CADsortaGUY
Lifer
Originally posted by: DealMonkey
Originally posted by: CADsortaGUY
Originally posted by: charrison
Originally posted by: DealMonkey
Originally posted by: charrison
I understand what you are saying, but we also have a financial hangover right now. That hangover is going to take a while to its course, for both banks and consumers. Consumers need to lower their debt load and banks need to increase their cash holdings. IT sucks, but it needs to be done.
Yes, but people with GOOD credit with the ability to repay aren't getting loans. Things have completely swung the opposite direction and as much as you like to think that's a good thing, it's NOT. Not for the consumer, not for corporate america, not for the auto makers, not for anyone. Lending and available credit for people and companies who DESERVE credit, form the backbone of our economy, and without it, our entire economy is tanking.
I don't think you get it. I really don't.
So how many people with good credit, low debt, with the ability to pay are being turned away.
And I get the fact that lending institutions are nervous.
lol, exactly. I don't have stellar credit, have a good amount of debt(house, 1 car, and maybe a couple grand on CCs due to work travel) but I had no problem running a deal yesterday at the dealership all the way to the final papers. I ended up not buying though but I was approved and everything went off without a hitch...unless you count me getting cold feet at the end since I want to wait until Jan/Feb to buy and the deal wasn't exactly what I wanted.
The point here is that no one is being turned away if they have what charrison is talking about because I had zero problems without them.
Riiiiight. Obviously Jackson, the CEO of AutoNation, is just lying through his teeth about the fact that people with good credit are being turned away at his dealers across the U.S. I'm sure he's somehow in on this UAW conspiracy to destroy the big 3 with their outrageous wages.
:roll:
OR maybe he found an example or two people who had "good" credit but were otherwise unqualified. It's pretty damn laughable with all the financing options that anyone with "good" credit isn't getting loans. Sure, they might not get the loan they want or the special financing deals but that doesn't mean they can't get loans. I'd really love to see some examples before I'd believe his BS especially given my experience.
