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Automotive News & Views Do You Favor A Government Loan To The Detroit 3?
3958 messages, Last post on Oct 02, 2009 at 4:52 PM
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Replying to: driver100 (Dec 14, 2008 7:25 pm) 
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Replying to: gator5000e (Dec 15, 2008 9:23 am) 
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Replying to: lemko (Dec 15, 2008 7:41 am) Likes his car to be the same comfort as his living room couch. Yes, I do! Thinks the easier the steering wheel moves the better the steering. Yes, I do! etc..... I give you guys credit, you know how you like your cars and you're not willing to budge on what you want in a car. You are the die-hards, because there isn't too many of you left. I am not normally a betting person but I am 99.9% sure you haven't taken a BMW or Mercedes out for a test run. I would love to see your reaction if you did. You will experience the pleasure of driving. When I had the 10 year old MB loaner I said I would rather have the 10 year old MB than a new B3. But I appreciate and admire your patriotism for Buicks and Cadillacs, |
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Replying to: gator5000e (Dec 15, 2008 9:23 am) Something to consider, a local GM dealer just closed here. He doesn't want to be stuck purchasing more cars, and then have GM go into bankrupcy.....he'll be stuck with inventory he won't be able to sell. Although a CTS is nice, and it would be hard to pass up a good deal, that would concern me. |
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Replying to: driver100 (Dec 15, 2008 11:58 am) The often cited "we can't let GM go into bankruptcy, because nobody would buy from an automaker in bankruptcy" may already be halfway here due to the publicity around the bailout. I know I would think really hard about buying a D3 vehicle right now from the standpoint of long term solvency. I wonder if we will see Ford do better with market share due to their relatively stronger position than GM and C.
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Replying to: driver100 (Dec 15, 2008 7:48 am) I was thinking more of deducting it from your gross income. Either all in one year if you pay cash or the total of your payments and down payment for the duration of the loan. Just like businesses do with their vehicle purchases. It would be an allowed personal expense like your home mortgage interest. It would effectively cut your taxes for that amount by about 25%. It would also get people interested in spending on automobiles instead of hoarding cash.
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Replying to: tlong (Dec 15, 2008 12:06 pm) Last I heard sales are off about 50% from the 30% cut back last month for this very reason. Even if you could get the money to buy, why would you buy a car from a company that won't be around to honor the warranty. I always suspected the GM 100,000 mile/ 5 year warranty was an act of desperation - either we'll sell more cars and keep our heads above the water or we'll sink and we won't have to honor the warranty anyway. It was worth a try, but those cars weren't really made to last 100,000 mi/5 years so they'll get drowned in repairs in 5 years anyway. 
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Replying to: gagrice (Dec 15, 2008 12:34 pm) Gottya...yes, I think it is a great idea and well worth a try. Anything that moves metal is worth a try, especially if it doesn't come directly from taxes. |
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Replying to: tlong (Dec 15, 2008 12:06 pm) It would be interesting if GM and C go the bankruptcy route, maybe the government would back up their warranties? However, if that occured, Ford may find a reversal of fortunes because the Ford family doesn't want their control lost through a bankruptcy and even though some of those "other bankruptcy" savings may be passed on to Ford, they probably wouldn't get as many overall cost reductions as a formally restructured GM or C. Of course, there is no assurance GM or C would survive a bankruptcy long term either I guess. |
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