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I'm mixed on this one. I can see how it will get people into showrooms, but more than likely it will get people into showrooms that have no business there to begin with.
Think about who this will 'protect' - the people without a sufficient emergency fund in place in case they lose their jobs in the first place. If you do not have at least 6-9 months CASH on hand to get yourself through something like this, you have NO business taking on a new car note.
This is a vicious circle for the automakers. While people are doing worse overall financially, GM needs more people to buy new cars, see the cycle? :(
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