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Shaman
2014 Sep 8, 2:06am
Shaman
2014 Sep 8, 2:06am
APOCALYPSEFUCKisShostikovitch says
Anyone who can't pay cash for a new car, should not have a license to drive.
I'm for it! Way too many peasants clogging up the roads and freeways.
https://autos.yahoo.com/news/bill-ford-warns-auto-industry-125900646.html
Bill Ford warns auto industry on 7-year car loans
With the auto industry roaring back to life, the executive chairman at Ford Motor warned on Monday that lenders and consumers should not fall back on old habits.
"I think we have to be careful because we don't want to get into a situation like we did before, where consumers are over extended. That doesn't do anybody any good," William Clay Ford Jr., said on CNBC's " Squawk Box ."
His comments come at a time when six- and seven-year car loans are becoming more common, along with incentives and discounts to get people to buy vehicles. Lenders are also relaxing some of the most stringent standards adopted after the 2008 financial crisis.
"We've been relatively conservative at Ford about those types of things," Ford said.
Ford, great-grandson of Henry Ford, also said he's encouraged by "the underlying strength" of the industry.