Re: Vehicle financing interest rates?
One of the true oddities of the automotive business is one would think GM & Ford the only true American mfg's of automobile's, would be in charge of there own destiny.
This is not he case there are many external factor's that greatly influnce these two American giant's.
One is there publicly traded, leaving them to the mercy of some 27-35 year old money market manager,and if he or she does not like there preformance he or she can down grade there bond rating to almost junk bond status ( known as there credit rating) effectivly making the cost of borrowing money go up and that end's up being us. In Ford's case year's ago they gave people loan's far to agressively (to low of intrest) which tended to upset the fin community so There Bond Status Was Lowered making it or forcing them to up intrest rate's .....crude but effective.
Secondly is the last bastion of middle American mfg job's .......yes the union's and health care benefit's now that is going away and if you stroll on a Ford lot you will see pricing that has been reduced by thousand's and that the msrp, not incentive's, they are up.
I know it's frustrating to quoted a high rate, but be careful out there and know your option's, credit union's are a great source for lending............but dont be so short sighted blaming the Mfg this time like or not we are losing a lot and what are we leaving for the next generation ( good paying job's) .......................think of that when you buy a foreign car, it's becoming a real issue like it or not.
