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Toyota, better car; Toyota buyer, better customer

Discussion in 'Fred's House of Pancakes' started by JackDodge, Aug 22, 2007.

  1. JackDodge

    JackDodge Gold Member

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    http://www.businessweek.com/magazine/conte...htm#ZZZ2Y7YT45F


    An interesting study reported by BusinessWeek recently tells us that people who buy Saturn are 22 times more likely to default on their car loans than buyers of Toyotas. And, buyers of American cars, in general, are more likely to default on their car loans than buyers of Japanese or European cars. While the general belief that Japanese cars are just built better, last longer, are more reliable and have better resale, this suggests, at least to me, that the better customers gravitate to the better cars. This would be a double whammy for the Detroit 3 since not only are their cars perceived to be inferior, this study indicates that they also attract the least desirable customers. Possibly because buyers of Toyotas buy with their heads and buyers of American cars buy with their emotions.
     
    #1 JackDodge, Aug 22, 2007
  2. eagle33199

    eagle33199 Platinum Member

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    #2 eagle33199, Aug 22, 2007
  3. Guest1969

    Guest1969 New Member

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    Oh what a crock. You can't judge this on what car people buy. Does that mean that you can determine who is going to have their house foreclosed based on who the contractor was that built it or what brand of flooring they used? Give me a break. The Prius is a good car, but to come up with some cock-a-mamie story wherein the financial responsibility of the owners of certain makes is higher than with other cars is just stupid, especially when the article is giving the credit (no pun intended) to the auto company instead of the consumer. Toyota has nothing to do with it.
     
    #3 Guest1969, Aug 22, 2007
  4. eagle33199

    eagle33199 Platinum Member

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    <div class='quotetop'>QUOTE(Guest1969 @ Aug 22 2007, 09:27 AM) [snapback]500245[/snapback]</div>
    You're a little off base there... Don't you remember all the commercials the American car companies were running? "$0 down, interest free financing for a year!", etc. People who aren't on very firm financial footing are really attracted to these deals - it puts the pressure of paying off the car into the future, while they have the benefits of the car now. Foreign manufactures, in general, didn't run deals like these, and as such those individuals couldn't afford to shop there. If you're strapped for cash and need a car, where are you going to buy, someplace that lets you drive off without giving them a penny, or someplace that requires 3k in down payment before you can touch the car?

    The difference isn't in the quality of the car, it's design, or any facet related to engineering. It's in the financial practices that these companies use to attract their buyers. The end result is the same though, and the numbers gathered pretty much prove that out.
     
    #4 eagle33199, Aug 22, 2007
  5. Godiva

    Godiva AmeriKan Citizen

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    <div class='quotetop'>QUOTE(Guest1969 @ Aug 22 2007, 09:27 AM) [snapback]500245[/snapback]</div>

    No, but you can determine who is going to have their house foreclosed on based on who holds the mortgage. And if a contractor specializes in a lender that specializes in the subprime market, that contractor and that housing development is going to have a higher incidence of foreclosures.
     
    #5 Godiva, Aug 22, 2007
  6. JackDodge

    JackDodge Gold Member

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    <div class='quotetop'>QUOTE(Godiva @ Aug 22 2007, 11:23 AM) [snapback]500276[/snapback]</div>
    Yeah, and the Detroit 3 have positioned themselves as the low cost blue-light special of automobiles. They've been catering to the people who don't care how good it is, just that it's the cheapest. Meanwhile, the people who want real quality, care about the long term, have moved on to foreign manufacturers and don't care that we have to pay a premium for the car. I get great mileage, never have to go the dealer for anything but routine maintenance and the car is holding around 75% of it's sticker price. You can't even get that from Cadillac in some cases and you don't have to fork over big bucks for a Prius.
     
    #6 JackDodge, Aug 22, 2007
  7. Tideland Prius

    Tideland Prius Moderator of the North
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    Let's see.. I have an ad right here..

    2007 Dodge Caravan. MSRP: Cdn$27,990
    Total Discount of: $8,991
    Your Best Price of the Year: Cdn$18,999 (excludes $1,300 freight) damn that's expensive freight!!


    The catch? it only applies to one particular model of the Dodge Caravan (whatever 28S+MWG) is and there's only one in stock.
     
    #7 Tideland Prius, Aug 22, 2007
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