mercenarul Posted August 2, 2007 Share Posted August 2, 2007 Dixon Motors - one of the UK's biggest car dealerships - is to close more than half of its network of franchises with the loss of 800 jobs. Quote Link to comment Share on other sites More sharing options...
AteMoose Posted August 2, 2007 Share Posted August 2, 2007 (edited) Dixon Motors - one of the UK's biggest car dealerships - is to close more than half of its network of franchises with the loss of 800 jobs. Seems? its not according to the BOE its has been rising since 2005. MEW/HEW now accounts for 6% of post tax income http://www.bankofengland.co.uk/statistics/...7/mar/index.htm Edited August 2, 2007 by moosetea Quote Link to comment Share on other sites More sharing options...
Bearback Posted August 2, 2007 Share Posted August 2, 2007 Looks like the sales are stalling. Quote Link to comment Share on other sites More sharing options...
Matthew Posted August 2, 2007 Share Posted August 2, 2007 Looks like the sales are stalling. Actual UK registrations in 2007 are up 2% on the firtst half of 2006 (Source ACEA). But this doesn't tell what cars are being registered. Matthew Quote Link to comment Share on other sites More sharing options...
markinspain Posted August 2, 2007 Share Posted August 2, 2007 Actual UK registrations in 2007 are up 2% on the firtst half of 2006 (Source ACEA). But this doesn't tell what cars are being registered.Matthew More Fxxxtons minis - Quote Link to comment Share on other sites More sharing options...
The Ayatollah Buggeri Posted August 2, 2007 Share Posted August 2, 2007 It would be interesting to know what the deregistration/scrapping figures are relative to previous years: that would give an indication as to whether cash-strapped consumers are nursing their old bangers for longer, because they can't raise the capital to replace them. Quote Link to comment Share on other sites More sharing options...
29929BlackTuesday Posted August 2, 2007 Share Posted August 2, 2007 Most likely selling them at knock down price to rental firms or pre-registering them themselves and parking them off the M5 at Bristol.. Quote Link to comment Share on other sites More sharing options...
notthereyet Posted August 2, 2007 Share Posted August 2, 2007 Dixon Motors - one of the UK's biggest car dealerships - is to close more than half of its network of franchises with the loss of 800 jobs. Lenders will want a percentage barrier between what a property is valued today and what the total money is mortgaged on a property and as prices of property become static and start to drop they will be less willing to mew as they are uncertain about the security of the money loaned. Quote Link to comment Share on other sites More sharing options...
Dubai Posted August 2, 2007 Share Posted August 2, 2007 The other thing.... money obtained by MEW is not free money (as some people seem to think). It's additional borrowing and has to be paid back. Sorry to state the obvious but some posts I've read (not necessarily here) seem to treat it as money earned on the value of the house. Quote Link to comment Share on other sites More sharing options...
huw Posted August 2, 2007 Share Posted August 2, 2007 Seems? its not according to the BOE its has been rising since 2005. MEW/HEW now accounts for 6% of post tax income It is dangerous to confuse borrowing, or drawing down of savings, with income; the BoE wording is HEW as a percentage of post-tax income. Quote Link to comment Share on other sites More sharing options...
winkie Posted August 2, 2007 Share Posted August 2, 2007 The other thing.... money obtained by MEW is not free money (as some people seem to think). It's additional borrowing and has to be paid back. Sorry to state the obvious but some posts I've read (not necessarily here) seem to treat it as money earned on the value of the house. A MEW is just a loan...that you have to pay back with interest...with the added disadvantage that you put your home at risk, if for whatever reason you are unable to keep up repayments, and not only that you could find yourself paying a large arrangement fee just for the privilege of having it. Quote Link to comment Share on other sites More sharing options...
tinecu Posted August 2, 2007 Share Posted August 2, 2007 Dixon Motors - one of the UK's biggest car dealerships - is to close more than half of its network of franchises with the loss of 800 jobs. Its not sales that's the problem IMHO, its the company debt...over leveraged compaies will soon be tumbling everywhere Quote Link to comment Share on other sites More sharing options...
HOwner Posted August 2, 2007 Share Posted August 2, 2007 Most likely selling them at knock down price to rental firms or pre-registering them themselves and parking them off the M5 at Bristol.. Or maybe taking the situation of one company as being representive of a country of nearly 60m is not a wise thing to do. Quote Link to comment Share on other sites More sharing options...
Guest vicmac64 Posted August 2, 2007 Share Posted August 2, 2007 Its not sales that's the problem IMHO, its the company debt...over leveraged compaies will soon be tumbling everywhere I agree entirely - this whole economy depends on the housing market - first signs of a collapse in house prices will send shock waves through manufacturers and retail organisations. Gone are the family businesses and their ability to stick it out through recession - now the corporates will skin their organisations alive - and with it the whole economy will tank - second stage will be an unparrallelled collapse in the housing market - or unparallelled inflation... and at its end housing will still tank! Yes the Govt may hold things off for a while by decreasing interest rates or even just holding them in position - but rest assured - the deck of cards is coming down. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted August 2, 2007 Share Posted August 2, 2007 A MEW is just a loan...that you have to pay back with interest...with the added disadvantage that you put your home at risk, if for whatever reason you are unable to keep up repayments, and not only that you could find yourself paying a large arrangement fee just for the privilege of having it. .....yeah ..but....is this not sold as 'releasing the money in your house...?... Quote Link to comment Share on other sites More sharing options...
notthereyet Posted August 2, 2007 Share Posted August 2, 2007 A MEW is just a loan...that you have to pay back with interest...with the added disadvantage that you put your home at risk, if for whatever reason you are unable to keep up repayments, and not only that you could find yourself paying a large arrangement fee just for the privilege of having it. At one time of day it was everyones ideal to pay their mortgage off as soon as they could or at least after the 25 year term then they knew that they had the security of actually owning their home, now it seems people just borrow more money on their property and therefore prolong the fear that they could still lose their home after paying a mortgage for years. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted August 2, 2007 Share Posted August 2, 2007 At one time of day it was everyones ideal to pay their mortgage off as soon as they could or at least after the 25 year term then they knew that they had the security of actually owning their home, now it seems people just borrow more money on their property and therefore prolong the fear that they could still lose their home after paying a mortgage for years. ...it's because they like to live above their means.....and the big lottery win will take care of it all..... Quote Link to comment Share on other sites More sharing options...
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