T-Bird76
2008-04-02, 09:58 AM
Ok so I'm in rant kind of mood today..Everywhere you read its doom and gloom the economy is failing, housing is crashing and now the latest is the auto industry. We all have seen the ad's about approved credit when getting a car no matter your credit score and what not. Now however the auto industry is feeling the pinch.
However we blame everyone but our own bad choices...and here's an example from MSNBC.com.... Take note....the person they mention in this article is 27 and a Firefighter. Why is a 27 year old Firefighter leasing a BMW 5 series? Ok yes he is more then entitled to get w/e he wants but where is the common sense? Folks the fact is a 27 year old Firefighter can't afford a car like this! I can't afford a car like this and I bet I make twice if not three times the amount this guy does.
Phil and I were PMing about this....and Phil is right it’s GREED! Pure GREED! Yes we live in a free country and we can do w/e we wish and buy w/e we want but lets wake up! ppl open your eyes! Someone making 30k a year can't afford to buy a $700,000 house and a 27 year old civil servant can't afford a 5 series BMW those are the facts! We need to wake up fast my friends! We need to take responsibility for our own actions and not go and cry to the gov't for help when we **** up! The only ones who will fix the economy are the citizens of this country. The Gov't can pore billions into economy but that won't fix a thing if we don't change our behavior.
Auto sector feels pinch of credit crunch
Rising loan delinquencies could have affect on overall economy
By Roland Jones
Associate editor
updated 7:44 a.m. ET, Wed., April. 2, 2008
Driving a sporty car was nice, but with high gas prices and inflation pinching at his pocketbook, Jorge Valdes decided last October to get rid of his white BMW 525i sedan when the $700-a-month lease payments became too much to bear.
Valdes turned to LeaseTrader.com, an online service that allows one car lease owner to transfer it to another before it expires. He passed on the remaining 16 months of his 36-month lease to another driver, allowing him to lease a new, cheaper car and lower his monthly car payments.
“With gas and insurance I was paying over $1,000 a month to drive a vehicle and it didn’t make any sense,” said the 27-year-old firefighter who lives in Miami, Fla. my main reasons for getting rid of the lease,” he continued. “Gas prices are going through the roof and the economy isn’t getting any better; everyone hopes it will, but I don’t see it getting any better any time soon. There’s nothing out there that’s going to pick us up.”
However we blame everyone but our own bad choices...and here's an example from MSNBC.com.... Take note....the person they mention in this article is 27 and a Firefighter. Why is a 27 year old Firefighter leasing a BMW 5 series? Ok yes he is more then entitled to get w/e he wants but where is the common sense? Folks the fact is a 27 year old Firefighter can't afford a car like this! I can't afford a car like this and I bet I make twice if not three times the amount this guy does.
Phil and I were PMing about this....and Phil is right it’s GREED! Pure GREED! Yes we live in a free country and we can do w/e we wish and buy w/e we want but lets wake up! ppl open your eyes! Someone making 30k a year can't afford to buy a $700,000 house and a 27 year old civil servant can't afford a 5 series BMW those are the facts! We need to wake up fast my friends! We need to take responsibility for our own actions and not go and cry to the gov't for help when we **** up! The only ones who will fix the economy are the citizens of this country. The Gov't can pore billions into economy but that won't fix a thing if we don't change our behavior.
Auto sector feels pinch of credit crunch
Rising loan delinquencies could have affect on overall economy
By Roland Jones
Associate editor
updated 7:44 a.m. ET, Wed., April. 2, 2008
Driving a sporty car was nice, but with high gas prices and inflation pinching at his pocketbook, Jorge Valdes decided last October to get rid of his white BMW 525i sedan when the $700-a-month lease payments became too much to bear.
Valdes turned to LeaseTrader.com, an online service that allows one car lease owner to transfer it to another before it expires. He passed on the remaining 16 months of his 36-month lease to another driver, allowing him to lease a new, cheaper car and lower his monthly car payments.
“With gas and insurance I was paying over $1,000 a month to drive a vehicle and it didn’t make any sense,” said the 27-year-old firefighter who lives in Miami, Fla. my main reasons for getting rid of the lease,” he continued. “Gas prices are going through the roof and the economy isn’t getting any better; everyone hopes it will, but I don’t see it getting any better any time soon. There’s nothing out there that’s going to pick us up.”