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Bank Will End Loans for New Gas and Diesel Cars, Buyers Will Only Get Loans for Right Decision
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Aug 24, 2022 18:21:00   #
Oldsailor65 Loc: Iowa
 
Bank Will End Loans for New Gas and Diesel Cars, Buyers Will Only Get Loans for Right Decision

You may have heard of a company’s “ESG score”: The initials stand for environmental, social and governance — and the scores businesses receive can determine whether they have access to capital and at what interest rate, among other things.

Now, Bank Australia wants to export that kind of thinking to an individual’s choice of car.

According to Fox Business, the financial institution announced Friday that it will stop providing loans for new gas and diesel cars starting in 2025. Instead, it will only be giving loans to those buying new electric vehicles or used gas and diesel cars.

“We think that the responsible thing for us to do next, is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead,” said Bank Australia’s Sasha Courville said in a statement, Fox Business reported.

Courville is Bank Australia’s “chief impact officer.” (That’s seriously his title; this isn’t the Babylon Bee.)

“Ultimately, our announcement today is the beginning of a conversation with our customers and a signal to the wider market that if you’re considering buying a new car, you should think seriously about an electric vehicle – both for its impact on the climate and for its lifetime cost savings,” the statement continued.

This is implying that Australians haven’t thought about it. More than a few new auto buyers likely have — and they’ve said no thanks.

In 2021, 20,665 electric vehicles were sold in Australia, according to data from the Electric Vehicle Council. While that was triple the sales of EVs from the previous year, it still represents only 2 percent of auto sales in the country.

Furthermore, over 60 percent of those sales went to one type of car alone — the Tesla Model 3. At $59,900 Australian to start — almost $41,00 in U.S. dollars — that’s an expensive car for most people.

Do you expect U.S. banks to start policies like this?
Yes: 58% (942 V**es)
No: 42% (679 V**es)
Nevertheless, Courville assured the deplorables Down Under that Bank Australia still cares about them, noting the bank would offer loans for used gas cars “until there is a viable and thriving market for electric vehicles.”

“While we will cease car loans for new f****l f**l cars from 2025, we are deeply aware that we need to support people not yet able to afford an electric vehicle while the market grows,” he said.

Just not a new gas or diesel vehicle in their price range. Sorry, Aussie poors. Make more money. Learn to code, mate.

Now, this arguably has as much to do with Bank Australia’s recently announced target date of achieving net-zero emissions by 2035 as it does with any real concern over the environment. That, and several other problematic things with the move, bear noting.

First, remember “Cash for Clunkers,” the Obama-era program where the government paid you a hefty sum to turn in your fuel-thirsty older vehicle as an incentive to buy newer, more efficient models? Bank Australia has essentially instituted a program that could also reasonably be called “Cash for Clunkers” — only the effect is quite the opposite of what the Obama administration was attempting.

Bank Australia will still be giving out loans for petrol-powered autos, after all; they say they’ll be providing them “until there is a viable and thriving market for electric vehicles.” That’s not going to happen in the three years between now and when this takes effect. So, while it won’t give you money for a new gas or diesel vehicle — one that likely has the most up-to-date emissions equipment and better fuel efficiency than older models — it will lend you cash to buy an older car.

The powertrain on that, obviously, won’t just have the latest bells and whistles to help it sip fuel and emit less carbon. Furthermore, thanks to the fact the powertrain isn’t in factory-fresh condition, it likely pollutes with more carbon and consumes more fuel than it did when it was new.

Yet, Bank Australia will only lend to you if you get a new electric vehicle — which I’d predict most Australians aren’t going to do — or if you get a “clunker.” That set of perverse incentives, in other words, will help keep inefficient cars on the road much longer than they’d usually stay there, particularly if other banks follow Bank Australia’s lead. Nice work.

Second, remember this: The question isn’t if this comes to the United States, only when.

It’s not just the woke Wall Street suzerains that give out ESG scores that are attempting to set into motion a series of financial dominoes which will fundamentally t***sform our lives in a way that makes us poorer and reduces our quality of life.

