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Helpful or Hurtful?

By Brian | October 28, 2008 | Share on Facebook

My wife and I leased a car a few months ago.

Topics: Money Talk | 3 Comments »

3 Responses to “Helpful or Hurtful?”

  1. Ilya says at October 29th, 2008 at 7:27 am :
    As you did a good job explaining earlier, Brian, insolvency among real estate borrowers has been largely precipitated by the falling house prices, as mortgages become increasingly larger than the value of the properties. I’m pretty sure that it’s a somewhat different equation when it comes to autos. If every component of the lending chain involved in this “offer” evaluates their risks properly – and I can’t imagine any financial institution today not doing that – then it is quite possible that they feel it warranted to be able to extend credit to people with less than stellar credit history.

    It might play into further credit markets troubles or it might help un-freeze lending. You can never say which on a small local scale. As much as my instinct tells me to call them stupid, I’d rather cheer a sign that someone somewhere can still do business, as opposed to being completely closed off. If anything, it gives me a better chance of finding reasonable credit upon my re-entry into US economy, with my own pretty good credit history.

  2. Brian says at October 30th, 2008 at 2:13 pm :
    That’s a good point, Ilya. Technically, if one got in trouble with a car loan/lease, one could sell the car and typically pay back the loan, so if the collateral supports the loan amount, the risk is much less. Also, losing your car and losing your house, while both disruptive, are not on the same level.

    That said, predatory lending is in the spotlight right now, and when someone brazenly engages in mass advertising for cut-rate loans, that comes a bit close to the line (IMHO)

  3. Rizzo says at October 31st, 2008 at 1:47 pm :
    Hey Brian!

    A few months ago, here…
    http://www.familygreenberg.com/index2.php/2008/07/cool-t-shirts/

    I posted on your blog and offered to send you a coupon code to my new t-shirt website, RizzoTees.com, once it was up and running. My site went live yesterday! Have a look at http://www.RizzoTees.com .

    As promised, if you’re interested in purchasing anything, the coupon code 3JBEE84C will save you 20% off the cost of the shirts. The code expires on 12/31/08. You may share that code with anyone you like, as it will work more than once. If you have any feedback on my site that you’d like to share, I’d love to hear what you think.

    Sorry to spam your car posting here – it appeared to be the best way to contact you.

    Thanks Brian! Happy Halloween!

    Best to you,
    Rizzo

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