In Latest Attempt To Boost Sagging Sales, GM Once Again Offering Interest-Free Financing On Numerous Models

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Wed, 03/02/2011 - 19:02 | 1013181 LawsofPhysics
LawsofPhysics's picture

Fucking awesome.  Time for a fire sale, please?

Wed, 03/02/2011 - 19:20 | 1013251 cougar_w
cougar_w's picture

Skip the sale part. Go straight to the fire.

Wed, 03/02/2011 - 20:15 | 1013434 Rusty Shorts
Rusty Shorts's picture

Glad you around again cougar.

 

Wait, what's this?

 

US Auto Sales Surge 27 Percent in February

http://www.youtube.com/watch?v=QWtLZIjkyuc&feature=feedu

Thu, 03/03/2011 - 05:03 | 1014343 OldPhart
OldPhart's picture

"how long before GM files Chapter 22?"

Ummm, I thought government entities had to file Chapter 9.

Thu, 03/03/2011 - 09:17 | 1014532 johnQpublic
johnQpublic's picture

'how long?'

 

not for days...

oops

not four days

Wed, 03/02/2011 - 19:03 | 1013183 EscapeKey
EscapeKey's picture

Someone is trying to keep the price up, so he can cash out his stock options in time.

Wed, 03/02/2011 - 19:08 | 1013205 mynhair
mynhair's picture

That someone better hurry.

Wed, 03/02/2011 - 19:06 | 1013201 Just Observing
Just Observing's picture

Been car shopping this week.  Tried to look at a Chevy Envoy, but the sales person acted like he didn't give a crap about showing us one.  We bought a Subaru Outback.

Wed, 03/02/2011 - 19:31 | 1013291 mynhair
mynhair's picture

F did that to us 6 months ago.  Went with an Accent.

Wed, 03/02/2011 - 20:00 | 1013396 Logans_Run
Logans_Run's picture

You can thank the sales person for directing you toward the Subi. You will be much happier in the long run.

Wed, 03/02/2011 - 20:17 | 1013447 ghostfaceinvestah
ghostfaceinvestah's picture

agreed, those are very nice cars for the money

Wed, 03/02/2011 - 22:15 | 1013699 DrSandman
DrSandman's picture

Sure -- as long as you don't have to buy premium gas for the 20mpg gas hog.  Oh wait...

Thu, 03/03/2011 - 00:53 | 1014096 MarketTruth
MarketTruth's picture

Agree, Subie is FAR BETTER built and more durable vehicle than a Government Motors car.

Wed, 03/02/2011 - 23:10 | 1013842 A Nanny Moose
A Nanny Moose's picture

Agreed. Have a 2000 Forester with 240K miles on original clutch and rear brakes. Never have to chain up for snow. Dirt, ice, pavement, gravel it's all the same. Once you drive AWD you won't go back.

Dislodged a Jeep from a snow drift in the La Sal Mountains one time. Next to my mountain bikes and rafts, it's the best investment I ever made.

The Mighty Roo!

Thu, 03/03/2011 - 00:27 | 1014036 Lothar the Rott...
Lothar the Rottweiler's picture

2002 Impreza Outback Sport.  148K.  No major issues aside from wear/tear.  If the engine isn't underwater, and you have good tires, you're getting through it.

Go Subaru and don't look back!

Wed, 03/02/2011 - 19:09 | 1013203 Big Corked Boots
Big Corked Boots's picture

Get me a six liter V8 pickup truck in time for $5.00 gasoline.

Outstanding. Saudis need welfare, too... Glad to help.

Wed, 03/02/2011 - 19:09 | 1013208 Village Idiot
Village Idiot's picture

I'm waiting for those "Chapter 9's" to start rolling in. 

http://en.wikipedia.org/wiki/Chapter_9,_Title_11,_United_States_Code 

Wed, 03/02/2011 - 19:14 | 1013222 oogs66
oogs66's picture

I love chapter 22 :) and since they are owned by the government why shouldn't they say one thing and do another? And don't give any crap about being owned by the people - where was my invite Yo the Detroit auto show?

