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Discussion in 'General Discussion' started by Robbo, Nov 30, 2008.
and of course Joe Public to increase their personal borrowing to kickstart spending.....
I take your point, but if all personal spending is fuelled by increased credit, what is the conclusion?
It's become apparent that my dealership's Service Manager has "gone" and now the Parts Manager is doubling up.
Apparently in the groups which own several dealerships this has happened a lot recently, or the relevant manager has become responsible for mutliple sites.
Gotta keep warm somehow
not surprising as they have not sold many cars at all ...
It's really about confidence.
Has the availability of credit for vehicle purchases dried up? I don't think it's credit availability that's holding back the car market.
Certain aspects of the car market are holding up strongly, ie the Sub £5k market. People are trading down and at this end of the market you will only need a small loan, if any at all, and you can get a more than respectable car in this price range which will tie you over until things get better....which I suspect won't be for another 18-24 months.
You must be too young to remember the early '80's then. This is a storm in a teacup.
The only reason this is making news is because there has been too much easy credit which has now been withdrawn
In reality it should be business as usual but people need to live within their means.
Yeah , my dad was grizzling to me the other day about the interest rates in the 80's .... i was no doubt moaning about mortgages or something ...
Was really bad apparently , interest rates of 15%+ .... if that happened nowadays , i'd be living in a telly box under the bridge.
Nope, I lost a house in the last crash with negative equity etc etc....
This is a whole different ball game, I'm suggesting it's bad becasue we're not even into it completely yet.....We're only at the start.
I don't mean the house price bubble in 1988, I mean the deep recession from 1980 to 1986. It was bad, people really were living in Cardboard City.
That's an address you don't want , along with Death Row ...
That though is preferable to Torture Chambers.
I am pleased to report that this is not true.
I was told by a very senior person there: - "I'm pleased to confirm that Greenoaks is a privately owned company, which is very well funded. There is no truth in this rumour."
Most personal spending comes out of earnings or pensions and some from withdrawing past savings. Some from selling assets.
Spending based on borrowing is different. If you buy a meal out and go to a show and put it all on a credit card it increases your standard of living while you borrow (you get a meal etc you didn't have before), but when you come to pay it back it reduces your standard of living by the same amount you borrowed -PLUS the interest you pay.
I have just done that Dave.....:bannana: :bannana:
If this is the case then I would suggest getting rid of this topic. Business is hard enough with out false information like this.
We should perhaps seek out the source of this 'rumour' and pass their details onto Greenoaks
did you ever know that you're my hero?
and everything I would like to be
I can fly higher than an eagle,
because you are the wind beneath my wings!
Yes, that is very good news.
The source was quoted on another forum and allegedly originated from an insider at the local Chambers of Commerce. Sounds like it is a load of rubbish.