Wow! GMAC is the only one. There’s a surprise (sarcasm).

Saga continues. I reckon it is not counted as auto money, but bank money. Why not give it to a working bank?

So the next time you see a Gov’t Motors or Crisisler ad for 0% financing, just remember that its your hard-earned tax dollars going down the drain.

Also, any time you see the “fine print” TV commercials for “ALLY BANK”… its really GMAC.

Greg, when you see a 0% ad for financing GMAC is not the one giving the deal. The automaker is supplying the money for the incentive. GMAC/Ford Credit/whatever are lending at market rates.

So I guess you can believe that your money is going down the drain if you want, but again, more misinformation on this site due to lack of knowledge or just trying to rile things up.

The real reason GMAC is in financial trouble is the same one all the other banks are in. The loans they made to dealers are upside down due to the plummeting of property values, massive numbers of dealers going out of business and folks that cannot make their car payments due to job loss.

STOP!! When will it stop!

GMAC does provide mortgages too you know. as it shows on the sign in the pic.

for what so the ceos can have big party and buy more jets?

Govt Involvement = FAIL.

The Federal Government holds a huge stake in GM, by some
accounts upwards of 60%. So with that in mind, though it is true
that the automakers borrow the money at market rate from the
lending arms, i.e. GM from GMAC, tell me, am I over reaching
with following assessment? The Feds own a significant portion
of both GM & GMAC. The Feds have pumped billions of
taxpayer dollars into both companies. Isn’t it then true that any
incentives given by either company are actually tax payer
dollars? If all of that is true, why is the statement about tax
payer dollars “going down the drain” misinformation? While you
may be of the opinion that it is a good use of taxpayer money,
you cannot argue that it is money that belongs to the U.S.
taxpayer. It is money we have already had taken from us or will
have taken from us in the future. As a U.S. taxpaying citizen,
I believe our money could be more wisely spent. Additionally,
does this not favor GM over all other automakers? I am not
aware of the Feds assisting Ford, Toyota or any other
auto manufacturer in giving away free money to boost their
sales.

I know this is and auto enthusiast website, but I wonder if there are other websites complaining about the other uses of taxpayer money. Do people sit around complaining about how many Presidential helicopters are purchased with taxpayer money? How about the fuel used in Air Force One for Obama to go try and get the Olympics for Chicago? Remeber the $1000 haircut Clinton got while Air Force One was sitting on the tarmac several years ago? These are just a few of the ways that we know about how taxpayer money is spent. Imagine every day how much of “our money” is spent without even knowing. We have no choice in how “our money” is spent. It is taken out of our checks, regardless if it was sent to GM or not. At least we have a say so in this particular investment. We can support the American auto industry, knowing that we are all investors in it, knowing we all want it to succeed.

GTA, you go ahead and support the theft of a company and transfer of its assets as a politcal payoff. I hope it rots along with everyone in DC and encourage everyone I know to boycott its products.

“incentives” are not money down the drain.

They are a marketing tool that virtually every automaker uses. So to compete and stay in business you pretty much need to use the same tools.

We can all have our opinion on what was a better use of our money but I think the facts pretty much tell us that even if only Chrysler was allowed to fail we would have put another 300,000 out of work. Not sure this country could really take even more spiraling down into oblivion.

How much longer can taxpayers’ be asked to grab their ankles before they are totally reamed? This is complete b-u-l-l-s-h-i-t. A failed industry supporting failed (obsolete) skill sets. Only in America.

carstuff, 100,000 people are unemployed because the feds wont switch on their water supply for the farms they operated for 100 years. 100k people (about 50k directly and another 50k down the line). As a result, trees which could feed people and take 20 years to develop are dying – right now – while your groceries go up and we most import food to replace it.

This water is switched off for environmentalist idiots and their BS,a nd these crappy DC overlords wont switch it on. 100k jobs in Cal is about the equivalent of 1,000,000 jobs nationally as a % of population. If these crap-bags in DC that some fools around here can simply shìt away that many jobs, then the GMAC and this financial sewer of a sector that is ripping us off can go away too. It’s all BS and all political payoff, but you go right ahead and delude yourself that it is for the good of the country. It’s not.

BTW – those 100k jobs are all in Central Valley, CA. I dont like CA in the least but they should not be denied their livlelihoods for politics.