it harder to get loans instead of saying anyone can get one? Like, if you have money, right now is an awesome times to buy things. Buy as much property and cars as you can haha, but if you don't have money, wouldn't it be a better idea to wait until there's not a pretty good chance of getting laid off?

BINGO!

this is why many are missing the boat. Ron Paul knows what needs to be done. the monetary system is going down- you have 6 months before all hell breaks loose. the new Amero dollar will be 10$ of now for ever 1$, at best.

2.3trillion $ is "missing" from the military... and we had 11 bail outs in 2008. what does that tell you? lets call it a conspriacy. lets call it bad planning. lets call it ....a shifting paradyme.

Get your household in order. in a word, SUPPLIES. you have 6 months. Go. (to task)

(in reply to BbwCanaDomme)

Post #: 7

RE: Plenty of money for new car loans! - 11/24/2008 5:18:48 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

on food--->
http://www.larouchepac.com/news/2008/11/11/lpactv-food-crisis.html

here is the November 18th 2008 webcast. "no one could see it coming" what a crock this man seen it- http://www.larouchepac.com/news/2008/11/18/larouche-webcast-civilizations-last-chance.html

"there is no possible rescue" ie the system or the planet. "imperialist system" anyhow this guy is hated, he even went to jail. nevertheless- here he is

< Message edited by pahunkboy -- 11/24/2008 5:28:21 AM >

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Post #: 8

RE: Plenty of money for new car loans! - 11/24/2008 5:20:11 AM

RainydayNE

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Joined: 10/21/2008
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this is something i've been wondering about, too.
if they need so much help, how can they then throw out all these loans? (the same kinds of ads can be found in my area, too)
everyone's got allegedly skillions of dollars to loan out so people with bad credit, no credit, good credit, french credit, naked juice credit, whatever kind of credit can come and get a car
and i thought this sort of thing already went bad in the mortgage industry?

(of course when countrywide was going down, you still saw "hey, we'll take your mortgage and re-do it and give you some ungodly cheap rate!" commercials from countrywide =p)

(in reply to pahunkboy)

Post #: 9

RE: Plenty of money for new car loans! - 11/24/2008 5:21:44 AM

BbwCanaDomme

Posts: 330
Joined: 5/22/2008
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quote:

ORIGINAL: RainydayNE

this is something i've been wondering about, too.
if they need so much help, how can they then throw out all these loans? (the same kinds of ads can be found in my area, too)
everyone's got allegedly skillions of dollars to loan out so people with bad credit, no credit, good credit, french credit, naked juice credit, whatever kind of credit can come and get a car
and i thought this sort of thing already went bad in the mortgage industry?

(of course when countrywide was going down, you still saw "hey, we'll take your mortgage and re-do it and give you some ungodly cheap rate!" commercials from countrywide =p)

I could totally go for some naked juice credit right now.

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Post #: 10

RE: Plenty of money for new car loans! - 11/24/2008 5:25:33 AM

RainydayNE

Posts: 978
Joined: 10/21/2008
Status: offline

quote:

ORIGINAL: BbwCanaDomme

I could totally go for some naked juice credit right now.

haha :) seriously
i think blue machine is my fave :)
or anything that has mango in it =p

(in reply to BbwCanaDomme)

Post #: 11

RE: Plenty of money for new car loans! - 11/24/2008 5:36:49 AM

Irishknight

Posts: 2016
Joined: 9/30/2007
Status: offline

My father just took advantage of this sudden money for car loans and bought a new vehicle to replace the one that they have that is starting to fall apart. He was supposed to be getting a fuel pump put on the old one and he shows up at my mom's job with a shiny red mini truck and a contract for her to sign. SURPRISE!!!!! EVERY NEW FUEL PUMP COMES WITH A NEW VEHICLE!!!!!

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Post #: 12

RE: Plenty of money for new car loans! - 11/24/2008 5:42:06 AM

LadyEllen

Posts: 10931
Joined: 6/30/2006
From: Stourport-England
Status: offline

I wouldnt mind betting they dont make a penny on a cash sale of a car - its the credit deals that make the money.

