Chase Terminates Chrysler Dealer Loans

Robert Farago
by Robert Farago

One of our sources reports that Chase has just told Chrysler dealers that it will no longer loan them money to buy Chrysler products.

Just got the call. Chase has officially terminated the floorplanning of Chrysler vehicles. Given the freeze at CFC [Chrysler Finance], now nobody can buy cars. Supposedly the haulers won’t deliver units because of payment concerns. A suggestion: see if the sales projections match the dealer network. My take is they aren’t even close . . . meaning, the expected losses to the taxpayer are going to be through the roof.

Robert Farago
Robert Farago

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  • Wsn Wsn on May 06, 2009
    menno : May 6th, 2009 at 1:39 pm If you have a money, in any place, someone can print so much more of it and redistribute it that it can make the pittance you have virtually worthless. A criminal act?” Point is - money we think is “ours” and “secure”? Can evaporate instantly. -------------------------------------------- Very very true. And that's why most Americans only borrow and don't save. No, they are not stupid. The savers are stupid and being gradually phased out by Darwinism.
  • Ddr7 Ddr7 on May 06, 2009

    Ferrygeist : The tax break is on almost any vehicle http://www.irs.gov/newsroom/article/0,,id=205863,00.html dror

  • Kowsnofskia Kowsnofskia on May 06, 2009

    "Very very true. And that’s why most Americans only borrow and don’t save. No, they are not stupid. The savers are stupid and being gradually phased out by Darwinism." I don't think most Americans have the wherewithal to realize this is the case. Most of them are thinking "how much can I afford a month"

  • ZoomZoom ZoomZoom on May 07, 2009
    WSN: “Very very true. And that’s why most Americans only borrow and don’t save. No, they are not stupid. The savers are stupid and being gradually phased out by Darwinism.” Yup, I just said the same thing about the sign guys. They're not stupid. They keep coming back to the same corner because they are rewarded nearly every time. kowsnofskia: I don’t think most Americans have the wherewithal to realize this is the case. Most of them are thinking “how much can I afford a month” Maybe they don't have the presence of mind to realize it consciously. But I must wonder...are they possibly a superior being, already adapted for the begging of the future?
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