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View Poll Results: Should GM offer 0% financing on all vehicles to help boost sales?
Yes! Offer 0% financing! 222 92.50%
No. It's not necessary (read reasons why in posts below). 18 7.50%
Voters: 240. You may not vote on this poll

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Old 05-17-2009, 11:53 PM   #57
CurtG
 
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A big reason I'm not buying right now is interest rates. If you do the math (which Im not going to do for you, stop being lazy) you pay a lot more than a car is worth if you finance it and it has any kind of interest.

I am thankfully debt free and its an amazing feeling. Nice to know all the money I have coming in is for me and doesn't belong to someone else before I even get it.

May take me a while but I will pay for my next car in cash and will be able to pay what its really worth. Not going to put myself in the hole for any business seeing as they aren't there to help me when times are good for them.
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Old 05-17-2009, 11:55 PM   #58
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The only way I'm buying new is if they offer 0% on the Camaro, our last two GM cars had 0% for 60 months. I think the payment was $16.11 per $1000 financed, and the totals came out to 1-2k under MSRP.

If not I will settle for a used one next year.
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Old 05-18-2009, 08:43 PM   #59
josh1147
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Ok,

Let's get a little academic on this topic. I've read through all the posts so far and I see very few people who have brought up or understand the Micro and Macro economics associated with this situation....nor would claim to know and understand them completely.

What I do realize is that the American population is for the most part selfish. Anyone who thinks GMAC should offer 0% financing should be taken out in the woods and shot.

Have you all forgotten they are operating off of loans that WE are financing to them? Don't you want your money back? I do, and I want it back from those a-holes on Wall Street too!

The past 5 years of 0% loans have been part of the problem. They have allowed people to buy cars that they otherwise could not have afforded and have eroded the operational capital of the manufacturers.

Zero financing has also caused unrealistic consumer expectations regarding what they can afford and how often they can afford it...and this applies to more than just cars.

Finally, the manufacturers have adjusted their production to meet demand. I suspect that some economists would argue this is artificially inflated demand caused be the unrealistic consumer expectations for price/financing and self-serving immediate gratification. Yes, a vicious loop.

This has caused HUGE amounts of excess inventory, excess personnel that need to be laid off, and suppliers that now have excess inventory and reduced demand for their parts...causing them to lay off personnel, etc. Due to the massive size of the auto industry, the ripple effect is huge.

So before you start "flaming me" for this post, think about the last think you bought. Did you really need it? Was it purchased with discretionary income or are you delaying by extending your credit further? Could you have done without it for another month....another year?

The American consumer needs to "slow their roll" and consider saving prior to buying large ticket items, like cars. It's not hard to plan ahead and save money, especially at the slow pace GM is delivering our camaros.

Flame away.....
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Old 05-18-2009, 10:03 PM   #60
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Quote:
Originally Posted by josh1147 View Post
Ok,

Let's get a little academic on this topic. I've read through all the posts so far and I see very few people who have brought up or understand the Micro and Macro economics associated with this situation....nor would claim to know and understand them completely.

What I do realize is that the American population is for the most part selfish. Anyone who thinks GMAC should offer 0% financing should be taken out in the woods and shot.

Have you all forgotten they are operating off of loans that WE are financing to them? Don't you want your money back? I do, and I want it back from those a-holes on Wall Street too!

The past 5 years of 0% loans have been part of the problem. They have allowed people to buy cars that they otherwise could not have afforded and have eroded the operational capital of the manufacturers.

Zero financing has also caused unrealistic consumer expectations regarding what they can afford and how often they can afford it...and this applies to more than just cars.

Finally, the manufacturers have adjusted their production to meet demand. I suspect that some economists would argue this is artificially inflated demand caused be the unrealistic consumer expectations for price/financing and self-serving immediate gratification. Yes, a vicious loop.

This has caused HUGE amounts of excess inventory, excess personnel that need to be laid off, and suppliers that now have excess inventory and reduced demand for their parts...causing them to lay off personnel, etc. Due to the massive size of the auto industry, the ripple effect is huge.

