Quote:
Originally Posted by derklug1
It's not just sub-prime and rates, it is length of loans. Honda's President of NA put out a letter saying that all of the car companies are cutting their own throats with 80 month and longer loans. People get stuck with no equity in their cars and can't afford to buy a newer one.
|
I read a separate article which stated FCA's Chrysler Capital is the worst offender. They process the most long term & subprime loans. Add to that their axing of fuel efficient vehicles & they've created a recipe for disaster, should there be a sudden flux in the market. I hope the government lets them crash & burn if/when it happens.