It seems since tough times have hit and the economy is in the shitter, banks tightening up on loans and such, they have made it pretty tough for anyone to buy a new car now or even get a loan.
I remember when almost anyone could get in a new car with a not so good credit rating. The last I had heard, the general rule of thumb is that you have to have a credit rating of 750 or higher to even be considered for an auto loan.
So I guess what I am getting at, is with the hard times and people losing or could be losing their homes , jobs or just people just tightening up.......there won't be that many people buying new cars?
I think the Big 3 drove those businesses into the ground and will probably do the same given the chance again. They knew this was coming along time ago and really did nothing to try and prevent it. When times were good, they had a huge opportunity to sell to a big audience and failed. Now they want a chance to sell again to an audience that may not be there.....
I doubt there is even a chance that they can do anything good at this point. They have produced crap cars for years, their customer service totally sucks and I don?t think they cared about the customer. We lost faith and gave up on American Car Manufactures? many years ago. Now my wife and I drive foreign autos.
If we give them a bailout, maybe a personal guarantee on that loan from each Executive would help some. If they really feel their new scheme will work and they are that confident, then they should show some good faith and put up some collateral. While they are at it, they can liquidate some high ends items they don?t need?..like all those private corporate jets.
One thing for sure, it truly is a sad situation the workers are in.
Just my
