Quote:
Originally Posted by baddog
I guess you did not bother to read the article.
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No I didn't. So if they divided the $3 billion by their 125,000-vehicle number to get an average of $24,000 per vehicle. But yet they were only giving people a 3-4K credit. WTF did the rest of the money go???
Quote:
Originally Posted by marketsmart
people bought cars.. without the credit, they would have stayed in the cars they were driving.. thats what i read..
US people are dumb and can't seem to pass up a good deal..
same reason why people bought houses with interest only loans knowing they couldnt afford the payments when the mortgages reset...  |
The housing deal was totally different, you had the govt trying to be PC and make sure EVERYONE can get a new house. You had people getting financed with 0 down without showing any tax returns to prove income. While the people were stupid enough to do it, the govt and greedy mortgage brokers allowed them to do it.
Much much different with car loans. Go try to get a car loan with bad credit and no income, good luck. Especially these days. The people might want a car they can't afford, but in 99% of the cases they not going to be allowed to get it.