Auto companies will be offering 0% with the poor sales numbers that have come out lately. (the thumbs up is for 0% not the low sales numbers, just so someone doesn't misinterpret)

I didn't think anyone could get a loan now.
Is someone in the government lying to us about a credit freeze?

In reality there is no such thing as 0% financing - the manufactures are paying the intrest out of profits ( or by futher loss ).

In the end, if you were able to negociate a cash price, it would be lower than one where they are funding credit to a buyer.

Justi, lots of loans out there right now, just not as free as it used to be. More in line with what it should be, with a slight lean to the strict side.

I see nothing wrong with that at all.

Mark

An I'm still 4 years out on buying a new vehicle. Maybe now people will get wise to keeping them well beyond the initial depreciation hit?

+ 1 MarkHB.

So what you're saying is that the "Credit Freeze" that is being told by Paulson et. al. is a big lie and banks are finally actually denying credit to people who should not get loans.
How friggin Un-American is that.
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Words to live by! (or at least SHOULD live by...)

No there is difference. Some banks are still lending to businesses, most are still lending to individuals. The ones that aren't don't have the capital needed.

The credit that Paulson is talking about is bank to bank. That is freezing up, however if you deal with a strong bank, no issue. There are plenty of strong banks out there!!

But otherwise Justi, that would be a true statement.

Within the past month, I was able to get my credit line increased on two of my credit cards. Also refinanced my truck for 1.5% lower interest rate. Loans are available to those who deserve them, who have a good credit score/history. That is the way it should be!

But I can breathe!


I'm entitled to borrow $50k for that new Bimmer!

Ha!

Gone are the days of the only qualifier for a loan was the desire to purchase and a pulse!!!

As well it should be...

Nope, The Bailout passed, we're back to the bad old days