Ford's darkest day in 5 years

[Royal Tiger]

Originally Posted by Thor142

Well lets face it. Paying an assembly line worker $40 an hour for doing a menial task is as smart as paying a burger flipper $15/hr. Of course corporations are going to look for alternatives. Don't worry the Mexicans will lose their $7 an hour jobs too once everything is automated.

Exactly. The US union employees priced themselves out of work.

[motorhead]

Originally Posted by SS 1LE

The longer terms aren't just so people can "afford" a more expensive car though. One of my family members is the GM at a car dealer and people are keeping their cars (not niche cars, "regular" ones) for less time now. In some cases only two or three years, and this is a BMW dealer. Many just do a longer term as they can offer (if your credit is good) a similar APR. They just want a lower monthly payment for a few years until they trade it in for a new one. They don't care that they have less paid off, as they still will get some cash back towards the next car, and they do it agian. I kinda see why people do it, and in the long run I guess it works for them. Would I do it, no, but differnt strokes for different folks...

Well that doesn't make sense either. If you take out a loan for 84 months along with putting no money down, as most folks do these days, you will be upside down very quickly and will owe more than the car is worth in those two to three years. Plus the intrest rate is higher on longer term loans. It's ironc that you use your family member being a GM of a BMW dealership to counter my first post. That gave me a good laugh. Thanks.

There is no good reason to good that far with a car other than wanting more than you should. The same goes for houses. I can't believe that people take out 30yr mortgages for a house. Yikes! I would hate losing all the intrest.

[motorhead]

Originally Posted by Thor142

Well lets face it. Paying an assembly line worker $40 an hour for doing a menial task is as smart as paying a burger flipper $15/hr. Of course corporations are going to look for alternatives. Don't worry the Mexicans will lose their $7 an hour jobs too once everything is automated.

Yeah, if you have a job that involves a repetitive task your days are numbered for sure.

[Normagene]

Originally Posted by Thor142

Well lets face it. Paying an assembly line worker $40 an hour for doing a menial task is as smart as paying a burger flipper $15/hr. Of course corporations are going to look for alternatives. Don't worry the Mexicans will lose their $7 an hour jobs too once everything is automated.

$40 an hour is what American Unions are all about. They organize, set the rules, and what company can afford a walkout/shutdown.

But the effect is long reaching, not only union workers, but the entire neighborhoods are hit. Look at the deterioration of Detroit. Carpenters, plumbers, electricians, bricklayers, shopkeepers, restaurants, and on and on go under as well when entire communities dependent on a plant.

Depending on who is elected president will determine the future of Ford in America. In as little as three years it's possible that Ford's will no longer be assembled in the U.S. How crazy, and insulting as an American, that Ford vehicles would no longer be made in the USA.

[Normagene]

Originally Posted by motorhead

Well that doesn't make sense either. If you take out a loan for 84 months along with putting no money down, as most folks do these days, you will be upside down very quickly and will owe more than the car is worth in those two to three years. Plus the intrest rate is higher on longer term loans. It's ironc that you use your family member being a GM of a BMW dealership to counter my first post. That gave me a good laugh. Thanks.



There is no good reason to good that far with a car other than wanting more than you should. The same goes for houses. I can't believe that people take out 30yr mortgages for a house. Yikes! I would hate losing all the intrest.

I'd think that most people probably take 30 years mortgages. It's almost the only way one can buy a house nowadays. Everything is so expensive.

We had a 30 yr loan, but put extra money directly on the principle with each payment. End result: Paid off the mortgage in ten years, two months, 122 payments. Saved almost 200K in interest.

Craziest part, the bank wouldn't approve me for a 15 yr mortgage, we had to take the 30.

[SS 1LE]

Originally Posted by motorhead

Well that doesn't make sense either. If you take out a loan for 84 months along with putting no money down, as most folks do these days, you will be upside down very quickly and will owe more than the car is worth in those two to three years. Plus the intrest rate is higher on longer term loans. It's ironc that you use your family member being a GM of a BMW dealership to counter my first post. That gave me a good laugh. Thanks.

There is no good reason to good that far with a car other than wanting more than you should. The same goes for houses. I can't believe that people take out 30yr mortgages for a house. Yikes! I would hate losing all the intrest.

I never said they don't put anything down did I? Nope...

There are advantages to longer term loans as outlined in a previous post. People also think paying with cash is always the way to go, it's not. Loans build credit, and keeping that cash as emergency funds, or for investment purposes can put more money in your pocket in the long run. I get why you think the way you do, it's very old school, but in many cases those aren't the best options.

