So here’s a novel idea. If you can’t find enough people who can afford a new car, ‘sell’ cars to those who can’t afford them with record monthly payments over 5 to 7 years! True this allows the auto makers to report robust sales in the short-run, but we have already seen how the credit-abuse cycle plays out a few times in recent years. Credit is future consumption denied. Future demand grows weaker for longer every day that these short-term gimmicks are embraced.
Phil LeBeau reports on the new ways customers are financing their vehicles. Here is a direct video link.