zabre

There may be a slight problem with the bailout, but that is by the by. Sub-prime is not the problem, the problem is ALT-A. And the UK is rife with ALT-A. Here is an analysis of the sub-prime and ALT-A markets in the USA. Not quite the same as the UK, but similar enough. www .youtube com/watch?v =pmeBSWI9sF8 Summary: ALT-A debts = 400k average Sub-prime debts = 200k average. ALT-A are not subprime they are full documentation (non-liar loan, good credit score) debts, now defaulting at similar levels to subprime approx. 1 year earlier. The Middle class that have removed equity from their homes (holidays and flash cars) will be feeling the pinch pretty soon.

I once put in a cheeky offer and they very politely refused, their cars aren't the cheapest but that's the usual with most dealers.