I recall going to look at a car here in the UK some time ago and the first thing the salesmen asked was were we paying for the car with cash or did we need finance - a rather strange question that now makes sense. People here are now being able to claim for mis-sold auto loans:
This is not the negative equity question that first got my attention but it is interesting to see how large loans attracts the ‘cowboys’. I’ve just spoken to a relative who works in finance/loans and he didn’t think that anyone would do a straight ‘negative equity’ loan rollover. Like me he found it a bit strange.
Agreed. It was more of an observation that it is considered perfectly normal to rent shelter but not transportation. A matter of expectations, I guess.
The “economically active” US economy is limited to the Top 10% enjoying large stock market gains.
Most people still haven’t figured out that working for wage & salary income is just about the dumbest thing you can do, tax-wise, and they’re doing what they can to keep up.
