close

Privacy guaranteed - Your email is not shared with anyone.

Welcome to Glock Talk

Why should YOU join our Glock forum?

  • Converse with other Glock Enthusiasts
  • Learn about the latest hunting products
  • Becoming a member is FREE and EASY

If you consider yourself a beginner or an avid shooter, the Glock Talk community is your place to discuss self defense, concealed carry, reloading, target shooting, and all things Glock.

GM ramps up risky sub-prime auto loans

Discussion in 'Political Issues' started by Sam Spade, Aug 16, 2012.

  1. Sam Spade

    Sam Spade Lifetime Member

    14,810
    2,133
    May 4, 2003
  2. Guss

    Guss

    3,923
    207
    Jul 1, 2010
    Tampa
    So they are 2.2% above industry average - Is that a big deal? Especially since they had not been experiencing bad results at lower levels. GM Financial is a money-maker, incidentally.

    Now about the new Malibu... They started with an experimental ECO model. Wait until they ramp up the mainstream model.
     

    Last edited: Aug 17, 2012

  3. walt cowan

    walt cowan

    10,752
    1,336
    Feb 18, 2005
    Absurdistan
    barry will just foam the runway with tax payers money....again.
     
  4. callihan_44

    callihan_44 INFIDEL

    5,299
    1,760
    Aug 19, 2010
    Flyover,USA
    hmm, I love SOME GM products but I am highly disappointed in the decisions they have made lately.....doomed to fail with the current leadership IMO
     
  5. Sam Spade

    Sam Spade Lifetime Member

    14,810
    2,133
    May 4, 2003
    No, they're about 33% above industry average.

    6 out of 100 industry loans default. 8 of 100 GM loans default. That's not an increase of 2%, that's an increase of 33%.
     
  6. Brucev

    Brucev

    9,189
    5
    Jul 19, 2009
    Looks like GM is 2% above the industry average. If that is a real problem, the sainted stockholders will decide. The taxpayer has no say.
     
  7. JFrame

    JFrame

    37,902
    5,227
    May 29, 2001
    Mid-Atlantic, US of A
    Who knows -- maybe this is a calculated plan to have a collapse of the automotive industry during President Romney's first term...

    Leftists are nothing if not forward-thinking...


    .
     
  8. aircarver

    aircarver Ride Continues Silver Member

    Yeahhh...

    But I don't see Toyota or Honda going down anytime soon ... So I'm good ! ...:supergrin:

    .
     
  9. JFrame

    JFrame

    37,902
    5,227
    May 29, 2001
    Mid-Atlantic, US of A

    ...And it's good to see you buying American (those Ohio and Kentucky factories turn out good cars! :cool: )...


    .
     
  10. No, it is 2% HIGHER than the industry standard, but 8% IS 33% MORE than 6%


    Outdoor Hub mobile, the outdoor information engine
     
  11. Sorry. This was a redundant post. My bad.



    Outdoor Hub mobile, the outdoor information engine
     
  12. IvanVic

    IvanVic

    5,750
    1,176
    Apr 19, 2012
    I picked up a new Tahoe @ 0% for 72 months, about the best financing you'll ever get on a car. Then again, I have good credit and it was an incentive deal to move the new 2011's before the 2013s hit the lot.
     
  13. JFrame

    JFrame

    37,902
    5,227
    May 29, 2001
    Mid-Atlantic, US of A
    Yeah -- I don't think it's the car buyers with good credit that we're concerned about -- any more than the home owners with good credit brought on the crash of 2007.

    Congrats on your great loan! I'm in the process of refinancing my house at a historically low rate. :cool:


    .
     
  14. Guss

    Guss

    3,923
    207
    Jul 1, 2010
    Tampa
    It's only 2 percentage points on a very big scale.
    GM Finance is a money-maker, incidentally. Doing even better than last year. It's hard to argue with success.
     
  15. Sam Spade

    Sam Spade Lifetime Member

    14,810
    2,133
    May 4, 2003
    How long do you think that success will hold if they continue to increase the proportion of sub-prime loans?
     
  16. Guss

    Guss

    3,923
    207
    Jul 1, 2010
    Tampa
    What's the worse that can happen if they have to repossess 2% of the cars they loaned money on?
     
  17. It's 2 percentage points or 33 percent higher than the industry standard.
     
  18. aircarver

    aircarver Ride Continues Silver Member

    We see a perfect example of 'Democratic math' .....:upeyes:

    .
     
  19. Sam Spade

    Sam Spade Lifetime Member

    14,810
    2,133
    May 4, 2003
    Well, the whole TARP mess was brought on by a 4% default rate with sub-prime loans. And according to the article, GM is increasing the number that they're writing.

    You seem knowledgable---how much bad paper do you think they can carry before trouble rears it's ugly head again?
     
  20. QNman

    QNman resU deretsigeR Silver Member

    9,964
    418
    Oct 5, 2005
    St. Louis, MO
    Repo cars are money losers. That's part of "the worse".