Donald T asked:


I need financing to purchase a 2000 379 Pete and Doonan trailor. Tractor is fully contained. Trailor has 10 side boxes with all equipment. This truck and trailor are job specific, they are specialized and the job comes with it.

Angel

beavanjb asked:


U.S. auto sales plunge as recession deepens
DETROIT (Reuters) – U.S. auto sales dropped by more than 40 percent in February to the lowest level in almost three decades as Americans pulled back from taking on more debt in an economy showing signs of spiraling from bad to worse.

The results mark the 15th consecutive monthly drop in auto sales and come as a deepening recession in the United States and slowing global markets push major automakers to ratchet back production and ramp up discounts in a bid to survive.

“In our view, we are in an automotive depression,” said Standard & Poor’s equity analyst Efraim Levy.

“Shell-shocked consumers fearful for their jobs, the value of their homes and stock market assets are wary of making the sizable discretionary purchases,” he said.

General Motors Corp (GM.N), which has been kept afloat with $13.4 billion in U.S. government loans and needs more aid this month, posted a sales decline of 53 percent.

Sales at Ford Motor Co (F.N), now considered the best-positioned of the embattled U.S. automakers, dropped 48 percent.

Japanese automakers fared only slightly better with sales drops of 37 percent at Toyota Motor Corp (7203.T) and Nissan Motor Co (7201.T) and 38 percent at Honda Motor Co. (7267.T)

GM said the industry-wide sales plunge brought February sales to the lowest level for the month since 1967.

Automakers said still-incomplete sales numbers pointed toward overall sales for the month of about 695,000 cars, trucks and SUVs — or about 9 million units on the annualized basis tracked by industry analysts.

That annualized sales rate would represent the lowest result since about 1982, based on the initial sales data.

“These are obviously unsustainable levels and will cause almost every major automaker across the world to seek government aid,” said GM’s chief sales analyst Mike DiGiovanni. “Americans are hunkered down.”

Toyota, which passed GM as the industry’s largest automaker last year, said earlier that it had applied for a Japanese government loan to help its finance arm cut funding costs, showing how the industry’s crisis was hitting its best-capitalized player.

U.S. auto sales account for as much as one-fifth of retail sales. The results made it certain the battered sector will be a further drag on a weakening economy in the current quarter.

Ford and GM responded to the weak sales results by dropping planned production for the second quarter. GM cut its quarterly production plan by 34 percent.

Ford said it would cut quarterly production by an even deeper 38 percent, saying it would take a hit by losing revenue in order to keep inventories in check.

HOPES FOR SECOND-HALF TURNAROUND FADING

The No. 2 U.S. automaker has held out hope that sales and the U.S. economy could begin to recover by the second half of the year. It said on Tuesday, however, that nothing in the grim February results supported that view.

“It may be that this month represents the bottom but there is no economic anchor to allow us to make that call definitively,” said Ford economist Emily Kolinksi Morris.

S&P’s Levy said he did not see an uptick in U.S. vehicle demand until the fourth quarter at the earliest.

Meanwhile, there were some worrying signs that retail sales in February had dropped from the already-weak levels of the past four months.

GM and Ford estimated sales of cars and trucks through showrooms to individual car shoppers dropped to an annualized rate of 7 million to 7.5 million in February, down from a rate of more than 8 million in recent months.

That contraction came despite steeper discounts on offer. Industry-tracking firm Edmunds.com estimated that incentives, including rebates and low-cost financing, rose 16 percent from a year earlier to an average of just over $2,900 per vehicle.

Chrysler LLC, which has been hardest hit in the downturn and kept afloat by $4 billion in government aid, led the way on incentives, according to Edmunds.

Chrysler spent more than $6,000 per vehicle on incentives in February, followed by nearly $5,700 at its Dodge brand, Edmunds said.

Korea’s Hyundai Motor Co (005380.KS) outperformed again in a collapsing market. Its sales were down only 1.5 percent.

Hyundai has been buoyed by a highly-touted promotion that allows Americans to return new cars if they lose their jobs.

So, considering Hyundai’s success in January/February with this marketing strategy, don’t you think its about time other manufacturers implement a similar plan? Of course not everybody can sell the same # of cars as previous year, but better then losing 40% of your business each month.

