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Pastimes : Ask Mohan about the Market -- Ignore unavailable to you. Want to Upgrade?


To: Crimson Ghost who wrote (13765)2/2/1998 5:39:00 PM
From: Cynic 2005  Respond to of 18056
 
A snippet from India:
Daewoo motors' Ceilo - a hot selling car in India recently made news in the economic circles. In Jan the price has come down about Rs. 150,000 from Rs. 450,000. So, the people who bought the car with full credit, are telling the banks and finance companies that they will not make payments and letting them repossess the car. They will gain about 60-70k in buying a new car, instead. Why not?

I know, I know. Stringent credit rating is not that prevalent in India - at least not yet.

-Mohan