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RE: Not Even Central Banks Can Stop the Impending Credit Crunch. Part 2
This is really good informative post. we always inform your post...thanks a lot..
This is really good informative post. we always inform your post...thanks a lot..
Thanks @beautybangladesh!
Hey Mario thanks for the info. I have a question if we are likely going to see a major credit crunch, which I assume will see higher interest rates and less credit for people, is it better to get credit for items now or wait. Obviously it is always best not to borrow to buy an item, but cars in U.K. are so expensive now I don't see how most people can buy them without credit. If you need to buy a new car this year, is it better to buy now on credit which is cheaper and easier to get, or wait ? I guess prices might become cheaper later, but credit more difficult to come by
Hi @batfinkler, If you are able to get credit always make sure you can afford to cover the cost in case of loss of income. As for interest rates they might not be going up that much in the U.K. but they are in the U.S. and that will have a big impact world wide as the dollar is still the reserve currency.
Thanks Mario. I guess what I'm trying to get at, if you are confident employment is relatively safe, and also need credit for he purchase items, isnit better to buy now or after a credit crunch hits. Before I imagine credit will be cheaper and easier, whereas afterwards it will be more expensive and harder, although goods maybe cheaper ? I heard of Libor coming to end, which means companies can change the interest rate after you agree it ?