Are the new car sales loans coming from Cash 4 Clunkers, going to be bad, for the same reasons the home loans?
went bad? Think about it, a person who trades in a car worth $ 4500 or less and then is forced to buy a new car. Now if they could only afford a car worth $ 4500 today, how are they going to afford the payments and insurance on a new car tomorrow? A few maybe, but how many people got into risky loans, loans they could not afford, just like the home mortgage mess, because it sounded like the government was almost giving you a car. Do you think a portion of these loans are risky and will go bad, just like the home mortgage loans?