Government to offer loans to buy cars

mramra

geoffky wrote: »

BUT this money is from all of us...the taxpayers money..did you not read the thread?

Sorry, wandered a little off thread regarding mizzbiz's first post (no-one should borrow to buy a car etc.). I responded specifically to this point and the discussion wandered off on a tangent.

As I stated in my last post, I don't agree with using taxpayers' money in this way.

StevieJ

geoffky wrote: »

BUT this money is from all of us...the taxpayers money..did you not read the thread?

Sorry I missed the point there, I thought they were loans, probably at exhorbitant interest rates. You mean we are actually just giving them the money :eek:

hearts

StevieJ wrote: »

Did the Tories not come out with last year, no 2007

We see no need to continue to regulate the provision of mortgage finance, as it is the lending institutions rather than the client taking the risk.

Classic :rotfl: You couldn't make it up.

A move that had the other party been in power, could well have been made by them.
Lets not forget the problems here were caused by Banks buying blocks of overpriced US mortgages. These problems were caused not by any particular government but by an ideology that is coming to it's end.
Rather than instal a tory government at the next election we would be far better off with a government that has an idea of what socialism is, because the way things are going these are the skills that will be needed.

piggeh

To be honest I'm pretty sure many consumers are able to borrow funds if they really want a car. Has anyone here actually been turned down for a loan recently for a car purchase who would have got one before? The volumes are only down about 20% or so. That suggests 80% are still finding they are able to buy cars so maybe the other 20% are just those who now realise that credit is unaffordable/have lost their job/now see sense. Whose fault is it that these carmakers based their profits on sustaining the same numbers?

This is more worrying anyway...

http://online.wsj.com/article/SB123293545935214449.html?mod=#articleTabs%3Darticle

If Visteon go under that's 6 manufacturing plants in the uk gone, plus some R&D as well.

Cleaver

mizzbiz wrote: »

Well, I saved up £1k to buy a car that has lasted me five years and is still going strong. What is wrong with people buying what they can afford? .

You can still get a loan for a car and 'afford' it.

mower5

hearts wrote: »

A move that had the other party been in power, could well have been made by them.
Lets not forget the problems here were caused by Banks buying blocks of overpriced US mortgages. These problems were caused not by any particular government but by an ideology that is coming to it's end.
Rather than instal a tory government at the next election we would be far better off with a government that has an idea of what socialism is, because the way things are going these are the skills that will be needed.

We need a new capitilist government to harness peoples natural self interest, thereby creating wealth which will be the only solution to pull the rest of the population out of a giant hole being dug by the present incumbant socialist

StevieJ

hearts wrote: »

A move that had the other party been in power, could well have been made by them.
Lets not forget the problems here were caused by Banks buying blocks of overpriced US mortgages. These problems were caused not by any particular government but by an ideology that is coming to it's end.
Rather than instal a tory government at the next election we would be far better off with a government that has an idea of what socialism is, because the way things are going these are the skills that will be needed.

Yes, I guess we should all vote Liberal

mewbie_2

Rochdale_Pioneers wrote: »

So: a) Subsidy to keep them open, (b) let them die, (c) ??? Those of you who are bashing this have another suggestion to a or b do you?

Yeah. Let them drop their prices, take a profit hit. Pain for the shareholders not the taxpayer.

mower5

Rochdale_Pioneers wrote: »

Its like this. We have the most efficient car industry we've ever had, including such jewels as Nissan Sunderland, Honda Swindon and Toyota Derby who make hundreds of thousands of vehicles we export to Europe every year. At the moment this industry is on its knees because consumers here and in Europe cannot get credit to buy a car or anything else.

So, do we let these factories shut and let production go abroad when things pick up? Or do we do as other governments have done for years and provide a subsidy? In this case its not the direct subsidy France gives to prop up its inneficient car industry, its aimed to pulling vehicles through the production line.

So: a) Subsidy to keep them open, (b) let them die, (c) ??? Those of you who are bashing this have another suggestion to a or b do you?

(c)I suggest they retool and produce stuff people want to buy. Isn't that what successful businesses have always done? off the top of my head how about building genuinely eco friendly cars

hearts

mower5 wrote: »

We need a new capitilist government to harness peoples natural self interest, thereby creating wealth which will be the only solution to pull the rest of the population out of a giant hole being dug by the present incumbant socialist

It's Capitalist greed gone berserk that has caused this mess. How can anyone possibly blame this on the government? Had it not been for a good old socialist buyout where would we be now. ;-)
Anyway, my point was merely that both the Tories and Labour are much of the same thing now. One moved to the left and the other to the right and met in the middle. Whoever it is they have a job on their hands ;-) Personally I don't think it matters much.