Archive - January, 2009

"Dreamers of the Day"

Your dreams may be the real beginnings of the future you want.

In Seven Pillars of Wisdom, T.E. Lawrence says, “There are dreamers, but not all human beings dream equally. Some are dreamers of the night, who in the dusty recesses of their mind dream and wake in the morning to find it was just vanity. But the Dreamers of the Day are dangerous people because they act their dreams into reality with open eyes.”

No Way — Hyundai!

Here’s another ridiculous “bail-out” offer.  Hyundai has announced they will allow a customer to buy a new car and then return their Hyundai vehicle if they experience “an involuntary loss of income”, i.e., lose their job within 12 months of purchasing one of their ten new vehicles.

Just a few details.  Hyundai will absorb up to $7500 in negative equity for buyers who walk away from their loans.  Let’s see – the MSRP on a basic Sonata sedan is $24,050.  So if a year from now you turn that baby back in, they may decide it’s worth only $12,050 – which is about what a year old Sonata is selling for now.  If you had paid $2000 in payments during that year, and they absorb the $7500 “negative equity,” you would still owe $2500.  And now you have no car and bad credit.

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