Suzuki offering cars @ 0% too atm.
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Suzuki offering cars @ 0% too atm.
Was just browsing through RBNZ's latest Financial Stability report (May 2013). Is littered with warnings re potential instability resulting from house price rises and how it's effecting the banks... HNZ's move out of mortgages keeps proving the smart thing to do (and brave not following the herd).
Also notes that kiwis credit growth is starting to creep back up there... trust HNZ is getting some of that. However does mention concern about growth of debt within the agricultural sector amongst those already operating on high debt levels :( particularly in the dairy sector. Although it does say that amongst the 8 banks the asset quality of agriculture assets has improved over the last two years. Link below... Had a bit of trouble trying to insert the graphs??? insight would be appreciated.
http://www.rbnz.govt.nz/finstab/fsreport/fsr_may13.pdf
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Testing.....
Joshuatree - there are no free lunches from the motor industry. 0% finance is just a way of discounting without bastardising the retail price.
All importers of Japanese vehicles are currently flush with extra margin gained from the stronger NZD vs JPY. It's moved from 65 to 85 over the past 4-5 months which translates into plenty of dosh to throw at the market one way or another. If you're buying a new car now's the time to negotiate hard - though you can expect a bit of downward pressure on the value of your trade too.
Percy - read Chris lee this week. He agrees with you, so much so if I didn't know better I would think you are mr Warrington himself
Agree Pierre. Still a good deal for buyers. Have never bought or leased a new car myself and dont intend to as im not in situ to claim writedowns on it for one. Less/ no % margin for Heartland/ banks in no int loans but i guess banks are playing the exchange rate too..
HNZ taking the RECL assets in house and accelerating their disposal and writing off $18m up front. Now expecting full year pre-tax and pre write off profit of $24m and forecasting a healthy NPAT of $ 34-37m for the year ending 30 June 2014.
Also proposing an on market share buyback. Good to get rid of these loans/properties and hopefully all this will lead to a firmer SP
seems to be getting that so far