Comments on: GMAC suspends financing to some Chrysler dealers

By: bdizzlefizzle

bdizzlefizzle — Fri, 26 Jun 2009 19:55:57 +0000

This isn’t Chrysler, it’s independent dealers. And these dealers have weak financial positions, so GMAC is cutting them off because it can’t afford to lend to someone who can’t pay it back.

By: yarddog82abn

yarddog82abn — Fri, 26 Jun 2009 17:28:19 +0000

@ dbizzlefizzle…

I know, but now that Chrysler has clear bankruptcy why dose GMAC cut them off?

Aren’t them now in a better position? It just seems funny to me…..

By: bdizzlefizzle

bdizzlefizzle — Fri, 26 Jun 2009 14:31:30 +0000

@leftwingagenda, you’re spot on. GMAC will do the same thing to some GM dealers soon enough. They have no choice. They took on massive losses, and must right the ship. They’re controlled by Cerberus, so they must return cash to Cerberus, and that takes being tough on GM and Chrysler. Don’t forget, Cerberus just took quite a beating financially, so they must start getting serious returns from their big holdings.

Also, @yarddog, aside from learning how to spell, you also should study history. GMAC had ceased all financing of GM vehicle loans at the end of last year/early this year, and only started up again a few months ago. They actually paid GM dealers to place loans with other finance companies. That’s how much they were losing on each loan – they lost less by paying dealers to not take a loan than to take it. You think that didn’t hurt GM sales? No question, if buddies were looking out for buddies, that wouldn’t have happened.

This is business. Pure and simple. Not a game.

By: leftwingagenda

leftwingagenda — Thu, 25 Jun 2009 22:57:57 +0000

the chrysler situation is developing ahead of the gm situation, so who knows, you may very well see some gm dealers in the same boat…just because it isn’t happening right now doesn’t mean it won’t…chrysler dumped dealers before gm did, that didn’t mean gm wasn’t dumping dealers…

By: yarddog82abn

yarddog82abn — Thu, 25 Jun 2009 20:48:46 +0000

Well no $hit! GMAC and GM still have Exec. ties. Buddy’s looking after buddy’s, cut off the competition sources, and it’s better for…GM…. Someone had to make the decision, why ain’t any of the GM dealers having the same out come?

@ mayer_ray_nagin… as to the vidio…

Funny how it’s also easy to point out the fall guy, yet we all abuse the system but no one admits that they have. Worrying about the state of the economy is not going to help. This whole “Get Rich of die Tying” and “I needs to get mines, before you get your’s” mind set is what got us hear in the 1st place.

But thanks to the internet everyone can express their 1st amendment right.

I just prefer to be herd, then to listen….

By: johnnycanuck

johnnycanuck — Thu, 25 Jun 2009 20:47:01 +0000

I always wondered what happened to HemiRoadRunner.

By: mayer_ray_nagin

mayer_ray_nagin — Thu, 25 Jun 2009 19:58:55 +0000

This is all a big scam, and the guy in the video below sums up how most of us feel …

……. http://www.youtube.com/watch?v=MoAyBb8D5GU