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Folding dealers shock car buyers with unpaid liens
Yahoo ^
| 2/1/2009
| DON THOMPSON
Posted on 02/01/2009 5:53:51 PM PST by Red in Blue PA
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To: familyop
I was just kidding. The only theater I do is for my kids. It’s the only place I feel free to make a complete fool of myself... at least on purpose.
That, and the theater where I actually pretend to know something (that would be here).
I do love it here because folks make me think. Even when an idea is outside the bounds of reality it shakes me to make sure I know what I believe. It’s such a great forum because of the chance to hear what people of differing and varied opinions and backgrounds think. It also sometimes brings out the worst in me. Must fight the beast within!!!
61
posted on
02/01/2009 8:34:55 PM PST
by
Gordon Greene
(www.fracturedrepublic.com - Welcome to the brave new world...)
To: Wolfie
Agree that that will happen....only a matter of when.
62
posted on
02/02/2009 4:28:56 AM PST
by
Red in Blue PA
(If guns cause crime, then all of mine are defective.)
To: Neidermeyer
Does anyone know if Edmunds, NADA, and Kelly are really accurate these days?
***************************************************** Of course not Silly! Those books are printed for schmucks that buy retail, they have never been objective ,, their purpose is to get you thinking youre getting a good deal on that car and on your trade-in... The only book that you should consult is the black book for the auction house (Manheim etc.) ..
Thanks for your response in letting me down gently! I have noticed that Edmunds is always the low price, NADA is middle and NADA is what State Farm uses if you have a total loss (which is a lot better than Geico will do for you).
I'll check out Manheim - have you used them much??
63
posted on
02/02/2009 5:05:11 AM PST
by
RushingWater
(You say Obama - I say Ayers)
To: PAR35
I think part of the problem stems from the archaic dealer system. Why on earth can't the car companies sell direct to a retail customer?
Seems like a protection racket for questionable business practices.
64
posted on
02/02/2009 6:57:50 AM PST
by
starlifter
(Sapor Amo Pullus)
To: sharkhawk
Drive it for at least as long as the note. That's a good point.
65
posted on
02/02/2009 4:25:53 PM PST
by
3niner
(Hoover turned a recession into a depression, FDR turned it into The Great Depression)
To: tubebender
That's called being "out of trust".
Floor plan lender wasn't watching. That's an early warning sign.
66
posted on
02/02/2009 7:20:12 PM PST
by
elkfersupper
(Member of the Original Defiant Class)
To: Gordon Greene
The contracts and the loans are or were - highly traded.
It's like musical chairs when things start to topple.
Whoever is left holding the bag unwinds the deal and eventually, it gets back to the car buyer(s).
67
posted on
02/02/2009 7:26:29 PM PST
by
elkfersupper
(Member of the Original Defiant Class)
To: RushingWater
Does anyone know if Edmunds, NADA, and Kelly are really accurate these days?No they aren't particularly accurate, and they never were. I used to be in the car business, and we used the Kelly blue book, but only as a general reference to book options to add to base. You had to know some real world facts, for example, "Cadillacs are only bringing $1000 back of book." ... "Toyota Venzas are hot -- they're bringing over book" ... "Late model clean pickups bring strong book." ... etc.
If you went to a wholesale auction armed with a blue book but knew nothing else, you would get your a** handed to you.
To: elkfersupper
Gotcha... so it’s like home loans. I know I’ve never gotten a mortgage that stayed with the original lender very long.
69
posted on
02/02/2009 7:53:32 PM PST
by
Gordon Greene
(www.fracturedrepublic.com - Welcome to the brave new world...)
To: Minn
Could they be referring to leases rathe than purchases?
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