So before you start "flaming me" for this post, think about the last think you bought. Did you really need it? Was it purchased with discretionary income or are you delaying by extending your credit further? Could you have done without it for another month....another year?

The American consumer needs to "slow their roll" and consider saving prior to buying large ticket items, like cars. It's not hard to plan ahead and save money, especially at the slow pace GM is delivering our camaros.

Flame away.....

EXCELLENT post!!!!
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Old 05-18-2009, 10:07 PM   #61
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Quote:
Originally Posted by josh1147 View Post
Ok,

Let's get a little academic on this topic. I've read through all the posts so far and I see very few people who have brought up or understand the Micro and Macro economics associated with this situation....nor would claim to know and understand them completely.

What I do realize is that the American population is for the most part selfish. Anyone who thinks GMAC should offer 0% financing should be taken out in the woods and shot.

Have you all forgotten they are operating off of loans that WE are financing to them? Don't you want your money back? I do, and I want it back from those a-holes on Wall Street too!

The past 5 years of 0% loans have been part of the problem. They have allowed people to buy cars that they otherwise could not have afforded and have eroded the operational capital of the manufacturers.

Zero financing has also caused unrealistic consumer expectations regarding what they can afford and how often they can afford it...and this applies to more than just cars.

Finally, the manufacturers have adjusted their production to meet demand. I suspect that some economists would argue this is artificially inflated demand caused be the unrealistic consumer expectations for price/financing and self-serving immediate gratification. Yes, a vicious loop.

This has caused HUGE amounts of excess inventory, excess personnel that need to be laid off, and suppliers that now have excess inventory and reduced demand for their parts...causing them to lay off personnel, etc. Due to the massive size of the auto industry, the ripple effect is huge.

So before you start "flaming me" for this post, think about the last think you bought. Did you really need it? Was it purchased with discretionary income or are you delaying by extending your credit further? Could you have done without it for another month....another year?

The American consumer needs to "slow their roll" and consider saving prior to buying large ticket items, like cars. It's not hard to plan ahead and save money, especially at the slow pace GM is delivering our camaros.

Flame away.....

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Old 05-19-2009, 07:37 AM   #62
speedster
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Quote:
Originally Posted by josh1147 View Post
Ok,

Let's get a little academic on this topic. I've read through all the posts so far and I see very few people who have brought up or understand the Micro and Macro economics associated with this situation....nor would claim to know and understand them completely.

What I do realize is that the American population is for the most part selfish. Anyone who thinks GMAC should offer 0% financing should be taken out in the woods and shot.

Have you all forgotten they are operating off of loans that WE are financing to them? Don't you want your money back? I do, and I want it back from those a-holes on Wall Street too!

The past 5 years of 0% loans have been part of the problem. They have allowed people to buy cars that they otherwise could not have afforded and have eroded the operational capital of the manufacturers.

Zero financing has also caused unrealistic consumer expectations regarding what they can afford and how often they can afford it...and this applies to more than just cars.

Finally, the manufacturers have adjusted their production to meet demand. I suspect that some economists would argue this is artificially inflated demand caused be the unrealistic consumer expectations for price/financing and self-serving immediate gratification. Yes, a vicious loop.

This has caused HUGE amounts of excess inventory, excess personnel that need to be laid off, and suppliers that now have excess inventory and reduced demand for their parts...causing them to lay off personnel, etc. Due to the massive size of the auto industry, the ripple effect is huge.

So before you start "flaming me" for this post, think about the last think you bought. Did you really need it? Was it purchased with discretionary income or are you delaying by extending your credit further? Could you have done without it for another month....another year?

The American consumer needs to "slow their roll" and consider saving prior to buying large ticket items, like cars. It's not hard to plan ahead and save money, especially at the slow pace GM is delivering our camaros.

Flame away.....
Absolutely !! This is what caused the housing market crash too.

Just like the clip of the person who has been in Section 8 housing since 1949 and worked 1 year out of 58 (WE, the American people have been picking up the family tab for 57 years including her nice new 50" LCD TV)

"Just because I am poor, doesn't mean I need to live poor" Uh Huh...
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