Thursday, July 31, 2008

The End of an Ugly Era.......I Hope

Chrysler announced this week that they are going to stop leasing new cars and trucks. With rising costs of fuel and rapid depreciation of pickups and SUVs, auto makers are losing their shirts on bad leases. Look for Ford and GM to follow suit. All I can say is, Yaaahhhhoooo! Leases are terrible ideas for consumers. They take advantage of "payment" shoppers with over priced, high financed, low value deals that usually have a big bite up front or a wicked sting in the tail at the end. I'm not sad they're gone. You can read what had to say about it HERE.

In a related note, this decision shows how the free market will govern itself. It was market conditions rather than Government intervention that ended this rip off practice. We should allow the marketplace to eventually end the Pay Day Loan industry, too. I hate those places, but Govt. should stay out of it. They should also stay out of the restaurant business. I read this week that some parts of L.A. are considering banning new fast food restaurants, because people are too fat. They may only grant permits for restaurants offering "healthier fare". Folks, that's what happens when you want the Government to take care of you. They take over. And that's bad for all of us. Left alone, market forces will take care of themselves.


snobound said...

Excellent news on the lease front. Unbelievable stupidity in California - that's not really news though, is it?!