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You can finance a car for 9 years now. Dont rule out ever increasing guv regs as huge contributor of auto prices, but thats another thread.
I say GM falls like a house cards again.
I don't get auto loans compared to home loans.
Buy a $75,000 house...
Buy a $75,000 luxury vehicle...
A 5 year loan on one and a 15-30 year loan on the other.
If you get a 5 year loan on both, the payments are double for the house compared to the car.
I know some hardcore Chevy guys, that gave up on them. They are driving Tundras and F-150's now.
The interiors would fall apart, if you drove on rough roads for very long and the rear main seals would start oozing oil before 60,000 miles.
My Dad has been a Ford guy forever, he always wanted plain Jane type equipment in his trucks, 3/4 ton, rubber floor, vinyl seats, stick shift and no a/c. He always bought new every 100,000 miles and kept his truck the same till 2008 when he couldn't find a Ford that met his liking and he went to a Silverado. Man that truck was horrible, it was in the shop more than he drove it during the first two years, rear seals being a main issue, plus front wheel bearings. By 2011 he traded out and was back in a F250. That was his first and only GM product.
One thing that I have noticed recently is the Ram, obviously the F150 is the most popular truck on the road but I'm starting to see as many Rams as GM trucks.
I doubt we'll ever see the near-monopolistic GM of the 1950s again, but will GM continue to make money or was the bankruptcy the beginning of the end?
The auto industry in this country is nothing like it was in the 50's for automakers.Its a limited market compared to say China; especially as far as growth is concerned. Internationally they are not too big to fail but I think they will survive but just dominate. In fact many industries will not dominate like they did in post war era of a mostly destroyed world manufacturing base.
yes GM did file for reorganization, however, the obama administration stepped in with a "prepackaged" bankruptcy and stole the company from the rightful owners, giving them a few pennies on the dollar. they did the same thing with chrysler as well. they then turned around and gave large chunks of each company to the unions. so inn reality neither company went through a proper bankruptcy.
the odds of these companies going bankrupt again? as noted 100%. when it will happen is another story though.
Impossible, the Fedgov will just bail them out again.
Or some judge will shaft more of their first-line creditors...and let them skate on even more debt!
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