Car Payment Welfare - OMFG!

[Razorguns]

hahahaha. OMFG, are things that bad now that companies make payments for you if you can photocopy some documents that say you're on UI? hahaha.

Gotta tell ya, we're the first nation in history to start programs like this! $5 TRILLION to Wall St, $2BN to Hamas and Pakistan. Woo Hoo!

Job threatened? Buy a car anyway, Detroit says - Autos- msnbc.com

DEARBORN, Mich. - Ford Motor Co. and struggling rival General Motors said Tuesday they would make car payments for some customers who lose their jobs.

CEO Fritz Henderson said GM's new "Total Confidence" program will make up to nine car payments of $500 each for customers who have lost their jobs through no fault of their own. Customers must qualify for state unemployment to be eligible for the program. The program starts April 1 and runs until April 30.

r

 

[Bikini Mod]

I gotta give up my jaguar?

 

[ponyfitness]

So basically you get $4500 off a car if you don't have a job. Man they are getting desperate to sell things.

And isn't that the same way the housing market tanked? Extending credit to people who obviously can't afford it?

 

[Razorguns]

So basically you get $4500 off a car if you don't have a job. Man they are getting desperate to sell things.

And isn't that the same way the housing market tanked? Extending credit to people who obviously can't afford it?

Then after 9 payments - said people still have no money and make no payments. And with people defaulting, back to square one we go!

The credit score system is what kept people in check, forcing them to make payments. When everyone's credit score is fucked, and businesses don't care about credit scores to lend credit -- why would people care about making payments???

Hell i'd love to buy a car, enjoy it, and then just park it outside for whenever the repo man takes it. Until then, free car baby! Don't worry kids, $12BN a month in iraq and trillions to banks will fix things. King Obama knows what he is doing.

r

 

[SpyWizard]

that's what socialist governments do for the people.. ya'll wanted change...

 

[shrimp poboy]

n b4 mitch

 

[chris302001]

so i could get a new car every 9 months?

 

[ponyfitness]

I just read Ford is doing the same thing - except it is up to $700 a month for 12 months!? That's $8000.

 

[Dial_tone]

Ford isn't taking government money....translation = not socialist. I don't see how this differs that much from companies in other industries offering "no payment due for x months" terms.

 

[needtogetarmy]

Ford isn't taking government money....translation = not socialist. I don't see how this differs that much from companies in other industries offering "no payment due for x months" terms.

+1

Someone crunched the numbers and it makes economic sense. Otherwise they wouldn't be doing it.

 

[Dial_tone]

This is something I'd look at if it were 2011, when I will need a new car. I'm 99% sure my job is solid but you never know.

 

[Razorguns]

"no payment due for x months" terms.

That's a delay.

That's not the same as 'we make the payments for you'

How long before they start dogn that with houses? They should start doign that with school loans too! (join UCLA, we pay your tuition first 9 months!). Like I said, I'm gonna buy a car, enjoy it for free 9 months, then park it outside and let it wait for the repo man.

r

 

[Cutiebaby]

I am lost, can someone sum this up quick like for me please?

You can get a brand new car, and car payments made as long as you are on welfare?

FUCK, dude I am off to the welfare office then off to get a Ford! Laterz

 

[Razorguns]

I am lost, can someone sum this up quick like for me please?

You can get a brand new car, and car payments made as long as you are on welfare?

FUCK, dude I am off to the welfare office then off to get a Ford! Laterz

Yep. Since I don't give a shit about credit scores, never did. And since credit scores will soon be worthless, fuck, buy a car, enjoy 9 months of it -- then wait til it get repo'd. Woo hoo, free car dude!! All paid for by uncle sam!!

r

 

[Cutiebaby]

Yep. Since I don't give a shit about credit scores, never did. And since credit scores will soon be worthless, fuck, buy a car, enjoy 9 months of it -- then wait til it get repo'd. Woo hoo, free car dude!! All paid for by uncle sam!!

r

LOL, no shit dude.

Anyhow, I agree with whatever was stated by whomever already..The banks and the car companies will be in the same situation as soon as the 9 months is up. People still will not be paying for the car, the car will get repo'd and then of course back to square one. The bank gave the loan, and the car company gave the car..So what then? They will then auction the nice newer car for 1/2 of the debt owed.SO let's say someone gets a 20,000 car they pay only interest for the first year anyways. So they will auction that car off for about 9,000 or so..

Fuck, good thinking!

 

[Razorguns]

LOL, no shit dude.

Anyhow, I agree with whatever was stated by whomever already..The banks and the car companies will be in the same situation as soon as the 9 months is up. People still will not be paying for the car, the car will get repo'd and then of course back to square one. The bank gave the loan, and the car company gave the car..So what then? They will then auction the nice newer car for 1/2 of the debt owed.SO let's say someone gets a 20,000 car they pay only interest for the first year anyways. So they will auction that car off for about 9,000 or so..

Fuck, good thinking!

Doesn't matter. Obama then will just bail out the banks. He never says no to banks. So actually it's a win/win situation. GM sells the car, you get a free car for 9 months and banks get their money from Obama when u don't make payments.

Sweet.

r

 

[vixensghost]

Sounds like a Fannie and Freddie housing plan; but only with wheels.......