Comments on: GM Financed 50% of Car Purchases Last Year; Can Only Finance 6% Now

By: prostratedragon

prostratedragon — Thu, 04 Dec 2008 06:31:17 +0000

GMAC seems to have begun toward the end of the 1920s, as a financial innovation intended to keep the auto boom of that decade going, according to a cite in this handy little book that I happen to be reading.

By: rosalind

rosalind — Thu, 04 Dec 2008 02:27:40 +0000

Maybe NBC and Chrysler could have driven the car to Washington to ask for a creative bailout.

comment at Deadline Hollywood regarding NBC canceling “Knight Rider”:

By: MadDog

MadDog — Thu, 04 Dec 2008 02:07:20 +0000

Well, after finishing reading all 3 of the “Alms for the Poor” begging plans, here’s my take:

1. Ford - Style: Readable and mostly upbeat. Content: Seemingly transparent. Translation: Better Marketeers.

2. GM - Style: Reminds one of Richard Nixon. Furtive, dark and more than a bit paranoid. Content: With a 1950 mindset, still thinks that having 40 different models in 2012 is a good thing. Translation: I am not a criminal!

3. Chrysler - Style: Written by the 7th VP of Janitorial Services because the more senior executives were too busy mailing out resumes to failed Dot.com companies. Content: Getting ready to be thrown under the bus via Chapter 7 because only a fool would lend them money. Translation: I’ve got a bridge I’d like to sell you.

By: plunger

plunger — Thu, 04 Dec 2008 01:41:47 +0000

Remember what Rove said about “discernible reality?” The globalist banksters are kicking the plan into high gear now.

By nationalizing industries and banking, via trillions “lent” into (stolen from) the system, they have effectively rendered irrelevant every historic marker, milepost, chart or reference point by which economies, investors and just plain citizens once navigated through their lives.

They have eliminated true north, broken the compass and caused the sun to rise in the west and set in the east. They are enacting the “class war” as we speak. This week, in southern Florida, drivers who are rich enough can provide their personal information and pay to drive in the fast lanes, while the rest of us sit in traffic.

Same with airports - want to pass through security fast? Pay a price, give them all your personal information, and zip right past those who will soon grow to despise you - just like those drivers stuck in traffic.

Fake terror in Mumbai in order to invade Pakistan? There are no coincidences. This was all planned years ago. Are you seeing it? Is it discernible to you?

By: bmaz

bmaz — Thu, 04 Dec 2008 00:40:15 +0000

Of course, if they had stopped using Lucas electrical components, they might have sold a lot more of all the British Leyland marks.

By: bmaz

bmaz — Thu, 04 Dec 2008 00:38:36 +0000

Heh heh, yeah, that didn’t work out well for either side did it?

By: ferrarimanf355

ferrarimanf355 — Thu, 04 Dec 2008 00:16:43 +0000

Two words: British Leyland.

By: bmaz

bmaz — Wed, 03 Dec 2008 23:46:34 +0000

Yeah, I don’t think even the 60 month financing was ever a problem for the in house finance folks, and they did that after credit unions started doing 60 month loans; it didn’t start, to the best of my knowledge, with the in house finance arms. I know for a fact that GMAC was still at 48 months when my mother’s credit union would go 60 months and on certain luxury cars 72 months.

Financing their customers on cars did not make these guys banks; expanding into other credit areas and mortgage areas did. At strictly the car level, this all worked quite well actually.

By: Neil

Neil — Wed, 03 Dec 2008 22:43:20 +0000

Thank you for posting that. It was definitely written by a fan, nonetheless it makes some great points about where recent Democratic victories have come from, and ask the question, will we rule that way too?

By: emptywheel

emptywheel — Wed, 03 Dec 2008 22:40:06 +0000

Why does that need to be fixed? The biggest problem with auto financing is that it led to longer loans (5+ years instead of 2-4) which led to people being upside down on their loan. But at least thus far, auto loans haven’t been shown to have the kind of defaults that mortgage and credit have.

Also note, furniture and appliance stores also self-finance–which is how they can give 0% finance for several months after you purchase something.