Comments on: GMAC stopping subsidized car leasing in Canada, considering same in U.S.

By: brassmonkey

brassmonkey — Wed, 30 Jul 2008 00:21:57 +0000

I didn’t know Cerberus owned the other part of GMAC. Can’t help but laugh. How bad is this whole banking and credit thing going to get?

By: beatusmongous

beatusmongous — Tue, 29 Jul 2008 23:29:53 +0000

My first financial was through a local bank, and my latest was through Chase. The next one will probably be through my credit union.

By: inline6

inline6 — Tue, 29 Jul 2008 23:09:49 +0000

Residuals are dropping on SUVs and trucks, which hurts the American Three more than others, but hurts Nissan, Toyota, and Honda, too, in that order.

Residuals are rising on passenger cars. What you guys fail to understand is that GM and Chrysler vehicles aren’t exclusively leased from GMAC and Chrysler Financial. Other financial companies do leases, too. So it’s not like the options are going to go away.

The state of New York, for a time, ended car leasing of all types from all companies for awhile. Did that affect sales? Yes, but not disasterously.

Also, GM passenger car resale values have been skyrocketing since about 2005.

By: frost

frost — Tue, 29 Jul 2008 21:44:30 +0000

the thing is most GMAC lease Returns don’t even sell at auction for what they are worth. a 3 year old Silverado you can get as cheap as $7000 and that is with the more popular options in the truck. almost all GM cars and trucks have the worst resale values anywhere, even if they stopped offering lease their car line up would still suffer from the same crappy trade in / resale value.

By: johnnycanuck

johnnycanuck — Tue, 29 Jul 2008 21:23:15 +0000

If they’re already hooped on all the current lease deals, so be it. Doesn’t that mean any new lease deals could be written to reflect current conditions? Or is the residual value so far in the tank that you could move up 2 ranks in vehicle for the same payment going Japanese or European?

By: RaineMan

RaineMan — Tue, 29 Jul 2008 21:14:42 +0000

Well… looks like the end of domestic leasing period. That is really going to hurt them. Now all the folks that looked at leasing Malibus and Impalas will be going over to Honda or Toyota.

By: xyunya

xyunya — Tue, 29 Jul 2008 21:13:15 +0000

That will half GM “sales”.

By: Need4SSpeed

Need4SSpeed — Tue, 29 Jul 2008 20:38:47 +0000

Saw that coming… I forgot Cerberus owned majority stake in GMAC…

By: jayjc08

jayjc08 — Tue, 29 Jul 2008 20:20:12 +0000

Really? After a 2.3 billion dollar loss they “may not post a profit”?

Please LLN, stop opening questions just to provoke “certain” readers to post stupid nonsense, like all the recent reports about Chrysler going under, etc.. While ENTIRELY possible, it most likely won’t happen in the manner your reporting.

And another favor, please START posting damn sources! I don’t enjoy guessing whether or not your illustrations are legitimate (i.e. the recent Taurus illustration, etc.).
.
.
Leases, mortgages, etc… IF possible I would stay away from any sort of debt, especially one that isn’t necessary.