Banks will do it, too. They’ve already succumbed to the woke agenda, with institutions like Citibank and Bank of America homing in on gun shops that sell items like so-called “high-capacity magazines.”

It’s a short step from gun-shop owners to car owners. Financial institutions have started bowing down to the deities of wokeness — partly because of their ESG scores, partly because they know where their bread is buttered.

President Joe Biden’s administration and ESG scorers want more action on electric cars? All right: Even if banks don’t forbid loans on gas-powered vehicles, they can make the terms so onerous it discourages purchases.

Arrayed against the average American — those who populate the lower, middle and upper-middle classes — is an interwoven leviathan of l*****t governments, unaccountable bureaucrats, a hideously biased mainstream media, supranational organizations like the European Union and corporations like Bank Australia.

They want to sacrifice your ability to provide for yourself and your family on the altar of their agenda.

Your standard of living may be perfectly “sustainable” — especially when compared to the private-jet set that wants the unwashed masses to eat synthetic beef to solve the “climate crisis” — but they don’t care. As far as the global green new deal evangelists are concerned, your life is only important when you’re doing the things they want you to do as part of their attempt to fundamentally t***sform human society.

If you don’t obey, you won’t get cash for a new car. Get a clunker or figure out how to get enough money for an EV, loser.

The overlords have spoken: Save your pennies, proles

https://www.westernjournal.com/bank-will-end-loans-new-gas-diesel-cars-buyers-will-get-loans-right-decision/?utm_source=Email&utm_medium=newsletter-WJ&utm_campaign=dailyam&utm_content=western-journal&ats_es=489ee1ba734a5f1f055e6be09233f635

This kind of thinking will make the rest of the world more and more dependent on China.
Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-...these words now are interchangeable.

Reply
Aug 24, 2022 18:31:27   #
maryla
 
Oldsailor65 wrote:
Bank Will End Loans for New Gas and Diesel Cars, Buyers Will Only Get Loans for Right Decision

You may have heard of a company’s “ESG score”: The initials stand for environmental, social and governance — and the scores businesses receive can determine whether they have access to capital and at what interest rate, among other things.

Now, Bank Australia wants to export that kind of thinking to an individual’s choice of car.

According to Fox Business, the financial institution announced Friday that it will stop providing loans for new gas and diesel cars starting in 2025. Instead, it will only be giving loans to those buying new electric vehicles or used gas and diesel cars.

“We think that the responsible thing for us to do next, is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead,” said Bank Australia’s Sasha Courville said in a statement, Fox Business reported.

Courville is Bank Australia’s “chief impact officer.” (That’s seriously his title; this isn’t the Babylon Bee.)

“Ultimately, our announcement today is the beginning of a conversation with our customers and a signal to the wider market that if you’re considering buying a new car, you should think seriously about an electric vehicle – both for its impact on the climate and for its lifetime cost savings,” the statement continued.

This is implying that Australians haven’t thought about it. More than a few new auto buyers likely have — and they’ve said no thanks.

In 2021, 20,665 electric vehicles were sold in Australia, according to data from the Electric Vehicle Council. While that was triple the sales of EVs from the previous year, it still represents only 2 percent of auto sales in the country.

Furthermore, over 60 percent of those sales went to one type of car alone — the Tesla Model 3. At $59,900 Australian to start — almost $41,00 in U.S. dollars — that’s an expensive car for most people.

Do you expect U.S. banks to start policies like this?
Yes: 58% (942 V**es)
No: 42% (679 V**es)
Nevertheless, Courville assured the deplorables Down Under that Bank Australia still cares about them, noting the bank would offer loans for used gas cars “until there is a viable and thriving market for electric vehicles.”

“While we will cease car loans for new f****l f**l cars from 2025, we are deeply aware that we need to support people not yet able to afford an electric vehicle while the market grows,” he said.

Just not a new gas or diesel vehicle in their price range. Sorry, Aussie poors. Make more money. Learn to code, mate.

