SRiC Specific: Bailout/Wallstreet Catastrofail Discussion thread
Warm Fuzzy Admin
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From: Sacramento, CA
Car Info: 97 LOB, 05 FXT, 03 Tundra
Actually, if there's a 5-10 year period where people aren't buying new cars or being concerend with warranties, that's pretty good for a repair/tuning establishment........those old cars have to keep running, right? 
I've spent near the KBB of my car to put a replacement drivetrain in it becuase I couldn't replace the car for double that value.
I've spent near the KBB of my car to put a replacement drivetrain in it becuase I couldn't replace the car for double that value.
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I want to agree with you, because I don't want to be 11+trillion in debt. The problem is, no one can buy a WRX cash, even if they had the money to do so they don't. No one in thier right mind will finance a car at 20%, but that might be the only alternative when banks fold. The banks that make it will raise the price of money. Credit cards, corporate loans, everything. I know you probably have a great pipeline of work, because I hear you do quality (reach around included) work, but if there is a 5-10 year period where people with good credit aren't buying cars you and I will be affected.
how many people NEED to go out an buy a brand new WRX? no one. No one in their right mind pays MSRP for a car anyway. also, saying "no one" buys cars cash is a misnomer... since I paid cash for the LGT. all those people who sucked equity out of their houses probably paid cash for their E55's.
Simply buying all the bad debt doesnt fix the fundamental problem that our lending system is broken. it allows people to borrow far beyind their means when credit is cheap... and credit is STILL cheap.
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In the early '80's, the interest rate was about 20%, and I do believe cars were still purchased.
Granted, they were ****ty cars, but cars none the less.
BTW, I paid cash for my STi.
From AutoWest.
Granted, they were ****ty cars, but cars none the less.
BTW, I paid cash for my STi.
From AutoWest.
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From: Funtown
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Word. I spent a fair amount on the RS this year as well. I intend to keep it, and my wagon far beyond the point where they're paid off. Paul will be, uh, servicing me for years to come.
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From: trunk monkey
Car Info: 92 Paseo with spinaz, 2011 tooth white wrx
i dont no which bit of bull**** to attack first in this statement.
how many people NEED to go out an buy a brand new WRX? no one. No one in their right mind pays MSRP for a car anyway. also, saying "no one" buys cars cash is a misnomer... since I paid cash for the LGT. all those people who sucked equity out of their houses probably paid cash for their E55's.
Simply buying all the bad debt doesnt fix the fundamental problem that our lending system is broken. it allows people to borrow far beyind their means when credit is cheap... and credit is STILL cheap.
how many people NEED to go out an buy a brand new WRX? no one. No one in their right mind pays MSRP for a car anyway. also, saying "no one" buys cars cash is a misnomer... since I paid cash for the LGT. all those people who sucked equity out of their houses probably paid cash for their E55's.
Simply buying all the bad debt doesnt fix the fundamental problem that our lending system is broken. it allows people to borrow far beyind their means when credit is cheap... and credit is STILL cheap.
I was using the WRX example in response to Paul, not you. You are wrong about people not paying msrp for cars and I'd be willing to bet my paycheck that some people still do. I never mentioned anything about msrp anyways, where did you get that from? You're right about not everyone financing; I'm glad you can pay cash, but the majority of people buying new cars can't afford to pay cash. I can show you the ratio of cash vs. credit buyers if you want. I also never once said that buying all bad debt will cure the problem. Thanks for attacking my bull**** statement with items I never mentioned.
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I was using the WRX example in response to Paul, not you. You are wrong about people not paying msrp for cars and I'd be willing to bet my paycheck that some people still do. I never mentioned anything about msrp anyways, where did you get that from? You're right about not everyone financing; I'm glad you can pay cash, but the majority of people buying new cars can't afford to pay cash. I can show you the ratio of cash vs. credit buyers if you want. I also never once said that buying all bad debt will cure the problem. Thanks for attacking my bull**** statement with items I never mentioned.
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From: Sac
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I was using the WRX example in response to Paul, not you. You are wrong about people not paying msrp for cars and I'd be willing to bet my paycheck that some people still do. I never mentioned anything about msrp anyways, where did you get that from? You're right about not everyone financing; I'm glad you can pay cash, but the majority of people buying new cars can't afford to pay cash. I can show you the ratio of cash vs. credit buyers if you want. I also never once said that buying all bad debt will cure the problem. Thanks for attacking my bull**** statement with items I never mentioned.
so what if the majority of people buying new cars cant pay cash, maybe they shouldnt be buying **** they dont need on credit. i geo metro will still get you where you are going.
and as far as "items [you[ never mentioned".... its called rational inference. when you make an uneducated and irrational post full of generalities i can apply your remarks to anything that fits the bill.
i lold
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