The call came in today from one of the buyers I was working with. "If I buy a new Pontiac now, they will send me $7000 and I can get another $5000-6000 off the sticker price. The house will have to wait!"
$8000 for the house isn't enough to stop him, he can drive the car off the lot today, not wait 60 days for the house to close.
I have a call into the lender to see what this will do to his loan status, but I'm sure his DTI will be over the limits.
I'm ready for 2009 to be behind me...
I don't understand the logic of some people. Instead of investing their money in a home where they are bound to realize equity, they'll purchase a vehicle that depreciates the moment they drive it off the lot.
Seems to me that this buyer is one of those people not responsible enough to be a home owner from his attitude. I too am glad to see this year closing and may we all have a better 2010. Happy New Year.
Yikes. I can understand the temptation of a new car... but for me- a home, at 2004 prices, with historicly low interest rates, and an $8,000 tax rebate holds far more temptation!!
I too am ready for 2010!
Sandy - I think it's the instant gratification he's after.
Tammy - Unfortunately [or fortunately] you are right.
Debi - I don't understand how 'our' car company can make such an offer. Or did GM pay off the loan?
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