Now, this arguably has as much to do with Bank Australia’s recently announced target date of achieving net-zero emissions by 2035 as it does with any real concern over the environment. That, and several other problematic things with the move, bear noting.

First, remember “Cash for Clunkers,” the Obama-era program where the government paid you a hefty sum to turn in your fuel-thirsty older vehicle as an incentive to buy newer, more efficient models? Bank Australia has essentially instituted a program that could also reasonably be called “Cash for Clunkers” — only the effect is quite the opposite of what the Obama administration was attempting.

Bank Australia will still be giving out loans for petrol-powered autos, after all; they say they’ll be providing them “until there is a viable and thriving market for electric vehicles.” That’s not going to happen in the three years between now and when this takes effect. So, while it won’t give you money for a new gas or diesel vehicle — one that likely has the most up-to-date emissions equipment and better fuel efficiency than older models — it will lend you cash to buy an older car.

The powertrain on that, obviously, won’t just have the latest bells and whistles to help it sip fuel and emit less carbon. Furthermore, thanks to the fact the powertrain isn’t in factory-fresh condition, it likely pollutes with more carbon and consumes more fuel than it did when it was new.

Yet, Bank Australia will only lend to you if you get a new electric vehicle — which I’d predict most Australians aren’t going to do — or if you get a “clunker.” That set of perverse incentives, in other words, will help keep inefficient cars on the road much longer than they’d usually stay there, particularly if other banks follow Bank Australia’s lead. Nice work.

Second, remember this: The question isn’t if this comes to the United States, only when.

It’s not just the woke Wall Street suzerains that give out ESG scores that are attempting to set into motion a series of financial dominoes which will fundamentally t***sform our lives in a way that makes us poorer and reduces our quality of life.

Banks will do it, too. They’ve already succumbed to the woke agenda, with institutions like Citibank and Bank of America homing in on gun shops that sell items like so-called “high-capacity magazines.”

It’s a short step from gun-shop owners to car owners. Financial institutions have started bowing down to the deities of wokeness — partly because of their ESG scores, partly because they know where their bread is buttered.

President Joe Biden’s administration and ESG scorers want more action on electric cars? All right: Even if banks don’t forbid loans on gas-powered vehicles, they can make the terms so onerous it discourages purchases.

Arrayed against the average American — those who populate the lower, middle and upper-middle classes — is an interwoven leviathan of l*****t governments, unaccountable bureaucrats, a hideously biased mainstream media, supranational organizations like the European Union and corporations like Bank Australia.

They want to sacrifice your ability to provide for yourself and your family on the altar of their agenda.

Your standard of living may be perfectly “sustainable” — especially when compared to the private-jet set that wants the unwashed masses to eat synthetic beef to solve the “climate crisis” — but they don’t care. As far as the global green new deal evangelists are concerned, your life is only important when you’re doing the things they want you to do as part of their attempt to fundamentally t***sform human society.

If you don’t obey, you won’t get cash for a new car. Get a clunker or figure out how to get enough money for an EV, loser.

The overlords have spoken: Save your pennies, proles

https://www.westernjournal.com/bank-will-end-loans-new-gas-diesel-cars-buyers-will-get-loans-right-decision/?utm_source=Email&utm_medium=newsletter-WJ&utm_campaign=dailyam&utm_content=western-journal&ats_es=489ee1ba734a5f1f055e6be09233f635

This kind of thinking will make the rest of the world more and more dependent on China.
Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-...these words now are interchangeable.
Bank Will End Loans for New Gas and Diesel Cars, B... (show quote)


Its hard to deal with the stupidity of our current administration sometimes agreed...but we're almost halfway through this...

Reply
Aug 24, 2022 22:09:17   #
LogicallyRight Loc: Chicago
 
Money talks and the banks want to make money. Absent Government decrees, they will lend. They are in business.

Reply
 
 
Aug 25, 2022 11:54:08   #
F.D.R.
 
