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GM should get some credit.
Posted: Thu Apr 02, 2009 10:35 pm
by Nickswitz
Now GM is paying $500 towards a car loan if you lose your job...
I heard their commercial, so sorry, no source now.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:37 pm
by stitch626
Hey I saw that too.
I think this is a nice thing to do, but can they afford it?
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:39 pm
by Mark
That's nice of them, but they are going broke.............how can they pull that off?
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:40 pm
by Aaron
Mark wrote:That's nice of them, but they are going broke.............how can they pull that off?
High interest rate?
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:44 pm
by SteveK
They're probably betting that the increase in sales will offset any loss they suffer.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:47 pm
by Nickswitz
SteveK wrote:They're probably betting that the increase in sales will offset any loss they suffer.
Thats what I thought.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 10:59 pm
by Mark
Risky. That could backfire quite easily.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 11:14 pm
by Nickswitz
I'm sure, but they might get more support from the government now that they are helping people out.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 11:29 pm
by Mikey
Here's the deal:
If you are employed continuously at the same job for 12 weeks prior to your purchase, you qualify. If you lose your job and remain unemployed for 30 consecutive days after the first 90 days after purchase and before 24 months, GM will send you a check for your monthly payment (up to $500) for up to 9 months.
It isn't made up by interest rates, because a) GM is offering 0% financing on many models through GMAC; and b) you can finance through any lender you want and still qualify.
In addition, at the same time GM is offering "vehicle value protection" with new cars in that if you keep the car for at least half your scheduled payments, they will credit you up to $5,000 to make up for any inequity bewtween value and loan balance when you trade the vehicle in toward a new GM vehicle.
Re: GM should get some credit.
Posted: Thu Apr 02, 2009 11:35 pm
by Nickswitz
Thank you Mikey for the information.
Re: GM should get some credit.
Posted: Fri Apr 03, 2009 12:24 am
by Mikey
No prob. There was a teleconference yesterday with all the dealers.
Re: GM should get some credit.
Posted: Fri Apr 03, 2009 12:26 am
by Tsukiyumi
Mikey wrote:No prob. There was a teleconference yesterday with all the dealers.
So, did the deal with Mendoza and the Colombians go through?
Oh, right. You meant the
car dealers. My mistake.
Re: GM should get some credit.
Posted: Fri Apr 03, 2009 12:36 am
by Mikey
Yeah, thos other guys tend to shy away from broadcasting information via uncoded satellite transmission.
Re: GM should get some credit.
Posted: Fri Apr 03, 2009 12:37 am
by Tsukiyumi
Re: GM should get some credit.
Posted: Fri Apr 03, 2009 1:30 am
by Mark
Tsukiyumi wrote:Mikey wrote:No prob. There was a teleconference yesterday with all the dealers.
So, did the deal with Mendoza and the Colombians go through?
Oh, right. You meant the
car dealers. My mistake.
I just overheard one of the SHIFTIEST car deals, with a shady salesmen making a complete bullshit pitch. I leave it to you to decide which can be the more dishonest profession. He knows damn well that in six months we WON'T be able to honor the deal he's making now
No offense Mikey
