Lots of personal debt out there, secured on depreciating assets... https://www.theguardian.com/business/20 ... ments-help
The last credit crisis was unsustainable mortgages, these loans don’t look much better.
Debt and economic risk
Debt and economic risk
Last edited by Stephanie on Thu May 14, 2020 10:03 am, edited 1 time in total.
Reason: Moved from Weighty Matters
Reason: Moved from Weighty Matters
Re: Debt and economic risk
We talked about those car loans on another forum. Millions of people never own a car, just keep renewing these schemes every 3 years. They get to drive lovely new cars all the time, but are always paying for the steepest part of the depreciation curve.
I was thinking it was a great time to replace my car, but it's not quite knackered enough yet. And I haven't driven it for 4 weeks. But there must be some fabulous deals out there.
I was thinking it was a great time to replace my car, but it's not quite knackered enough yet. And I haven't driven it for 4 weeks. But there must be some fabulous deals out there.
Awarded gold star 4 November 2021
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Re: Debt and economic risk
Mortgages are still a much larger issue than car loans (worth £1 499 billion).plodder wrote: ↑Wed Apr 08, 2020 7:19 amLots of personal debt out there, secured on depreciating assets... https://www.theguardian.com/business/20 ... ments-help
The last credit crisis was unsustainable mortgages, these loans don’t look much better.
Perhaps lpm should start looking out for good property deals.
Re: Debt and economic risk
House prices will be way down, except that it has been frozen. No way of telling how it will respond when it reopens - which could be a year or more.
But cars sitting on forecourts need to be sold ASAP by companies eager for cash, even before any impact of cars being returned by unwise lessors.
But cars sitting on forecourts need to be sold ASAP by companies eager for cash, even before any impact of cars being returned by unwise lessors.
Awarded gold star 4 November 2021