Posted on 09/07/2022 9:26:46 AM PDT by ChicagoConservative27
Bank Australia recently announced that it will stop granting loans for new fossil fuel cars from 2025 forward to force more people to purchase electric vehicles. Justifying the bank’s move, its chief impact officer proclaimed, “We think that the responsible thing for us to do … is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead.”
But is making it more difficult for hard-working men and women to obtain affordable vehicles that run on reliable energy really the “responsible thing” to do? That’s exactly the premise that environmental extremists would have everyone believe, even though electric vehicles are significantly more expensive to purchase than vehicles that run on gasoline. Not to mention the fact that the asking price of an electric vehicle does not appear to be going down anytime soon.
(Excerpt) Read more at thehill.com ...
Great opportunity for would be Shylocks!
If every car sold (in 20 years) is an EV, I want to be the only guy in my county to have a ‘Cuda HEMI or GTO or 351 Mustang in my garage.
“Mehhh it’ll just open another lending market “
exactly ... and the rich pay cash anyway, so no wealthy people will be hurt ...
I could learn something from you. We’ve got less than 10% left to payoff the house. We too made “re-financing” mistakes along the way. Cars are paid off, but we keep them about 15 years. Had some issues recently that made us dip into savings and use the credit cards so we have to tighten up for a few months.
Like you, we had to learn the hard way, and those seem to be the lessons that stick with you the longest.
Congratulations on your financial independence.
Thanks. Wanted to be well positioned for retirement. Reaching 31 years with my current employer in December. Just turned 66. Hoping the market meltdown doesn't destroy my retirement AGAIN. I lost $500k in 2008 in a few days. I've recovered much of that, but really lost a decade of growth and what has been recovered has significantly less purchasing power than it did in 2008. Good luck in your efforts.
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