Just saw this on Fox News-NOT Good for GM

[Kiss My SS]

Originally Posted by myold88

So wrong/lame
I guess that's why their ratings exceed all the other news outlets COMBINED !

[Topher3134]

Originally Posted by meissen

Sorry, let's split hairs. GM no longer owns the majority share of Ally... Better? Geesh.

Not sure how that is splitting hairs. Your wrong no hairs to split. The point is that gm owns a good amount of a company that loans to its customers. plus the GM financial arm. Not sure how that is splitting hairs.

[jd10013]

Originally Posted by Topher3134

gm owns 9.9 percent of ally and the us gov owns 74 percent.

and that's kind of misleading anyway. that 74% the government owns is part of the bail out. when and if they repay it they'll get that share back.

[BowtieBelle]

Originally Posted by jd10013

they may call it something different, but GM most definitely finances it's own vehicles. it was the most expensive part of the bailout.

and why anybody is surprised by this is just beyond me. GM was never expected to repay the money given it. GM is still for the most part a bloated, inefficient, and poorly run company. Giving them 90 billion in taxpayer money, and then giving the unions a massive ownership stake didn't do anything to change that. they, and the taxpayers, would have been much better off if they'd just gone the bankruptcy and reorganization route that any other company has to when there in dire financial straits.

GM doesn't finance the sales of all of their vehicles, or even HALF of them! My dad has a credit score of almost 800 and he doesn't use GM to finance his new truck. He wasn't even given that option by the dealer. My credit score is over 700 and I wasn't given Ally as an option. GM doesn't finance my new car. GM doesn't finance the new GM vehicle of anyone I know who has a new GM vehicle. This is just misinformation. They got away from that side of the game because it's part of what sank them, and while you CAN still get a loan from GM it is no longer common like it once was. I've had a couple of GMAC loans in the past, and again, I was not even given the option to use Ally by my dealer for my Camaro.

[Topher3134]

Originally Posted by jd10013

and that's kind of misleading anyway. that 74% the government owns is part of the bail out. when and if they repay it they'll get that share back.

they haven't repaid it and are looking at bankruptcy again. So that is not misleading.

[meissen]

Oye, I give up... For all of us being owners of GM vehicles, you'd think you guys would have a little more pride in the company...



I was wrong on whether or not GM owned companies that finance to consumers since I forgot about GM Financial, but GM does not directly do the financing, subsidiary companies do. Ally is still a separate company even though GM has 10% ownership in it, if I buy 10% of stock in Apple it doesn't mean I own Apple.

[jd10013]

Originally Posted by Topher3134

they haven't repaid it and are looking at bankruptcy again. So that is not misleading.

it's a bit misleading becuase it's not like another private company or individuals own it and are therefore running it via their majority stake. its more like how your bank holds the deed to your house until you repay the loan.

[jd10013]

Originally Posted by BowtieBelle

GM doesn't finance the sales of all of their vehicles, or even HALF of them! My dad has a credit score of almost 800 and he doesn't use GM to finance his new truck. He wasn't even given that option by the dealer. My credit score is over 700 and I wasn't given Ally as an option. GM doesn't finance my new car. GM doesn't finance the new GM vehicle of anyone I know who has a new GM vehicle. This is just misinformation. They got away from that side of the game because it's part of what sank them, and while you CAN still get a loan from GM it is no longer common like it once was. I've had a couple of GMAC loans in the past, and again, I was not even given the option to use Ally by my dealer for my Camaro.

how many loans they make is irrelevant. that only relevant fact is that they have means by which to do it, are doing so, and are lowering their standards as to who they'll loan to..

[mntgome1]

Three pages and counting over something that FOX put out there..... SMDH.
THATS SCARY.

[Topher3134]

Originally Posted by BowtieBelle

GM doesn't finance the sales of all of their vehicles, or even HALF of them! My dad has a credit score of almost 800 and he doesn't use GM to finance his new truck. He wasn't even given that option by the dealer. My credit score is over 700 and I wasn't given Ally as an option. GM doesn't finance my new car. GM doesn't finance the new GM vehicle of anyone I own who has one. This is just misinformation. They got away from that side of the game because it's part of what sank them, and while you CAN still get a loan from GM it is no longer common like it once was.

Now your dealer may make more from some other company than what ally or gm fin was offering. I can tell you that most of the people I know with a new truck that is dodge or gm are using ally. The only exceptions I know are people who use their own credit unions. I had a 2011 dodge ram and used ally cause it was 0.99 for 48 months. I am not sure how a bank makes money on that but hey whatever.

[daytripper]

I have a hard time believing anyone is so naive and ignorant to actually believe there is any actual nnews to being broadcast at Faux Socalled News . Come on, there have been surveys that showed the simple minded fools who listen to this inane babble were less informed and more misinformed, than people who listened to no news at all . If you find it entertaining , fine, but it is not factual news .
The finance division of GM, GMAC has long been sold . They do not finance there own cars anymore . Do your brain a favor and try switching channels occasionally or even reading . The bad part of this will be that all other sources will be contradictive to Faux .

[Topher3134]

Originally Posted by meissen

Oye, I give up... For all of us being owners of GM vehicles, you'd think you guys would have a little more pride in the company...



I was wrong on whether or not GM owned companies that finance to consumers since I forgot about GM Financial, but GM does not directly do the financing, subsidiary companies do. Ally is still a separate company even though GM has 10% ownership in it, if I buy 10% of stock in Apple it doesn't mean I own Apple.

if you owned 10 percent of apple you would have atleast one seat on the board and voting rights for the company. So I would think yes you would own apple at that point. atleast a giant share worth multpile billions of dollars!

[dwinva]

Hey, at the risk of hijacking this thread....it was 74 degrees this morning so I put the top down and rowed through the gears as I drove to work. Man was it perfect...toggling between listening to Pandora and the dual mode exhaust.

News flash people...it does not matter what your political, economic, or religious beliefs are....you are not going to change anyone else's mind about their beliefs by touting facts or percieved facts on this site. Let's move on to talking about rainbows, or unicorns, or whether an automatic is better than a manual, or whether a V6 is better than a V8.

[BowtieBelle]

Originally Posted by dwinva

Hey, at the risk of hijacking this thread....it was 74 degrees this morning so I put the top down and rowed through the gears as I drove to work. Man was it perfect...toggling between listening to Pandora and the dual mode exhaust.

News flash people...it does not matter what your political, economic, or religious beliefs are....you are not going to change anyone else's mind about their beliefs by touting facts or percieved facts on this site. Let's move on to talking about rainbows, or unicorns, or whether an automatic is better than a manual, or whether a V6 is better than a V8.