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Alexander Haig
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Discussion Starter #1
Employee pricing is gone, expiring at midnight on 9/30/08. Add to that the $880 price increase and thG8 pricing is moving ever closer to its competitors which had to this point been several thousands higher.

New program:
$1000 cash back on 2008's OR 0% APR for up to 48 months. Regular rate for 60 months appears to be 6.9% If you are payment shopping teh cashback is in your favor, if you can afford a shorter term then the 0% is in your favor.
 

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Longtime Member
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1,556 Posts
I hope they extend the 0% to 60 or 72 months :wink2:
 

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Don't worry the auto industry just reported piss poor number, AGAIN.

They will have no choice but to offer incentives. Just wait.
Just announced on CNBC, Ford September sales down 34.8%! GM and Toyota to follow later in the day. Main reason, no credit available to finance sales. Ummmmm, I think we ought to argue more about the pork we can add to the financial loan package in front of our Congressional members, don't you?!?! You know like the excise tax break for varnishless arrows contained on page 300! Yes, this simple package is now up to more than 300 pages in the Senate version! It just gets better!:cursin::The_Villagers::banghead::mad:
 

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GM just announced September sales.........down 19%. Their stock is up on the numbers as the "experts" had predicted a better than 20% drop! So they beat the numbers!:wink2:
 

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How can GMAC make any money when it lends at 0%? Will the Federal government need to bail out GMAC and GM in the near future?
 

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Alexander Haig
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Discussion Starter #9
How can GMAC make any money when it lends at 0%? Will the Federal government need to bail out GMAC and GM in the near future?
Because GM pays GMAC to lend at 0%. GMAC does not lose a dime on any transaction. That's why GM no longer owns it 100% Go three months without paying your mortgage and in about 3 years you might have to find a new place to live, go three months without paying your car and you are walking. Most houses cannot get hauled away by repo at 2 AM.
 

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GM just announced September sales.........down 19%. Their stock is up on the numbers as the "experts" had predicted a better than 20% drop! So they beat the numbers!:wink2:
I quote myself to correct myself. CNBC just corrected themselves, GM down 16%. Toyota down 29.5% for September. Chrysler still trying to find the abacus to add up their numbers, all both of them!:laugh:
 

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Of couse things are diff now days, but what I do/did is go through my wifes credit union and can usually get a low int. rate, about 4.9 for 72 months for example. If you finance outside the dealership, it is like paying cash to them, and you can then still get the repates...
 

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Cynical A$$hole
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GM just announced September sales.........down 19%. Their stock is up on the numbers as the "experts" had predicted a better than 20% drop! So they beat the numbers!:wink2:
http://jalopnik.com/5057594/gm-september-sales-drop-156

General Motors reported a 15.6% decline in September sales versus the same period a year earlier. While still posting a decline, GM topped analysts expectations of an approximately 25% drop. GM was hurt by the same market forces affecting other manufacturers, but the company likely stemmed some of the bleeding by extending its "Employee Pricing for Everyone" incentive through the end of September. More sales numbers as we receive them.
 

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Money Pit
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Because GM pays GMAC to lend at 0%. GMAC does not lose a dime on any transaction. That's why GM no longer owns it 100% Go three months without paying your mortgage and in about 3 years you might have to find a new place to live, go three months without paying your car and you are walking. Most houses cannot get hauled away by repo at 2 AM.
Also, if you miss one payment then your rate skyrockets...
 

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According to the article:

The bill sets aside $7.5 billion in taxpayer funds needed to guarantee $25 billion in low-interest loans to help General Motors Corp, Ford Motor Co and Chrysler LLC produce more fuel-efficient cars and trucks.
and

Major automakers have said that will require up to $100 billion in combined new investment to retool factories and invest in new technology, including next-generation battery-packs for electric vehicles.
Doesn't sound to me like that money will have any direct impact on the cost of vehicles to the consumer.
 

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wish they would do some incentive on the 2009s. The dealer next to my office has 5 of them sitting. I would buy one but I feel that as soon as I do they will offer 0% for 60 or a $2000 rebate and I will be pissed. I pretty much decided to hold on and get one for myself for Christmas.
 
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