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Re: Used 4x4 trucks...
[Re: CarbonClimber1]
#2588632
09/24/18 09:01 AM
09/24/18 09:01 AM
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Joined: Jul 2010
Posts: 9,187
B'ham
Goatkiller
14 point
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14 point
Joined: Jul 2010
Posts: 9,187
B'ham
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Here is what happened.
Economy Crash
Auto Manufacturers Go Broke
Taxpayers Bail Them Out
Economy Sluggish - Hard to sell new cars
Financing Terms go from 60 months to 72 months to 84 months to......lowers monthly payments
Economy Improves
Vehicle Prices Rise - because monthly payments have a lot of room to rise due to 84 month financing terms.
You can take a truck that cost $40K financed over 48 months or $65-70k financed over 96 months and roughly you have the same monthly payment
They hosed us as consumers. At one time I don't think banks would even make a car loan over 60 months.
No government employees were harmed in the making of this mess.
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