Wed, 03/02/2011 - 19:17 | 1013230 johngaltfla
johngaltfla's picture

Uh, last I check, Duct tape is NOT adequate for fixing a torpedo hole in the hull of an aircraft carrier. Or is it 2008 again and I've just been drunk for 2 years?

Wed, 03/02/2011 - 19:16 | 1013231 Misean
Misean's picture

American-Leyland needs to follow the footsteps of its British cousin and build smaller, crappier cars like this:

http://www.google.com/imgres?imgurl=http://www.motorbase.com/pictures/co...

 

Wed, 03/02/2011 - 20:37 | 1013487 gmj
gmj's picture

Google gives me a malware warning on that site.

Wed, 03/02/2011 - 20:42 | 1013496 Misean
Misean's picture

That's not terribly surprising. The Morris Marina was a truly awful vehicle.

Thu, 03/03/2011 - 09:11 | 1014518 Zero Govt
Zero Govt's picture

yes but imagine flogging the Marina with 0% down payment and 0% interest and a contract that says we don't give a fuk who you are....

...I like the way the US car market is going, much like US healthcare and US housing before it... the Govt doesn't just give you dumb, it doubles up on dumb and then triples it... splendid !!!

Wed, 03/02/2011 - 19:18 | 1013234 deselby
deselby's picture

Subprime?  Buicks and Cadillacs are fine cars, as reliable as anything else if maintained.

 

Wed, 03/02/2011 - 20:03 | 1013400 Logans_Run
Logans_Run's picture

But they don't sell enough of either of them to make a viable business.

Wed, 03/02/2011 - 21:11 | 1013534 impending doom
impending doom's picture

Ha! Spoken like a person who has never owned a well-maintained cadillac.

Wed, 03/02/2011 - 21:24 | 1013564 gorillaonyourback
gorillaonyourback's picture

my 62 coupe de ville still runs fine.  she needs a little lovin all the time but she puts out

Wed, 03/02/2011 - 22:07 | 1013666 TemporalFlashback
TemporalFlashback's picture

Subprime is referencing subprime auto loans - not the car. Although, after thinking about it, yes, sub-prime cars as well.

Wed, 03/02/2011 - 23:17 | 1013866 A Nanny Moose
A Nanny Moose's picture

Maintained? They may drive like crap, but I am pretty sure those front driver Buick V-6's up to the early 90's can be lubricated and cooled using only air.

Wed, 03/02/2011 - 19:18 | 1013238 cossack55
cossack55's picture

I was leaning toward a pickup to hold all the groceries from my SNAP card, but, with the rise in food prices I think I'll opt for a Smart Car instead.

Wed, 03/02/2011 - 19:19 | 1013239 cougar_w
cougar_w's picture

It's interest-free cuz ... there ain't no interest in it at all.

I think I could be an eee-con-oh-mist. I rilly do.

Wed, 03/02/2011 - 20:19 | 1013452 Rusty Shorts
Rusty Shorts's picture

Bingo

Wed, 03/02/2011 - 19:18 | 1013241 jkruffin
jkruffin's picture

I made mention last week that a friend of mine just had a Cpt 7 bankruptcy discharged and 3 days latter his mailbox was full of financing arrangements for a new GM from companies spanning from DC to Florida.  So I guess if your name is Government Motors, and you need to find buyers for your product you get your sales lists from the bankruptcy courts to peddle.  What's more is the guaranteed loan offer. Sound familiar Benny? Timmy? Bammy?

The FED has mortgaged our future......this is the next housing bubble waiting to collapse. And it will.

Wed, 03/02/2011 - 19:18 | 1013244 b_thunder
b_thunder's picture

Ford - gimme a break!  Thay've had a good run, mainly b/c of the troubles the others were having and the resulting "positive" press. 