Oldsailor65 wrote:
Bank Will End Loans for New Gas and Diesel Cars, Buyers Will Only Get Loans for Right Decision

You may have heard of a company’s “ESG score”: The initials stand for environmental, social and governance — and the scores businesses receive can determine whether they have access to capital and at what interest rate, among other things.

Now, Bank Australia wants to export that kind of thinking to an individual’s choice of car.

According to Fox Business, the financial institution announced Friday that it will stop providing loans for new gas and diesel cars starting in 2025. Instead, it will only be giving loans to those buying new electric vehicles or used gas and diesel cars.

“We think that the responsible thing for us to do next, is to ensure that our vehicle lending doesn’t lock our customers in to higher carbon emissions and increasingly expensive running costs in the years ahead,” said Bank Australia’s Sasha Courville said in a statement, Fox Business reported.

Courville is Bank Australia’s “chief impact officer.” (That’s seriously his title; this isn’t the Babylon Bee.)

“Ultimately, our announcement today is the beginning of a conversation with our customers and a signal to the wider market that if you’re considering buying a new car, you should think seriously about an electric vehicle – both for its impact on the climate and for its lifetime cost savings,” the statement continued.

This is implying that Australians haven’t thought about it. More than a few new auto buyers likely have — and they’ve said no thanks.

In 2021, 20,665 electric vehicles were sold in Australia, according to data from the Electric Vehicle Council. While that was triple the sales of EVs from the previous year, it still represents only 2 percent of auto sales in the country.

Furthermore, over 60 percent of those sales went to one type of car alone — the Tesla Model 3. At $59,900 Australian to start — almost $41,00 in U.S. dollars — that’s an expensive car for most people.

Do you expect U.S. banks to start policies like this?
Yes: 58% (942 V**es)
No: 42% (679 V**es)
Nevertheless, Courville assured the deplorables Down Under that Bank Australia still cares about them, noting the bank would offer loans for used gas cars “until there is a viable and thriving market for electric vehicles.”

“While we will cease car loans for new f****l f**l cars from 2025, we are deeply aware that we need to support people not yet able to afford an electric vehicle while the market grows,” he said.

Just not a new gas or diesel vehicle in their price range. Sorry, Aussie poors. Make more money. Learn to code, mate.

Now, this arguably has as much to do with Bank Australia’s recently announced target date of achieving net-zero emissions by 2035 as it does with any real concern over the environment. That, and several other problematic things with the move, bear noting.

First, remember “Cash for Clunkers,” the Obama-era program where the government paid you a hefty sum to turn in your fuel-thirsty older vehicle as an incentive to buy newer, more efficient models? Bank Australia has essentially instituted a program that could also reasonably be called “Cash for Clunkers” — only the effect is quite the opposite of what the Obama administration was attempting.

Bank Australia will still be giving out loans for petrol-powered autos, after all; they say they’ll be providing them “until there is a viable and thriving market for electric vehicles.” That’s not going to happen in the three years between now and when this takes effect. So, while it won’t give you money for a new gas or diesel vehicle — one that likely has the most up-to-date emissions equipment and better fuel efficiency than older models — it will lend you cash to buy an older car.

The powertrain on that, obviously, won’t just have the latest bells and whistles to help it sip fuel and emit less carbon. Furthermore, thanks to the fact the powertrain isn’t in factory-fresh condition, it likely pollutes with more carbon and consumes more fuel than it did when it was new.

Yet, Bank Australia will only lend to you if you get a new electric vehicle — which I’d predict most Australians aren’t going to do — or if you get a “clunker.” That set of perverse incentives, in other words, will help keep inefficient cars on the road much longer than they’d usually stay there, particularly if other banks follow Bank Australia’s lead. Nice work.

Second, remember this: The question isn’t if this comes to the United States, only when.

It’s not just the woke Wall Street suzerains that give out ESG scores that are attempting to set into motion a series of financial dominoes which will fundamentally t***sform our lives in a way that makes us poorer and reduces our quality of life.

