Would you purchase a car from a bankrupt car company?

[NNN0LHI]

I keep hearing from the Repigs to let them go bankrupt so the auto companies can reorganize. Reorganize meaning let their retirees lose their pensions and medical benefits and become WalMart greeters.

Republicans are playing with fire here. The UAW can put a few thousand angry demonstrators outside these guys offices real quick. I will be one of them.

Don

[tekisui]

1. Telling itsn't it?

They hand the Treasury over to investors and failing banks, but openly call for the failure of the largest union employer in the country.

[baldguy]

8. I'm wondering: did they time the bank "crisis" to occur BEFORE the car mfg "crisis" for that reason?

:tinfoilhat:

[pampango]

28. Perhaps, but the auto executives testified the past two day that the current auto "crisis"

is only caused by the economic "crisis" that preceded it. They repeat that the industry would be fine if it were not for the banking/economic crisis, so you have to wonder if they are not happy to be able to ask for a bailout and blame it on something other than their own incompetence.

[ellenfl]

14. imo, the sole reason the repugs are saying to let the

auto makers fail is to destroy the unions.

ellen fl

[Epiphany4z]

2. would 3 million out of work people

buy cars from anyone?.....just like Iraq once they broke it there is no truly good answer to fixing it. Both choices suck....we should not have to bail them out ..but what is the cost of not bailing them out? Can we afford it?

[tekisui]

5. This IS NOT a bailout. They are specifically asking for a LOAN.

[screembloodymurder]

10. I listened to the hearing yesterday.

When asked how they would repay the loan, no one had an answer. They were asked repeatedly and all talked a good game on why they needed the money, and how our country needs the auto companies, but no one offered collateral. Excuse me, but put up or shut up.

[Hubert Flottz]

16. How does AIG plan to pay us back?

[screembloodymurder]

23. Fool me once ...

:)

[ThomWV]

3. Sure, why not?

I have never taken a vehicle to a dealer for service in my life. There is no American car made in the last 20 years that you can not get parts for - pretty much anywhere in the world. So why would I care if the company that made the car is still in business? Hell, I'd give anything for a '53 Studebaker, or even an Henry J..

[liberal N proud]

4. What they don't seem to understand about letting the automakers fail...

is what the ripple effect will do to the supplier and their suppliers and right down to the guy flipping burgers at McDonald's in the communities where the auto companies and suppliers employ millions of people.

Hope they have lots of soup stored up for the pending soup lines.

[tekisui]

6. In the auto manufacturing towns, each auto-worker job lost,

translates to 8 more lost in the town.

[Greyhound]

18. Look at Flint, MI in 1970 and today for a snapshot of the future. n/t

[glowing]

7. Problem is, I don't have the luxury of buying any cars at the moment.

AND that I would believe is the the true story of cars NOT selling. If you are just getting by, the SUV has devalued to nothing, and your gas just dipped again, right now your doing like I am.. keeping the car until its paid off and then deciding what to do... whether to go into debt with a car payment again.

[screembloodymurder]

9. Do I have a choice?

Probably not: No repair parts, the resale value will be nil, and the dealers (and their mechanics) will move on.

[DainBramaged]

11. I will be alongside of you

[kickysnana]

12. Seen any 1973 AMC's recently? n/t

[elocs]

19. I haven't seen any 1973 anythings recently. n/t

[dysfunctional press]

37. i still see the occasional pacer, gremlin, or javelin...

can't recall the lat time i saw a matador, tho.

[sinkingfeeling]

13. Sure. When a large percentage of corps have been 'bankrupt' and reorganized already. Do you still

fly on airlines based in the US? Are there any airlines that haven't declared bankruptcy?

Delta Air Lines and Northwest Airlines are the two largest airlines still in bankruptcy. But United Airlines, Continental Airlines, America West, US Airways, ATA Airlines, Braniff International, Eastern Airlines, TWA, Hawaiian Airlines and Aloha Airlines have all reorganized under bankruptcy protection at one time or another, and some of these carriers are still operating.

http://www.msnbc.msn.com/id/17858408/

[NNN0LHI]

15. Comparing riding on an airplane to purchasing a 10 or 20 thousand dollar vehicle is funny

It makes me laugh a lot.

In short there is no comparison whatsoever and ridiculous on its face if you give it just a little thought.

Don

[sinkingfeeling]

21. Really? I think I'd rather buy a car for $20K from a bankrupt company than put my life on the line

by flying on a poorly maintained, ancient aircraft.

[screembloodymurder]

24. You must not be married ...

If I bought a car for $20k and couldn't get it repaired, my life would be on the line. Actually, I worry about flying on cash starved airlines too.

[pampango]

35. Not sure why you think that putting down a lot of money for airline tickets often

months in advance of a trip is nothing compared to putting down even more money and driving out with a car.

The bankrupt airlines had to insure confidence in ticket buyers that the airline would still be there on the date of their flight or they would have sold no tickets. The auto companies have to insure confidence that they will still be there to service a car bought today. At least with an car customer you have the car and can get service in other places (many don't have their cars services by dealers anyway).

I still think that a bailout will happen, either now or after Obama becomes president. Unfortunately, I don't think the economy will improve soon enough, the car companies will run through the $25 billion in a few months and they will be back for more.

[dysfunctional press]

25. you don't spend 20K on a plane ticket or use it daily for 10 years...

once you get off the plane, your purchase is history.
you don't have to wonder about the availability of parts and service for the next decade.

[Greyhound]

17. A UAW/US government partnership solves the whole issue. n/t

[lumberjack_jeff]

20. Love my Oldsmobile. n/t

[DainBramaged]

27. No one here got it Jeff

'cept me. :hi:

[donco6]

31. I did. n/t

[Liberal In Texas]

22. When you fork out as much money as a car costs, you are not only buying the car, but the warranty

and assurance down the road (pun intended) that parts and service will be available. I my case, for at least 10 years.

[PVnRT]

26. If it's a good deal, sure

[guitar man]

29. not if it breaks the union

I try very hard not to buy anything made with scab labor.

[zonmoy]

30. I wish I could afford a car. then I wouldnt be stuck all the time in the same city as my family.

[sarcasmo]

32. 25 Billion to Citigroup, zero Billion to the UAW. A Republican must be in charge.

[sarcasmo]

33. If you bought one in the last three months shouldn't you be able to return it at no charge?

[Sanctified]

34. Nope and...

I won't buy one from one that was bailed out and did not change their business practices. If these guys get bailed out but keep trucking down their current path they are just going to be in the same position in 5 years.

[Deep13]

36. No. In fact, I would not buy one from a company in danger of it.

Their quality assurances would be meaningless.