View Poll Results: Would a Hot Rodders Federal Credit Union work????
- Voters
- 23. You may not vote on this poll
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Heck yes, I'd like to put some of my savings where it can help others!!!
4 17.39% -
No way it would ever work!!!
6 26.09% -
It just might work...
10 43.48% -
I'm independantly wealthy, never have to borrow money, and keep my cash in my mattress......
3 13.04%
Thread: Just a thought......
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02-03-2011 08:50 PM #6
CHR Member
- Join Date
- Jan 2006
- Location
- fort myers
- Car Year, Make, Model: '27 ford/'39 dodge/ '23 t
- Posts
- 11,033
In one of my former lives I was a Credit Manager, both retail and industrial. When you are making the decision as to whether you are going to loan someone your money you have to assume that they may not pay you back and you will have to use whatever collateral they have put up to recoup some or all of your money. It is easier to get a brand new car financed than one that is several years old because the lender knows he has a better chance of getting top dollar out of a new one as opposed to an older car. I understand now that it is impossible almost to get a loan for a car older than 7 years.
DonLast edited by Itoldyouso; 02-03-2011 at 11:22 PM.
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A belated Happy 78th Birthday Roger Spears
Belated Happy Birthday