But lately they've had recalls every week now, just like  in the early- and mid-2000s.  Ford again stands for "fix and repair daily." 

 

Wed, 03/02/2011 - 19:26 | 1013266 MachoMan
MachoMan's picture

that would be F.A.R.D.

Wed, 03/02/2011 - 19:36 | 1013308 Big Corked Boots
Big Corked Boots's picture

First

On

Race 

Day

Thu, 03/03/2011 - 02:14 | 1014239 Village Idiot
Village Idiot's picture

"Ford...the heartbreak of today's Chevrolet."

Remember?

Wed, 03/02/2011 - 19:48 | 1013340 Don Birnam
Don Birnam's picture

"Fix Or Repair Daily"

"Ford Owners Repair Daily"

And my personal favorite, one which I have found myself on the wrong side of,
"Found On Road Dead"

Ford. Quality is Job 1.

Thu, 03/03/2011 - 05:13 | 1014347 OldPhart
OldPhart's picture

My '48 F-3 still runs, don't know the mileage since the speedometer cable broke in the 60's and it never went fast enough to matter.

Wed, 03/02/2011 - 19:20 | 1013245 Hooter Shaker
Hooter Shaker's picture

There is no such thing as interest free financing on a new car.  You forfeit the rebate which is equilvalent to rolling the interest into the principal.  It's smoke and mirrors.  Nothing to see here...

Wed, 03/02/2011 - 19:22 | 1013256 cougar_w
cougar_w's picture

There is no such thing as interest free financing on a new car

What do you mean, no such thing? I've no interest in financial one of their cars and never will have any.

Wed, 03/02/2011 - 19:24 | 1013263 Id fight Gandhi
Id fight Gandhi's picture

Best sellers are still the light trucks getting sub 20mpg.

So they'll have to take steep loses as gas soars just like 2008. Oh and if you own a gas guzzler forget resale values, they're plunging.

Wed, 03/02/2011 - 19:28 | 1013277 MachoMan
MachoMan's picture

I might buy an equinox if they'll knock off more of a discount...  I would much rather buy japanese, but if they'll discount enough I'll buy american...  Hell, some of the jeep models you can get for ~$15k new already...  drive it for 5-7 years and throw it away...

Wed, 03/02/2011 - 19:27 | 1013278 jkruffin
jkruffin's picture

Don't you love the fuzzy math these car dealers use?  Their sales increased @ 50% in one month,  WOW.  They sold 6 vehicles to Bernanke instead of 4.  All in one month. That's amazing.

Look around your military bases and government buildings folks, see the brand new GM cars all the military officers and DoD employees are driving on your tax dollar. The main buyer has been the government for 2 straight years and counting.

Wed, 03/02/2011 - 19:31 | 1013289 poggi
poggi's picture

Why not?  Especially when the Fed is backing your play with its printing presses?

Wed, 03/02/2011 - 19:34 | 1013301 mynhair
mynhair's picture

Meanwhile.....

The new Connecticutt school will not be named after Byteme Biden.....

Wed, 03/02/2011 - 19:42 | 1013329 max2205
max2205's picture

The definition of insanity is......

GM is going to blow up again

Think of the numbers they would report if only mark to fantasy was in their grasp

Wed, 03/02/2011 - 21:09 | 1013339 Billy Shears
Billy Shears's picture

This is how it works: gov't bails out any, and I mean any business or anyone, and all Americans should boycott that particular person or entity, no exceptions. Sure, over the years, we as taxpayers have put 10 of billions into this black-hole and we'll never get it back. So what, we owe trillions anyway; a mere sack of shells. But, and this is the hook, we have the satisfaction of knowing now that companies are on notice: take a bailout and don't expect to sell any of your stuff to the taxpaying public, at least not to me. Both collectively and individually this is a powerful message to send to the market: bailout=pariah=market failure.

Wed, 03/02/2011 - 21:50 | 1013619 Clockwork Orange
Clockwork Orange's picture

+10,000,000,000

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