Economy------.

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  • Saw this in the paper yesterday. Seven Million Americans Delinquent on Auto Loans Could Be a Bad Sign

    https://www.caranddriver.com/news/a2...rs-delinquent/
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    • When Ford Motor Credit, Chrysler Finance and GMAC will lend money to anyone anytime to make cars disappear and car dealers pile on additional loan costs to unsuspecting buyers it's no wonder to me. F and I guys at car dealers will even take advantage of their own salespeople to pad their own pockets. And leasing probably creates its own issues on this subject.

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      • Originally posted by Parker Yacht View Post
        Saw this in the paper yesterday. Seven Million Americans Delinquent on Auto Loans Could Be a Bad Sign

        https://www.caranddriver.com/news/a2...rs-delinquent/
        I read that too, hmmmmm
        ‘12 Blackwood 27 - sold
        '17 Nor-Tech 340 - sold
        '18 Fountain 38 - sold
        ’19 Invincible 36 - 350 Verado’s

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        • I move the economy physically, but as I'm cheap and keep things long term, I don't help out much with consumer spending.
          I've shown a loss of over 30k in my 401, it doesn't bother me in the slightest, I have a long term goal, and I only open up statements quarterly!
          Being a good steward has helped me through 55 years thus far!
          BWP

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          • Credit Card Debt

            https://www.bloombergquint.com/busin...rd-870-billion
            ‘12 Blackwood 27 - sold
            '17 Nor-Tech 340 - sold
            '18 Fountain 38 - sold
            ’19 Invincible 36 - 350 Verado’s

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            • It's coming, it has too.
              At some point it reaches the end.
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              954.463.4904
              Toll Free: 800.622.6747

              oparker@parkeryacht.com
              www.parkeryacht.com

              Member of the MSHS Group

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              • I agree, it's coming. Eventually.

                But I don't put any weight on CC debt as any kind of indicator. We've simply reached an era where too many consumers and businesses don't believe in cash any more. Hell, these days when I try to pay for things with a check, clerks look at me like I have 2 heads. Some places just say no. I find I'm carrying far more cash than I ever used to. Even paying with the green seems to confuse some clerks.

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                • I was fixin' to buy a new iPhone the other day at Costco Verizon. Salesperson told me I couldn't just pay for the phone outright, even though all the plans work that way now. I would have to put it on their 24 month no interest payment plan, then be billed for the first month, and then pay the whole thing off. Huh? I just assume they get spiffs.

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                  • I use plastic for almost everything. But here is the thing. I carry no balance I pay off the charges each month in full and pay no interest. And get back cash bonuses some as high as 4%. So in my case it pays to use the card...Charlie

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                    • I use my debit card everywhere I hate caring cash. But little fact most people dont know. The vendor pays the rewards on a credit card transaction not the card companies.

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                      • Originally posted by Adam9066 View Post
                        I use my debit card everywhere I hate caring cash. But little fact most people dont know. The vendor pays the rewards on a credit card transaction not the card companies.
                        And that is precisely why many businesses limit the amount that they will accept on a credit card due to the 2-3% or more that they have to cover as a result

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                        • Then you have gas stations who give a cash discount. Usually about 4 to 10 cents a gallon off for cash. I wonder how many people pay with cash VS credit at those places? Also I know of a couple of restaurants that don't take credit but have an ATM machine in there. I stopped going to those places but wonder how much business they loose because of it? Interesting...Charlie

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                          • Originally posted by Mako runner View Post
                            Then you have gas stations who give a cash discount. Usually about 4 to 10 cents a gallon off for cash. I wonder how many people pay with cash VS credit at those places? Also I know of a couple of restaurants that don't take credit but have an ATM machine in there. I stopped going to those places but wonder how much business they loose because of it? Interesting...Charlie
                            Hunh, what, why?
                            You don't go because they won't take plastic or because they charge you for it?
                            Engine Sales and Service
                            Ph +1 954.463.1515
                            Fx +1
                            954.463.4904
                            Toll Free: 800.622.6747

                            oparker@parkeryacht.com
                            www.parkeryacht.com

                            Member of the MSHS Group

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                            • Originally posted by Parker Yacht View Post

                              Hunh, what, why?
                              You don't go because they won't take plastic or because they charge you for it?
                              In the two restaurants I am talking about it is only part of the reason I don't go there. In one of them the service is very slow and the other has a very limited menu. Both things I could overlook but then add the inconvenience of having to have cash or paying ATM charges and I just go elsewhere. Plenty of other places to go and spend money. Personally I think they are being penny wise and dollar foolish. But that's just my opinion...Charlie

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                              • Originally posted by erie skipper View Post

                                And that is precisely why many businesses limit the amount that they will accept on a credit card due to the 2-3% or more that they have to cover as a result
                                I don't in my repair shop. It's so much easier to take a card here a lot of places charge a 2.5 convenience fee for using a card we dont. We have had transactions north of 15k.

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