[quote=svelte]It all depends on who you want to quote, flu. You should know that.
See the glass as half empty if you want.
[/quote]
Look, I’m not suggesting other automakers are not guilty of this too, there were plenty of articles quoting people purchasing toyota doing subprime too.
My point wasn’t to exclusively bash GM/Chrysler. Just to show that subprime is back at least for autos. GM/Chrysler are two of such companies that restarted subprime lending after the likes of Ally was bailed out (more less)…Some of these auto companies afterwards even bought companies that exclusively do subprime lending. Mitsubishi almost went under a few years back because of subprime lending… And here we are again, with companies pushing for 84-96+month subprime loans again… If you want to deny that, and don’t think that’s not a problem..Well, ok…
I mean, it definitely was really ironic that when I was trying to rent on a condo down south, someone with a credit score of 500-550, a few judgments, a few tens of thousands in outstanding credit card debt (one being for a Victoria Secrets charge card to the tune of $15k outstanding)..still managed to pull up in a brand new spanking new Nissan Altima on a $40k salary….Don’t you think there’s a rat in this ?
It’s kinda ironic that on one hand people are complaining about how bad the economy for main street is. And on the other hand, people have means to be driving around brand new financed cars even when their credit is totally shot and their income and debt load would say otherwise….
Seriously, 96+month loans on a new car, and that doesn’t smell fishy?
