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10-03-2008, 11:08 AM
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#1 |
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Radical Centrist
Join Date: Jan 2001
Location: Cottage of Prussia
Posts: 31,423
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LJ: credit crunch affecting consumers yet?
I thought you would have a personal view on this; how tight are the bank's assholes right now? Are they still giving out money?
Is anyone coming in to buy right now - are they jumpy? |
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10-03-2008, 11:10 AM
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#2 |
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I hear them call the tide
Join Date: Dec 2005
Location: Perpetual Chaos
Posts: 30,852
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I was wondering this too. The car lots here seem deserted, but then I'm not sure they didn't always...
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The most difficult thing is the decision to act, the rest is merely tenacity Amelia Earhart |
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10-03-2008, 11:59 AM
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#3 |
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I can hear my ears
Join Date: Oct 2003
Posts: 25,571
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i'm just leaving for the day...but i'll reply to this tonight.....see me in chat after 9 pm!
go beer!
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This body holding me reminds me of my own mortality Embrace this moment, remember We are eternal, all this pain is an illusion ~MJKeenan |
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10-03-2008, 03:31 PM
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#4 |
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UNDER CONDITIONAL MITIGATION
Join Date: Mar 2004
Location: Austin, TX
Posts: 20,012
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Okay, so for those of us whose real lives have seriously interfered with their internet time the last few days... Can someone sum up the chat reply?
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10-03-2008, 03:34 PM
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#5 |
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Gone and done
Join Date: Sep 2001
Posts: 4,808
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Hasn't happened yet, has it? (the chat, I mean...)
As a home-seller, I can honestly say that THIS MARKET SUCKS!!!!1!!11one Not a single blessed buyer out there. We are considering taking it off the market and renting it out to a friend, if we can.
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per·son \ˈpər-sən\ (noun) - an ephemeral collection of small, irrational decisions The fun thing about evolution (and science in general) is that it happens whether you believe in it or not. Last edited by Pie; 10-03-2008 at 03:37 PM. Reason: what was I talking about?? |
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10-03-2008, 03:53 PM
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#7 |
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Gone and done
Join Date: Sep 2001
Posts: 4,808
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Probably at far reduced prices or with whopping concessions.
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per·son \ˈpər-sən\ (noun) - an ephemeral collection of small, irrational decisions The fun thing about evolution (and science in general) is that it happens whether you believe in it or not. |
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10-03-2008, 04:28 PM
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#8 |
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Registered User
Join Date: Jun 2007
Location: Not here
Posts: 2,655
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Only my hairdresser knows for sure. When I went in for a haircut yesterday, she told me that many of her regular customers are cutting back on visits (no pun intended), and she is beginning to feel the impact. As for home sales, I mentioned in another thread that there are alot more houses with "for sale" signs on them in my small town, and those signs are staying there.
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10-03-2008, 04:29 PM
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#9 |
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“Hypocrisy: prejudice with a halo”
Join Date: Mar 2007
Location: Savannah, Georgia
Posts: 21,393
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I would like to hear the assement of the new car industry lending as well. We would like to buy a new car and trade my wifes sequoia in for a Mini Cooper.
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Anyone but the this most fuked up President in History in 2012! |
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10-03-2008, 08:11 PM
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#10 | |
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I can hear my ears
Join Date: Oct 2003
Posts: 25,571
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Quote:
in a word....... cock. oh, wait..... the banks... yeah. ok, so, they've mostly changed in some way. HSBC quit the indirect lending business, so we lost them as a source, and a lot of folks lot their jobs. Capital one has tightened up considerably.....they used to buy anyone with a certain minimum credit score, and minimal credit history.... Also, they are limiting advance amounts on SUVs and trucks. they'll lend you 85% of invoice or trade value on a suv, where they'll lend 115% on a car. Our captive (NMAC) source has just recently held a meeting telling all of the buyers to limit exceptions. They also changed their advance structure for the worse. There are less specials out there on leases, and they are reserving the incentivized rates for those with excellent credit scores. as an example....we can barely give a pathfinder away at this point due to gas prices.....so, the rate is 0.9 for up to 72 months if you score over 740. if you are 700-739, it's 3.9 660-699 4.9, 630-660 is 7.9. fortunately, there are banks that have not changed the way they buy or advance and rate sheets. TD Bank, Citizens, M&T, 5th 3rd....all remain unchanged. the biggest change, obviously is with the sub prime lenders. We have decided to put our impetus on used cars instead of new. because if nissan is gonna let us twist in the wind...then fuck em...we make more on used cars anyway.
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This body holding me reminds me of my own mortality Embrace this moment, remember We are eternal, all this pain is an illusion ~MJKeenan |
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10-03-2008, 09:46 PM
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#11 |
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Layperson
Join Date: Jul 2007
Location: Adelaide, Australia
Posts: 13
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The bottom has fallen out of the big car market in Australia too. 4WD's and the thirsty cars are just not selling.
Where this IS going to be good, is that we should see a greater development of the hybrids - and with bigger sales, hopefully a more affordable price |
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10-03-2008, 11:54 PM
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#12 |
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The future is unwritten
Join Date: Oct 2002
Posts: 71,105
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But I keep getting tons of unsolicited credit card and remortgage offers in the mail. I was hoping they would dry up.
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The descent of man ~ Nixon, Friedman, Reagan, Trump. |
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10-04-2008, 03:52 AM
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#13 | |
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Doctor Wtf
Join Date: Oct 2007
Location: Badelaide, Baustralia
Posts: 12,861
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Quote:
I live in Adelaide too. A mate of mine in Eden Hills is converting Hyundai Getzs to pure electric. They have about the same performance as a regular Getz, about 100 km range and cost about $38,000 to buy, but less that $1 per 100 km to run!!!!!
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Shut up and hug. MoreThanPretty, Nov 5, 2008. Just because I'm nominally polite, does not make me a pussy. Sundae Girl. |
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10-04-2008, 05:53 AM
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#14 | |
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Bitchy Little Brat
Join Date: Sep 2005
Location: Queensland, Australia
Posts: 5,067
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Quote:
Not entirely true. In the last 4 weeks, the car market has suffered across the board, large cars and 4WDs are not reducing at a more rapid pace. In fact, muscle car and large car sales are doing better now than they have for the last few years. Ford Territory and Holden Captiva...being HUGE fuel hogs are selling really well and even with diesel being soooo expensive, 4WD sales are up. Used car sales are a lot harder than they have been, because the franchises arent making target, so they are offering great deals. Lenders are strictly by the book and sticking to their guidelines, whereas previously you could get them to bend. The high risk lenders arent taking on clients that they would usually take on without any hesitation. |
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10-04-2008, 06:05 AM
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#15 |
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Doctor Wtf
Join Date: Oct 2007
Location: Badelaide, Baustralia
Posts: 12,861
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This article indicates that in Australia, sales of commodores (V8 Sedans) are down and corollas are up, and so are SUVs. Equally the small Mazda 3 has passed the big Falcon.
The only effect of the current upheavals I have felt is that I have a large stash of Yen which has appreciated by about 15% in the last month. 
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Shut up and hug. MoreThanPretty, Nov 5, 2008. Just because I'm nominally polite, does not make me a pussy. Sundae Girl. |
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