Currently General Motors is offering payment protection plans in case a car buyer loses their job. Now if GM goes bankrupt then how does that help? For that matter how does 0% financing help the car companies stay afloat? (If only the world made sense.)
I understand that with the recession and all the uncertainty regarding the Big Three that automobiles are leaving dealers’ lots at a snail’s pace. However, my points were if GM goes bankrupt then how exactly could a company with no money pay my car loan? And if they keep selling cars at 0% interest through their own finance firm (GMAC), then they really aren’t making anything on the car except the monthly loan payment spread across as many as seven years. It doesn’t take much schooling to figure that out, yet they still seem to have not.
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