The main difficulty that individuals are being found to buy a car and at the same time benefit from discounts, promotions and grants the government and manufacturers, is whether or not you have all the money in acquiring financing.
And the financial crisis has caused financial institutions give very little credit, at interest rates hovering around 10% and above require a lot of requirements to give us money, so it is very difficult to buy a car in these conditions.
To alleviate this problem and yet this is temporary, the French manufacturer Renault through its financier in Spain has launched an initiative that will provide financing for the purchase of a car. Thus we have until 30 September, the French manufacturer will provide loans up to a maximum of 10,000 euros to an interest rate only 2% taking into account that financial institutions can not find it cheaper 8% -9%, and within three years.
This is an initiative from Renault covering every vehicle in the brand and it is targeted both for individuals and companies not autonomous and fleet owners. Obviously this measure in addition to existing rebates and subsidies in order to increase their sales and that stakeholders will be attracted because the interests are minimal.
A 92 come the U.S. bank failures so far this year. What began in 2007 with three timid bank failures has spread like wildfire: 25 bankruptcy last year and now the figure climbs quickly to the hundred.
Banks Corus, Bank of Chicago, Lacey Washington and Brickwell Community Bank, Minnesota, closed its doors yesterday at a cost to the Fed than 1,700 million.
The financial crisis claims more victims and no single day that Wall Street will not be shaken by evil hanging over the U.S. banking system. The bank closed last week in Missouri, Illinois, Iowa and Arizona. In the coming months further falls are expected in large part by the sharp decline in housing prices and high unemployment which stands at the highest since 1980.
Although the news has not been outstanding, I feel strongly about the news published yesterday that Britain’s Guardian newspaper, which reflects the Spanish press. The FSA, the Financial Services Authority in the UK, was to hours of declaring a “playpen” financial in October 2008.
In those moments he lived the worst of the financial crisis. Lehman had gone bankrupt, and the United Kingdom was hatched against the clock banking rescue plan. The situation was the limit on the weekend of October 10-12. So much so that if the plan did not materialize, the FSA was prepared to make a pen, yes, only applicable to banks RBS and HBOS. If he had come to a drastic situation on Monday, 13 October had not allowed these banks do not withdraw deposits or, indeed, the ATMs have closed.
Instead came the rescue and did not reach the blood stream. What would happen if two of the largest banks in the United Kingdom have closed their doors to depositors? Is the panic generated would have thrown the country into a playpen general, as happened in Argentina in the late 90s?