Someone, somewhere has "da money" as Big Fat Tony would say; that someone might well see the financing of car loans as a good idea (especially if they happen to be the credit/investment arm of an auto manufacturer), and subject to the customer having good credit or having a counter-signatory, why not? If the loan is repaid, everyone makes money. If it isnt then the car is repo'd and goes for another turn on the merry go round - sooner or later someone will repay in full. And as long as we dont let defaulters off the hook for the net money they owe after repo and resale, we still win.

Because then there are these "get a tonne of cash back" deals; these make me wonder. When one buys a new car, it loses a load of value the moment it leaves the showroom, then it starts losing value slowly over the next few years. So what if we as the auto company hiked the price of the new car up by the same amount as this ex showroom depreciation and handed that money to the customer? Customer feels like its a great deal - but he's actually still on the hook for the full price of the car including our little price hike in his loan, and if we repo - the car will still yield us something close to what the price ought to be at new.

E

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RE: Plenty of money for new car loans! - 11/24/2008 5:42:20 AM

Dnomyar

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Joined: 6/27/2005
Status: offline

I was able to buy a new car. Irish my truck needed new brakes. Cheaper to buy a new car. In Mich the loans are easy to come by.

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Post #: 14

RE: Plenty of money for new car loans! - 11/24/2008 5:43:25 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

the PA tollroad is laying off due to low revenue. hmmm. gosh we better rescue it before it collapses! if it isnt used as heavily, then in theory there would be less wear and tear.

traffic down 1.4%. thats all it takes to wreck the money per the road?>????

things will be good for the next 6 months. buy what you will consume....not much more..... I certainly would hestitate to sign for any payment. what we have is a game of musical chairs. there are 300 people, and 100 chairs. good luck.

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Post #: 15

RE: Plenty of money for new car loans! - 11/24/2008 6:01:08 AM

Dnomyar

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I go around the toll roads in Illinois. They went from 25 cents to over a dollar in most places.

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RE: Plenty of money for new car loans! - 11/24/2008 7:48:21 AM

OrionTheWolf

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Joined: 10/11/2006
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~FR~

Five years ago I got a 0% loan with GMAC but it required 25% down. 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.

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When speaking of slaves people always tend to ignore this definition "One who is abjectly subservient to a specified person or influence."

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Post #: 17

RE: Plenty of money for new car loans! - 11/24/2008 8:39:09 AM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
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quote:

ORIGINAL: Dnomyar

I go around the toll roads in Illinois. They went from 25 cents to over a dollar in most places.

I grew up in Chicagoland.   I recall a debate on the tolls going up, it might have been to 0.35$.   dad said, "there is no such thing as a temporary increase".   my how he is right.

I left in 1988.   i355 was not there. I can understand a toll there.   But the Chicago skyway???   egads.
When I last drove in- there was not a sign as to the toll cost. only when i was 30 feet from the booth. $2.50. i was going the wrong direction. I missed the turn off where one goes from i80 IN tollway into Orland Park. A truck was in the way of the exit- ....anyhow- it would cost $5 to turn around. I dont know how I did it- but I somehow made a U-turn, and escaped that.

My cousin got fined a few thousand $$ for driving the thru lane with no transponder.   ya know to a visitor the signs are not clear.   we ahve red lights in the town...but no bus, no commuter train, no airport- no tolls.

I wish tho- they would build a wall so the busy street here would be blocked.

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Post #: 18

RE: Plenty of money for new car loans! - 11/24/2008 12:21:17 PM

Vendaval

Posts: 10297
Joined: 1/15/2005
Status: offline

Fast Reply -

How about a lease to own option? Or buying a car that was used by someone in the dealership? Any advice?

_____________________________

"Beware, the woods at night, beware the lunar light.
So in this gray haze we'll be meating again, and on that
great day, I will tease you all the same."
"WOLF MOON", OCTOBER RUST, TYPE O NEGATIVE

http://KinkMeet.co.uk

(in reply to pahunkboy)

Post #: 19

RE: Plenty of money for new car loans! - 11/24/2008 1:41:12 PM

pahunkboy

Posts: 33061
Joined: 2/26/2006
From: Central Pennsylvania
Status: offline

people have long been upside down in a car.

http://www.huffingtonpost.com/2008/11/23/saturday-night-live-does_n_145796.html SNL doing ariana skit

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Post #: 20

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