Banks will do it, too. They’ve already succumbed to the woke agenda, with institutions like Citibank and Bank of America homing in on gun shops that sell items like so-called “high-capacity magazines.”

It’s a short step from gun-shop owners to car owners. Financial institutions have started bowing down to the deities of wokeness — partly because of their ESG scores, partly because they know where their bread is buttered.

President Joe Biden’s administration and ESG scorers want more action on electric cars? All right: Even if banks don’t forbid loans on gas-powered vehicles, they can make the terms so onerous it discourages purchases.

Arrayed against the average American — those who populate the lower, middle and upper-middle classes — is an interwoven leviathan of l*****t governments, unaccountable bureaucrats, a hideously biased mainstream media, supranational organizations like the European Union and corporations like Bank Australia.

They want to sacrifice your ability to provide for yourself and your family on the altar of their agenda.

Your standard of living may be perfectly “sustainable” — especially when compared to the private-jet set that wants the unwashed masses to eat synthetic beef to solve the “climate crisis” — but they don’t care. As far as the global green new deal evangelists are concerned, your life is only important when you’re doing the things they want you to do as part of their attempt to fundamentally t***sform human society.

If you don’t obey, you won’t get cash for a new car. Get a clunker or figure out how to get enough money for an EV, loser.

The overlords have spoken: Save your pennies, proles

https://www.westernjournal.com/bank-will-end-loans-new-gas-diesel-cars-buyers-will-get-loans-right-decision/?utm_source=Email&utm_medium=newsletter-WJ&utm_campaign=dailyam&utm_content=western-journal&ats_es=489ee1ba734a5f1f055e6be09233f635

This kind of thinking will make the rest of the world more and more dependent on China.
Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-Liberals-I***ts-...these words now are interchangeable.
Bank Will End Loans for New Gas and Diesel Cars, B... (show quote)


This is how it starts. Biden is pushing forward on eliminating cash and going to digital currency. Once that happens you loose control of your life. Wanna buy a gun - nope, wanna buy ammo - nope, wanna buy beef - nope.

Reply
Aug 25, 2022 12:04:09   #
Oldsailor65 Loc: Iowa
 
F.D.R. wrote:
This is how it starts. Biden is pushing forward on eliminating cash and going to digital currency. Once that happens you loose control of your life. Wanna buy a gun - nope, wanna buy ammo - nope, wanna buy beef - nope.


It is hard to believe that...IN THIS COUNTRY...one stupid old man can have the authority to do so much damage world wide!!!

Reply
Aug 25, 2022 12:09:09   #
EmilyD
 
LogicallyRight wrote:
Money talks and the banks want to make money. Absent Government decrees, they will lend. They are in business.

I'm skeptical....will they loan twice as much money to everyone, since most people will be buying brand new EV's (there aren't' that many used ones around, right now anyway)? Will they keep on loaning them money every time their borrowers need to buy a new battery, which could run $5,000 to $12,000, or another car when the one they got with the first loan dies? Will they loan anything for a vehicle that has a known history (already) of exploding when they have even a minor accident, and then burn to ashes because lithium batteries burn really HOT when they explode?

https://www.smartpropel.com/why-does-your-lithium-battery-explode-and-burn-up/

Reply
Aug 25, 2022 12:40:32   #
Oldsailor65 Loc: Iowa
 
EmilyD wrote:
I'm skeptical....will they loan twice as much money to everyone, since most people will be buying brand new EV's (there aren't' that many used ones around, right now anyway)? Will they keep on loaning them money every time their borrowers need to buy a new battery, which could run $5,000 to $12,000, or another car when the one they got with the first loan dies? Will they loan anything for a vehicle that has a known history (already) of exploding when they have even a minor accident, and then burn to ashes because lithium batteries burn really HOT when they explode?

https://www.smartpropel.com/why-does-your-lithium-battery-explode-and-burn-up/
I'm skeptical....will they loan twice as much mone... (show quote)


The main thing that bothers me about EV's is that owning them makes the rest of the world more dependent on China because China controls access to all of the scarce metals needed to manufacture the batteries!
This could eventually lead to WW3. Stupid ol Joe's plan to replace the current gas powered vehicles with EV's for the USPS.....typical of stupid ol Joe and liberals in general.