Eileen

Serena asked:


1. Why is it important to maintain a good credit history?
a. Because your family will inherit it, and it’s important to plan for their future
b. Because anyone can access your credit history at any time to learn about you
c. Because a good credit history can generally help you negotiate for a lower finance rate
d. Consumer protection laws state it is your responsibility to maintain good credit

2. What might happen if you fail to make several payments on purchases that you made a year ago?
a. The item(s) can be taken away from you, if the item(s) secured the credit obligation you took on when you bought the items
b. Negative information may be added to your credit report
c. You could be denied credit in the future
d. All of the above

3. How can you find what your credit history looks like?
a. Contact a credit-reporting agency
b. Ask a private investigator to find out all they can about you
c. Look yourself up on the Internet
d. Check your family’s credit history

4. Which of the following is not something a creditor will look at before granting you credit?
a. If you pay your bills on time
b. Where you live and your living arrangements
c. How many credit obligations you have
d. How much you owe on all your accounts

5. Net income is also known as:
a. Taxable income
b. Alimony
c. What’s left after you pay your bills
d. Take-home pay

6. About how much of your monthly take-home pay should your car payment not exceed, after subtracting certain monthly expenses, like credit cards?
a. 5% to 10%
b. 10% to 15%
c. 15% to 20%
d. 20% to 25%

7. In addition to vehicle payment, what other vehicle expenses should be considered in your monthly budget?
a. Insurance
b. Maintenance
c. Gasoline
d. All of the above

8. Which of the following is a contract with a dealership to buy a vehicle on time by paying the purchase price plus an agreed upon finance charge over a certain period of time?
a. Gap protection
b. Aquisition fee
c. Installment sale
d. Residual price

9. What is one of the major differences between buying and leasing a vehicle if you choose to buy?
a. The dealership is listed on the title as the vehicle owner
b. You need to turn in your vehicle to the dealership after a certain length of time
c. You will need to pay a security deposit, acquisition fee and other charges
d. You are the owner of the vehicle and your name is listed on the title

10. Monthly lease payments are usually lower than monthly finance payments when comparing leasing and financing for the same term because you are only paying for the vehicle’s expected depreciation during the lease term, plus a rent charge, taxes and fees.
a. True
b. False

11. When you finance at the dealership, you are entering into an installment sales contract between you and the dealership.
a. True
b. False

12. When you lease a vehicle, you are responsible for excess wear and tear, damage and missing equipment.
a. True
b. False

13. Which of the following items can you negotiate with your dealership?
a. Annual Percentage Rate
b. Length of contract
c. Price of the vehicle
d. All of the above

14. Which of the following can be used to lower your monthly payment?
a. Getting a higher APR
b. Choosing the shortest term available
c. Making a larger down payment
d. None of the above

15. Which of the following are additional items that can usually be added to the finance contract?
a. Optional Credit Life Insurance
b. Option Gap Protection
c. Optional Service Contract
d. All of the above

16. What is the purpose of purchasing optional disability insurance?
a. Covers the gap between the vehicle’s value and what your insurance company provides in the event of total vehicle loss
b. Pays the balance of your contract in the event of your death
c. Makes your scheduled car payment in the event of sickness or disability
d. Protects owners against unexpected major auto repair expenses

17. What is the purpose of a service contract?
a. Adds additional time to the vehicle warranty
b. Protects owners against unexpected major covered auto repair expenses
c. Pays all of the vehicle repairs regardless of the circumstances
d. all of the above

18. It is a normal business practice for the dealer to retain some portion of the finance charge as income for the dealership.
a. true b. false

19.) A rebate is always better than a special finance rate.
a. true b. false

Samuel

Mrs.Banks asked:


My 2000 Chevy Impala is financed through Consumer Portfolio Services. I have recently read so many negative feedback about this company that I didn’t even have time to read everything the consumers wrote. I got the Impala on November 27, 2008. I put two thousand dollars down. The worth of the car was 13,000.00 before the down payment. Since then I have been making payments of 300.00 a month. I just recently checked to see what the balance of my car was and I was appalled that it said my balance was 9,000.00! I have paid 6,600.00 and my balance only moved by two thousand dollars?! I want to mention that yes I do have a high interest rate on this vehicle but there should be no reason that I have paid 6,600.00 so far in monthly payments plus an additional 2,000.00 for a down payment and the balance still sit at 9,000.00 what should I do?
I meant to say that I purchase the vehicle November 27, 2006
The second person who cemmented was all wrong! I have been making payments for 22 months not 10 months learn your math!

Francisco