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pi6 weekenderjvlay8i1993 your money now s the time to negotiate with lender brian costello the competition is really heating up now the lenders are flush with cash but borrowers are hid ing as few people want to take advantage of the real estate bargains that are available out there if you cant find new bor rowers why not steal the other guys thats the strategy out there right now the lenders have decided to offer goodie after goodie to get us to move from our existing lender to them and theyre all doing it to each other your chevrolet ami pontiac dealers present the astro and safari give you all this no charge option package captains chairs twotone paint rally wheels deep tinted glass pp features astro cs safari su with1sb package aer0starxl631a withaerosport package caravan voyager with 24t package a3 litre v6 engine not available not available 8 passenger seating capacity not available not available 4wheel antilock brakes rear wheel abs only extra charge air conditioning cruise control extra charge extra charge tilt steering extra charge extra charge scotehgard fabric protector extra charge extra charge amfm stereo with cassette extra charge extra charge 24 hour roadside assistance not available not available interior space seats removed 1518 cu ft 1355 cu ft 1159 cu ft nc ie e i you the luxury edition i for this ft with cash back applied only at your chevrolet and pontiac dealers purchase price lor astro cs and safari six equipped as described including 1250 cash back gst included in the cash back lease rate based on 48 month gmac lease and capital cost ol 1958700 monthly payment ol 339 on a total lease amount of 1627152 oac freight 700 licence insurance gst and other applicable taxes not included some mileage conditions apply 24 and 36 month contracts available these limited time oilers may not be combined or used in combination wilh any other oiler except the college graduate program oilers apply to 1993 new unused or demonstrator modols obtained from delivery from dealer inventory price does not include freight 700 licence insurance and taxes dealer may sell lor or lease for less see your participating dealer lor complete details a some or all ol these no charge options may be available on competitive vehicles as standard or option package items the real question is whether we take advantage of these goodies whether we hold out for others or whether we play our existing lender against the others to get similar benefits without having to move thats one of my biggest complaints about these offers most are for new or trans ferred mortgages what happened to the idea of rewarding the people who stuck with you you are almost forced to move to get the benefits being offered to new borrow ers i guess the real strategy is to not get roped in by these offers when they dont really offer as much as you can get all by yourself enticing offers some of the offers look enticing though one lender is offering three months of no interest on their seven year mortgages others allow you to miss a payment once a year when you are squeezed then you have books of discount coupons and bonuses and of course we have the usual waiver of legal and appraisal fees some of these bonuses have some real value to them but others require that you opt for a long term loan as long as seven years to me that makes these bonuses very expensive at present its a very com petitive world in the banking business as a result interest rates have fallen dramatically in the short term loan area six month and variable rate loans carry interest rates between five and six per cent yet seven year loans carry rates in the 9 12 per cent range with five year loans just under 9 per cent why would you voluntarily pay 9 per cent or more and be locked in for five to seven years when you could pay three to four per cent less and have the flexibility to take advantage of any fur ther reductions in rates interest rate story the answer could only be that you feared that interest rates were going to rise but are they better yet how could they the things that normally cause interest rates to rise are a strong demand for money or an upsurge in inflation when theres strong demand for money the lenders have to pay more to borrow it in the wholesale markets in addition theres more demand for money so they can get away with asking for more interest inflation destroys the value of the money owing to us as a result when there are fears of higher inflation lenders often increase their interest rates to offset the loss in purchasing power but is there any demand for money well bankers tell me that most people with please see page 17 vt t l liwvn