Credit Card Offerings To Be Cut in Half?

Image and video hosting by TinyPic Good news or bad news? The U.S ... for them to extend me enough credit for me to buy a nice car with my credit card? I don’t understand ... . credit-card industry may pull back well over $2 trillion of lines over the next 18 months due [more...]

Date: 2008-12-01 22:07:00

Blog posts (14) | Videos (26)
 

Back to Basics: Reduce your debt

Being in debt simply means that at one point you borrowed money to fund some purchase, and are now paying it back over time. ( ... , a student loan, a mortgage, a car loan, a title loan, a pawn ticket, or a credit card balance ... one’s means, is usually a bad use of debt. Buying a car with a loan, though sometimes unavoidable [more...]

Date: 2008-11-16 07:24:43

The credit crunch (by Russell Roberts)

Alex (and others) have been debating whether there's a credit crunch. They are using data and anecdotes to measure whether credit is flowing or not ... not "frozen" or "locked up." It's just a lot smaller. Another way to say it. If you have good credit, I think you can get a car loan. But a lot fewer people (with both good and bad credit) want to buy [more...]

Date: 2008-11-14 20:00:14

A Legion Of Pickpockets

It just never ends:Finance companies want US to buy bad auto loansWASHINGTON, Oct 14 (Reuters) ... giving car loans only to buyers with the best credit scores as the global financial crisis strains ... - Finance companies are preparing to seek authority from the U.S. Treasury Department to sell bad [more...]

Date: 2008-10-15 16:42:00

How Wall Street’s Meltdown Helps Main Street’s Housing

Just for fun, let’s imagine a possible silver lining to the complete melt down on Wall Street ... to extend car loans, credit card debt, retail debt and so on.  But this may not be all bad ... are up and his long commute is killing them.  They need to buy a different car.  “But no one is lending money [more...]

Date: 2008-09-19 13:00:15

Wall Street bailout plan to include more than bad mortgage debt: Feds to absorb unpaid bar bets, inadvertently laundered postage stamps, unredeemed soda cans and insufficient tooth-fairy disbursements

Totally absurd? Think twice: In the dark of night over the weekend when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other “troubled” assets held by banks. The changes, which were included [more...]

Date: 2008-09-23 06:05:06

Consumer confidence falls to record low

The Conference Board reported a record low in consumer confidence in the U.S. going all the way back to 1967 when record-keeping began ... percent. In bad news for retail sales, only 4.4 percent of the sample say they expect to buy a car ... . Falling home equity, plunging stock markets, and a credit crisis, the likes of which few [more...]

Date: 2008-10-28 15:34:00

WIIFM*

The bailout bill failed. Shot down. I don't know whether that's good or bad. I honestly don't. The time is past for finger pointing ... in my fingertips or I rent. The car? changing the car is not a problem. Funny thing is, because of my credit ... . We must take action. But what action? Okay, so the government buys a bunch of this bad debt [more...]

Date: 2008-09-30 03:24:58

Paulson Changes Tack Yet Again on TARP

It's a good thing (for him) this guy doesn't have to face elections ... such as car loans, credit cards and student loans. The Treasury and Federal Reserve are exploring ... . From Reuters: Treasury backs away from plan to buy bad assets Wed Nov 12, 2008 11:51am EST [more...]

Date: 2008-11-12 18:22:26

The Four-Paragraph White Flag

As I watched the following section of President Bush's speech tonight, ... if you have good credit history, it would be more difficult for you to get the loans you need to buy a car ... instinct is to oppose government intervention. I believe companies that make bad decisions should [more...]

Date: 2008-09-25 03:46:00

Bad Credit No Problem

One of our vehicle’s lease is up in three month’s time. I am talking about my husband’s truck or pick up ... and it does not matter where you are purchasing your vehicle. So, for new, used or refinancing your car ... . When we got this vehicle, we opted for the lease instead of buying it because we are not sure [more...]

Date: 2008-09-16 18:21:41

Banks and Consumers Are the Problem, Not Bad Assets

Treasury Secretary Henry Paulson announced that he has shelved the original plan to buy troubled mortgage assets via the recently approved $700 ... government funding. "Illiquidity in this sector is raising the cost and reducing the availability of car loans, student loans and credit cards. This is creating a heavy burden on the American people [more...]

Date: 2008-11-14 12:14:14

Floorplan Freeze

From Bloomberg: Without access to floorplan financing, most dealerships would be forced out of business, said John Casesa, ... dealerships, to the point of recalling their loans, and sluggish car sales have made a bad problem worse ... of different brands. Credit availability for consumers wishing to buy cars already has been cut. Many lending [more...]

Date: 2008-10-10 22:08:44

Deflation - antithesis of consumerism?

Going to try and challenge conventional wisdom this week and try and look at the current economic crisis from a different angle ... waiting before making a purchase. Why buy a car now on credit, when you could wait a year and buy ... it is a bad thing… but this time I’m going to argue that maybe it is exactly what we currently need [more...]

Date: 2009-02-22 20:26:36

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