That is NOT collusion! That is common sense! And good business tactics besides...
Oh! So shunting other smaller outlet that sell used cars isn't collusion? They get scrap from lenders and make matters worse for people with poor credit that end up at those places anyway. I know you like that model of perpetual poverty for the poor and the protection of the rich but please don't tell us it ain't collusion
I agree with everything said here to a point, but the real issue is veiled or clouded by the perception of the credit crunch. The main theme or question here is what happens to the independant car lots, and the individuals when the market has been narrowed by this loan inavailability? Who will buy your used car, and at what value. Seems this condition seriously devalues one's vehicle, and entices one to "sell" (get raped) to a dealer... This is the apparent collusion I speak of... How long before the only outlet for a used vehicle is thru a franchise dealer? I've always believed that if one HAD to pay cash for big-ticket items, the resulting price would be much lower. Credit, especially easy credit allows for artificial inflation of goods, don't ya think?
And why would one open a line of credit (equity loan)on their home for depreciable goods, like an automobile? Seems not the wisest choice to me, and not even an available choice for those who do not own a home.
Oh, and with regards to save and buy... always a very wise and approapiate plan; however when one's money is earning 13% plus, seems more appropriate to borrow at 5-6% or so, and let the nest-egg continue to grow, C'nest Pas?
I am way too ignorant about the financial world, to realize or discern why a product, like an auto loan for a private-party sale, would be any more a risk than, say, a personal loan for the same item... Eliminating the product can only be because of some other benefit garnered to the lending institution, as has been implied here in this thread...
And this should generate outrage, IMO...
Oh, well...
I don't think anything has really changed all that much, even w/ the CC. What I think is that you began to see what you consider to be a conspiracy when you started doing your research, but what is really going on is what has always gone on, and only tightened up slightly w/ the advent of the CC. That just magnified the apparent "collusion," but is really just good business practices that have always been there. Put your magnifying glass away and bite the bullit...
Oh! So shunting other smaller outlet that sell used cars isn't collusion? They get scrap from lenders and make matters worse for people with poor credit that end up at those places anyway. I know you like that model of perpetual poverty for the poor and the protection of the rich but please don't tell us it ain't collusion
No one is "shunning" the little guy. They are just doing what will produce the most profit for the least risk and hassle. It is exactly what you would do if you ran a major financial institution--or you wouldn't run a major financial institution for long.
I don't think anything has really changed all that much, even w/ the CC. What I think is that you began to see what you consider to be a conspiracy when you started doing your research, but what is really going on is what has always gone on, and only tightened up slightly w/ the advent of the CC. That just magnified the apparent "collusion," but is really just good business practices that have always been there. Put your magnifying glass away and bite the bullit...
What he's basically telling you to do is to take it up the ass, shut up and by all means don't complain about it because it's business as usual. You don't want to upset the balance now would ya?
No one is "shunning" the little guy. They are just doing what will produce the most profit for the least risk and hassle. It is exactly what you would do if you ran a major financial institution--or you wouldn't run a major financial institution for long.
They give the little guy scraps, are you going to deny that? So you are ok for unequal access to financial products? Hell maybe even information? Do you believe in "perfect market" or is that just a hoax played on the majority of the serf nation?
I agree with everything said here to a point, but the real issue is veiled or clouded by the perception of the credit crunch. The main theme or question here is what happens to the independant car lots, and the individuals when the market has been narrowed by this loan inavailability? Who will buy your used car, and at what value. Seems this condition seriously devalues one's vehicle, and entices one to "sell" (get raped) to a dealer... This is the apparent collusion I speak of... How long before the only outlet for a used vehicle is thru a franchise dealer? I've always believed that if one HAD to pay cash for big-ticket items, the resulting price would be much lower. Credit, especially easy credit allows for artificial inflation of goods, don't ya think?
And why would one open a line of credit (equity loan)on their home for depreciable goods, like an automobile? Seems not the wisest choice to me, and not even an available choice for those who do not own a home.
Oh, and with regards to save and buy... always a very wise and approapiate plan; however when one's money is earning 13% plus, seems more appropriate to borrow at 5-6% or so, and let the nest-egg continue to grow, C'nest Pas?
I am way too ignorant about the financial world, to realize or discern why a product, like an auto loan for a private-party sale, would be any more a risk than, say, a personal loan for the same item... Eliminating the product can only be because of some other benefit garnered to the lending institution, as has been implied here in this thread...
And this should generate outrage, IMO...
Oh, well...
A loan secured by your personal residence qualifies the interest for tax deduction.
__________________
It's easier to drill offshore, 400 feet deep to find oil, than it is to drill 6 inches into a liberal's head to find common sense.
They give the little guy scraps, are you going to deny that? So you are ok for unequal access to financial products? Hell maybe even information? Do you believe in "perfect market" or is that just a hoax played on the majority of the serf nation?
No market is "perfect." And no one is delibertly trying to screw "the little guy." In the financial markets, size really does matter. Just be thankful the same isn't true of your love-life!
A loan secured by your personal residence qualifies the interest for tax deduction.
How's that equivalent to a low rate (much lower than the rate for a 2nd on a residence) including the tax benefit? We are talking comparing an unsecured loan to a secured one where the latter costs more (don't forget all the crap fees for taking a second too, just in case you want to demonstrate that I am wrong with some funny math) Oh, and how about the risk to the borrower if he defaults? Can you add that too please You know, like me help you here, if he doesn't pay the car note on the unsecured he may have the car repossessed versus the other scenario where he might lose the car and the house Please, please prove me wrong Bottomline since you seem to always want to do that, here is your opportunity to make a fool of yourself..again
No market is "perfect." And no one is delibertly trying to screw "the little guy." In the financial markets, size really does matter. Just be thankful the same isn't true of your love-life!
Do you even understand what the concept of a perfect market is? just asking, that's all!
(don't forget all the crap fees for taking a second too, just in case you want to demonstrate that I am wrong with some funny math)
Oh, and how about the risk to the borrower if he defaults? Can you add that too please
You know, like me help you here, if he doesn't pay the car note on the unsecured he may have the car repossessed versus the other scenario where he might lose the car and the house
Please, please prove me wrong Bottomline since you seem to always want to do that, here is your opportunity to make a fool of yourself..again
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