[motorhead]

Originally Posted by SS 1LE

I never said they don't put anything down did I? Nope...

There are advantages to longer term loans as outlined in a previous post. People also think paying with cash is always the way to go, it's not. Loans build credit, and keeping that cash as emergency funds, or for investment purposes can put more money in your pocket in the long run. I get why you think the way you do, it's very old school, but in many cases those aren't the best options.

There is nothing old school about math my friend. It's pretty universal. Give me a valid reason and I may think differently.

[motorhead]

Originally Posted by Normagene

I'd think that most people probably take 30 years mortgages. It's almost the only way one can buy a house nowadays. Everything is so expensive.

We had a 30 yr loan, but put extra money directly on the principle with each payment. End result: Paid off the mortgage in ten years, two months, 122 payments. Saved almost 200K in interest.

Craziest part, the bank wouldn't approve me for a 15 yr mortgage, we had to take the 30.

That's great that you had the discipline to get ahead of the game. Your post that you saved 200k in interest proved my point. You are not the norm though.

[Normagene]

Originally Posted by motorhead

That's great that you had the discipline to get ahead of the game. Your post that you saved 200k in interest proved my point. You are not the norm though.

Thanks, we've always done the same thing with all our large purchases such as cars/trucks. With vehicles the interest savings is only two grand or so, but every bit counts.

By the time I was forty everything was paid for in full. Plus I was making almost the same amount from my investments as I was from my job! Like Albert Einstein once said "most people don't understand the power of compounding interest".

[hockeylover86]

Originally Posted by Thor142

Well lets face it. Paying an assembly line worker $40 an hour for doing a menial task is as smart as paying a burger flipper $15/hr. Of course corporations are going to look for alternatives. Don't worry the Mexicans will lose their $7 an hour jobs too once everything is automated.

Paying that assembly worker $40/hr isn't the biggest issue, its having twice as many retirees on the payroll as active employees.

I know an older guy who's mother in law is in her late 90's. Her husband worked for Chrysler until sometime in the 70's, retired, then died. She has been collecting his pension longer than he actually worked for the company.

I think GM shed all those pensions to the UAW, but I don't know if Ford did.

[MEDISIN]

Originally Posted by hockeylover86

I think GM shed all those pensions to the UAW, but I don't know if Ford did.

That was the plan but Obama wouldn't let his UAW buddies take a haircut. If I recall, it was renegotiated but still a ridiculous sum GM is on the hook for. They will never be profitable like the other major automakers (VW and Toyota) as long as they hang from the UAW noose.

[Normagene]

I'm thinking about ordering a 2017 Ford Raptor! This could be the last year Ford builds/assembles anything in the U.S.

I remember when car commercials/ads use to say "Made in the USA" but the law required them to be 51% or more made in the U.S. so the lobbyist with their suitcases full of cash money went to DC and got it so they could say "Made in America" which includes Canada and Mexico, as in North America.

A decade later, lobbyist with cash money, once again greased the palms of our honest/wonderful politicians and got the law to include South America as well. So now when you hear "Made in America" that's includes anywhere in North or South America.

[FenwickHockey65]

Originally Posted by Normagene

I'm thinking about ordering a 2017 Ford Raptor! This could be the last year Ford builds/assembles anything in the U.S.

I remember when car commercials/ads use to say "Made in the USA" but the law required them to be 51% or more made in the U.S. so the lobbyist with their suitcases full of cash money went to DC and got it so they could say "Made in America" which includes Canada and Mexico, as in North America.

A decade later, lobbyist with cash money, once again greased the palms of our honest/wonderful politicians and got the law to include South America as well. So now when you hear "Made in America" that's includes anywhere in North or South America.

I'm not sure what you're smoking but Ford has plenty of assembly left in the United States.

Also it's not like it's a closely guarded secret where automakers build vehicles. If you want a car built in the US then check the VIN before you buy.

[Thor142]

Originally Posted by Normagene

I'm thinking about ordering a 2017 Ford Raptor! This could be the last year Ford builds/assembles anything in the U.S.

I remember when car commercials/ads use to say "Made in the USA" but the law required them to be 51% or more made in the U.S. so the lobbyist with their suitcases full of cash money went to DC and got it so they could say "Made in America" which includes Canada and Mexico, as in North America.

A decade later, lobbyist with cash money, once again greased the palms of our honest/wonderful politicians and got the law to include South America as well. So now when you hear "Made in America" that's includes anywhere in North or South America.

I don't really care where my stuff is made if the quality is there and the price is right. Things being more or less equal I will buy American but I'm not gonna pay double for something of the same or lesser quality for the made in USA sticker.