Reply
 
 
Aug 25, 2022 14:19:48   #
elledee
 
F.D.R. wrote:
This is how it starts. Biden is pushing forward on eliminating cash and going to digital currency. Once that happens you loose control of your life. Wanna buy a gun - nope, wanna buy ammo - nope, wanna buy beef - nope.


Right on!!!!!

Reply
Aug 25, 2022 18:56:11   #
Oscar louks
 
maryla wrote:
Its hard to deal with the stupidity of our current administration sometimes agreed...but we're almost halfway through this...


Good bye freedom as it floats off in the sunset. Stand at attention for the new control

Reply
Aug 25, 2022 19:16:50   #
FallenOak Loc: St George Utah
 
Just my observation. What makes one think that gas and diesel used vehicles will be lower in cost than electric vehicles? Once no new gas or diesel can get loans then the market for used ones grows and the cost there will rise rapidly also so the buyers priced out of electric will probably also be priced out of used f****l f**l cars.

Reply
Aug 25, 2022 19:18:07   #
Oldsailor65 Loc: Iowa
 
FallenOak wrote:
Just my observation. What makes one think that gas and diesel used vehicles will be lower in cost than electric vehicles? Once no new gas or electric can get loans then The market for used ones grows and the cost there will rise rapidly also so the ones priced out of electric will possibly also be priced out of used f****l f**l cars.


What you say is true and auto theft will increase.

Reply
 
 
Aug 25, 2022 19:22:04   #
FallenOak Loc: St George Utah
 
Oldsailor65 wrote:
What you say is true and auto theft will increase.


Thanks, I hadn't thought of that.

Reply
Aug 26, 2022 10:25:04   #
retired teacher
 
To all those comments—— I agree About Biden’s insanity. Conclusion is to V**E for any candidate who opposed the Biden administration this November and in 2024. ITS OUR ONLY HOPE OF KEEPING OUR MONEY , OUR FREEDOMS, OUR GUNS, OUR RIGHTS TO LIVE AS WE PLEASE AND TO HELL WITH THE WOKE AGENDA. I PERSONALLY IN MY LIFE HAVE BOWED DOWN TO NO ONE BUT THE LORD JESUS AND WILL CONTINUE TO PRAY TIL I LEAVE THIS WORLD AND TO HELL WITH THEIR SOCIALIST REFORMATION TAKEOVER !!!!!!!👍🙏🙏🙏👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌

Reply
Aug 26, 2022 11:08:51   #
Oldsailor65 Loc: Iowa
 
retired teacher wrote:
To all those comments—— I agree About Biden’s insanity. Conclusion is to V**E for any candidate who opposed the Biden administration this November and in 2024. ITS OUR ONLY HOPE OF KEEPING OUR MONEY , OUR FREEDOMS, OUR GUNS, OUR RIGHTS TO LIVE AS WE PLEASE AND TO HELL WITH THE WOKE AGENDA. I PERSONALLY IN MY LIFE HAVE BOWED DOWN TO NO ONE BUT THE LORD JESUS AND WILL CONTINUE TO PRAY TIL I LEAVE THIS WORLD AND TO HELL WITH THEIR SOCIALIST REFORMATION TAKEOVER !!!!!!!👍🙏🙏🙏👌👌👌👌👌👌👌👌👌👌👌👌👌👌👌
To all those comments—— I agree About Biden’s ins... (show quote)



Reply
Aug 26, 2022 13:03:42   #
maryla
 
[quote=Oldsailor65]It is hard to believe that...IN THIS COUNTRY...one stupid old man can have the authority to do so much damage world wide!!! [/quo

Agreed!! He just starts one disaster after another... How could America ever given this guy keys to WH befuddles me!

Reply
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