defaults on auto loans & Hybrids
#1
defaults on auto loans & Hybrids
I was just reading an article on MSN money, wherein it says that GM's stock fell, in part because
So, here's an interesting question. Is there a way to compare auto loan delinquency rates on hybrids as opposed to other automobiles? I am obviously biased, but I would presume that hybrid drivers probably have the lowest default rates, probably lower than any brand or any other definable segment (i.e., luxury, truck, economy, convertible, sedan, mini-van, SUV, etc.,.).
I guess I'm going to go ahead and point out this research could be done, since I think we all probably, assuming this is correct, deserve a break on our auto loan APRs.
I was just sitting here reading a bunch of non-sense about how no one could have predicted this "credit slump" we're in, and wondering why it says that when I've been talking about the dangers of median and mean housing prices being higher than median and mean incomes, the house of cards that CDOs and CDSs are, the danger of running this government by selling bonds to Caribbean hedge funds and chinese banks etc.,. since about the re-election of GWB, when I concluded people are getting dumber by the week. Then I came across this little nugget, and wondered if any hybrids are being re-possed anywhere.
'Course I'm paying 2.9% on my 2004 Civic Hybrid. So low I've see no reason to pay it off early. And I got a personalized mailing today from Beverly Hills BMW offering 2.9% and my first two months payments on a shinny new BMW. Even high-end retailers are starting to feel the effects of what I think is going to be a deep, dark recession. I pass by there every day on my way to work. Maybe I should go tell them that if they imported a 123d (a diesel BMW that gets about the same gas mileage as my hybrid civic) I'd buy it. But I'm sure they're not that desperate yet.
Here's the link: http://articles.moneycentral.msn.com...19markets.aspx
General Motors Acceptance Corp., is seeing more delinquencies among its auto loans.
I guess I'm going to go ahead and point out this research could be done, since I think we all probably, assuming this is correct, deserve a break on our auto loan APRs.
I was just sitting here reading a bunch of non-sense about how no one could have predicted this "credit slump" we're in, and wondering why it says that when I've been talking about the dangers of median and mean housing prices being higher than median and mean incomes, the house of cards that CDOs and CDSs are, the danger of running this government by selling bonds to Caribbean hedge funds and chinese banks etc.,. since about the re-election of GWB, when I concluded people are getting dumber by the week. Then I came across this little nugget, and wondered if any hybrids are being re-possed anywhere.
'Course I'm paying 2.9% on my 2004 Civic Hybrid. So low I've see no reason to pay it off early. And I got a personalized mailing today from Beverly Hills BMW offering 2.9% and my first two months payments on a shinny new BMW. Even high-end retailers are starting to feel the effects of what I think is going to be a deep, dark recession. I pass by there every day on my way to work. Maybe I should go tell them that if they imported a 123d (a diesel BMW that gets about the same gas mileage as my hybrid civic) I'd buy it. But I'm sure they're not that desperate yet.
Here's the link: http://articles.moneycentral.msn.com...19markets.aspx
#2
Re: defaults on auto loans & Hybrids
It's the product that is effficient, not the owner. Even if the hybrid gets repossessed, it will probably be sold to someone else who will save fuel. Good intentions mean nothing to the bottom line.
#3
Re: defaults on auto loans & Hybrids
Even if there were "defaults" on hybrid loans, it wouldn't be noticeable since cars with high resale value (like hybrids) don't get "upside down" on the financing where the owner owes more on the load than the car is worth.
I bought my FEH on low interest 100% financing - I put no money down and sold my old car for cash. Why spend my money when someone else provides it (almost) free?
I bought my FEH on low interest 100% financing - I put no money down and sold my old car for cash. Why spend my money when someone else provides it (almost) free?
#4
Re: defaults on auto loans & Hybrids
Hmm.... I think my point might have been missed. People with better credit -- prefered credit -- get better rates. If it is shown that hybrid purchasers tend to -- regardless of credit -- be the most credit worthy, ie, most likely to pay back their loans than any other auto purchaser, we should get prefered rates.
It's sort of like the theory behind Traveler's 10% hybrid discount for auto insurance in a credit context. There's been an add over at treehugger.com that I've never paid attention to that's been advertising a .5% discount on loans for hybrids. I never looked into it, but this data may show it's justified.
It's sort of like the theory behind Traveler's 10% hybrid discount for auto insurance in a credit context. There's been an add over at treehugger.com that I've never paid attention to that's been advertising a .5% discount on loans for hybrids. I never looked into it, but this data may show it's justified.
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04-02-2014 03:40 PM