NJFBOA - Home of New Jersey's Camaros and Firebirds - View Single Post

Untamed · 06-17-2009, 01:02 PM

Without knowing more about the plan and where the money is actually coming from, I look back to the real estate market with the balloon loans and sub prime mortgage market for lessons learned - if you give money to someone who can't afford to buy something, and they enter into a payment program they cannot afford to sustain, then we will all be in worse shape than we are now.

The inability to afford a down payment is what is keeping deadbeat payers away from car loans. Give them $4500 and we'll be in even worse shape than we are now.

06-17-2009, 01:02 PM	#15
Untamed Join Date: Aug 2004 Location: Hillsborough, NJ Posts: 3,200 iTrader: (1)	Without knowing more about the plan and where the money is actually coming from, I look back to the real estate market with the balloon loans and sub prime mortgage market for lessons learned - if you give money to someone who can't afford to buy something, and they enter into a payment program they cannot afford to sustain, then we will all be in worse shape than we are now. The inability to afford a down payment is what is keeping deadbeat payers away from car loans. Give them $4500 and we'll be in even worse shape than we are now. __________________ I USED TO HAVE an 85 Camaro 305 4bbl, 90 Firebird V6, 97 Firebird V6 (10 speakers!). Despite the two family vehicles, 3 kids, wife and mortgage, I can finally realize the dream - 88 TA almost all stock... for now. http://www.cardomain.com/id/untameddave Wanted this - , but ended up with this - for free. Can't argue with free.