|
|
 Up |
|
|
  |
Author: DougDoug Date: Aug 10, 2008 21:54
A hint of desperation among car junkies maybe? Drive now, pay later.
"The number of consumers taking out car loans from vehicle dealerships
has rocketed over the past year, as other lenders have raised both
their interest rates and rejection rates.
Volkswagen said this weekend that it had hit its 2008 target of £1bn
worth of car loans five months ahead of schedule – in spite of an
overall slump in car sales in the UK..."
More:
http://www.independent.co.uk/news/business/news/car-company-loans-boom-as-other-lenders...
|
| |
|
| | 7 Comments |
|
|
Date: Aug 11, 2008 00:31
> A hint of desperation among car junkies maybe? Drive now, pay later.
>
> "The number of consumers taking out car loans from vehicle dealerships
> has rocketed over the past year, as other lenders have raised both
> their interest rates and rejection rates.
Had you read the article, you would have seen that the only change is where
new car buyers are borrowing from. Very few people buy a new car with cash,
but, historically, most have shopped around for the best finance deal. With
the restrictions on bank lending, car dealer loans may now be the only deal
available.
Colin Bignell
|
| |
|
| | no comments |
|
|
Author: FodFod Date: Aug 11, 2008 01:16
On Aug 11, 5:54 am, Doug riseup.net> wrote:> A hint of desperation among car junkies maybe? Drive now, pay later.
>
people sometimes take out car loans rather than normal loans because
companies are more likely to give the loan and the apr is normally
lower. ( as the company expects there to be an asset they can chase
you for)
I've known several people who got car loans to help setup a business
and who didn't buy a car with the loan.
They had already enquired about the business loan but were told they
would be unlikely to get it.
20k to buy a shinny new car though? No problem.
All of them ended up with successful businesses ( one of which sold
for a nice sum). I'm sure this will make Doug foam at the mouth.
People working hard and making the despised capitalist model work for
them... grr eh?
|
| Show full article (1.12Kb) |
| no comments |
|
|
Author: FodFod Date: Aug 11, 2008 01:17
On Aug 11, 8:31 am, "nightjar" .me.uk>
wrote:
>> A hint of desperation among car junkies maybe? Drive now, pay later.
>
>> "The number of consumers taking out car loans from vehicle dealerships
>> has rocketed over the past year, as other lenders have raised both
>> their interest rates and rejection rates.
>
> Had you read the article, you would have seen that the only change is where
> new car buyers are borrowing from. Very few people buy a new car with cash,
a contracting mate of mine bought a sports car with cash after a
couple of years working for a swiss bank. He was young and wanted to
do the rich playboy routine...
|
| Show full article (1.02Kb) |
| no comments |
|
|
Author: ConorConor Date: Aug 11, 2008 09:56
> A hint of desperation among car junkies maybe? Drive now, pay later.
>
> "The number of consumers taking out car loans from vehicle dealerships
> has rocketed over the past year, as other lenders have raised both
> their interest rates and rejection rates.
>
Maybe they want to buy a new "green" car instead of driving around in a
polluting clunker.
--
Conor
I only please one person per day. Today is not your day. Tomorrow isn't
looking good either. - Scott Adams
|
| |
| no comments |
|
|
Date: Aug 11, 2008 10:58
> a contracting mate of mine bought a sports car with cash after a
> couple of years working for a swiss bank. He was young and wanted to
> do the rich playboy routine...
>
> He said the experience was a total waste of time as the dealer was so
> matter of fact about it and just stuck the large chunk of cash into a
> safe with even more cash... Perhaps not the best country to do this
> though.
I suspect the dealership is also relevant. I can imagine a Porsche dealer
thinking 'Not another cash sale. Doesn't anyone have an American Express
Centurion card they want to show off?'
Colin Bignell
|
| |
| no comments |
|
|
Author: DougDoug Date: Aug 12, 2008 23:41
On 11 Aug, 17:56, Conor hotmail.com> wrote:> In article <8f41fac7-2d85-4b8e-bc71-b71ba5ddeea7
> @ c65g2000hsa.googlegroups.com>, Doug says...> A hint of desperation among car junkies maybe? Drive now, pay later.
> >> "The number of consumers taking out car loans from vehicle dealerships
>> has rocketed over the past year, as other lenders have raised both
>> their interest rates and rejection rates.
>
> Maybe they want to buy a new "green" car instead of driving around in a
> polluting clunker.
>
There is no such thing as a 'green' car, just a slightly less filthy
car.
|
| |
| no comments |
|
|
|
|
|
Author: FodFod Date: Aug 13, 2008 02:04
On Aug 13, 7:41 am, Doug riseup.net> wrote:> On 11 Aug, 17:56, Conor hotmail.com> wrote:> In article <8f41fac7-2d85-4b8e-bc71-b71ba5ddeea7>
>>> "The number of consumers taking out car loans from vehicle dealerships
>>> has rocketed over the past year, as other lenders have raised both
>>> their interest rates and rejection rates.
>
>> Maybe they want to buy a new "green" car instead of driving around in a
>> polluting clunker.
>
> There is no such thing as a 'green' car, just a slightly less filthy
> car.
>
Just like there is not such thing as a green pc, only a slightly less
polluting one.
How many do you have now?
Awaits the "its less polluting than X,Y or Z" defence which makes a
mockery of Dougs reply to Conor...
|
| Show full article (0.89Kb) |
| no comments |
|
RELATED THREADS |
|
|
|
|
