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Smart Shopper Buying a Car During the Credit Crunch
343 messages, Last post on Nov 14, 2008 at 5:59 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: nippononly (Oct 01, 2008 8:43 am)
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Replying to: laura26 (Nov 03, 2008 5:17 pm) So yes, you probably could have got a great rate later. But price? With dealers hunkering down and expecting much lower volume, I think the response will more often than not to be to shoot for more profit margin on each individual sale than when times were flush. PS Anyone know what happened to the 25 posts that just seem to be missing from this thread?? |
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Replying to: kirstie_h (Sep 30, 2008 11:35 am) I came to this forum after reading a comment from GM in which an executive said that sales were unsustainably low. I would like to point out to GM that 50 years ago GM calculated a 3-year replacement cycle for every car they sold. They were right. Unfortunately, GM pushed quality down to match the cycle. It was easy for resurgent foreign competitors to lure customers away with reliable cars even if they cost more than GM's offerings. GM responded by drawing quality up to levels to match foreign competition. In another unfortunately unexpected outcome, GM's capital structure depends on the same old 3-year replacement cycle. The replacement cycle is now closer to 6 years, and GM is starved for new cash. The good news is that GM quality is now competitive with everyone in the world and GM will survive this market retrenchment. I purchased a new Chevrolet Malibu in each of 2003 and 2004. I also purchased a new Dodge Intrepid in 2004, and a used Ford Focus in 2004. All four of these vehicles are running well and are quite dependable. Looking forward, I have no intention of purchasing another car that runs on internal combustion of fossil fuels alone. The first and second generation of hybrid vehicles are interesting. I'd buy a Ford Escape Hybrid if I just had to get new wheels. Lacking an emergent need, I will wait until the 3rd generation of hybrid cars such as the Aptera Type-1h and the Chevrolet Volt become available before making another purchase.
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Replying to: jeromeb (Nov 03, 2008 7:22 pm) "GM's capital structure depends on the same old 3-year replacement cycle. The replacement cycle is now closer to 6 years, and GM is starved for new cash." Though with $20 billion in cash, at $2 billion a month that means 10 months at current rates. They need help obviously. Yes we can ! They survive but have doubts about Chrysler ( Cerebus) Merge with Renault ? Oh the shame. |
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Smart Shopper Buying a Car During the Credit Crunch
