I already mentioned it to another post, but I wonder if help to Big 3 may be provided as a low or zero interest federal loans to Americans to buy one of these three brands.
1. You have to be US citizen or legal permanent resident (verifiable by SSN) and live in US
2. You can buy one vehicle of Ford, GM or Chrysler of your choice
3. Price must be fixed to MSRP+$300-400 for the dealer (Big 3 can force their dealers to do so as part of the deal).
4. The vehicle must be certified made in USA
5. Credit is low or 0% interest with deferred payments.
I'd love that. For a difference I'll get something from my tax dollars even if in a form or credit.
Big 3 will get their money but in a more natural way, also market will tell who of them sucks more and pay appropritely. And the money will also stimulate local economies on the way. Also, haugty j**/Euro-brand lovers won't use it, so it will go to poorer states like MidWest or South where people still have to drive cars from 70s and 60s. That will help them and also ensure that these cars won't flood the market soon afterward -- because those people will really need these cars.
Wednesday, November 26, 2008
Rescuing Big 3 automakers....
Marketwatch, November 24, 2008
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Though this would be a great idea, this would set a certain future expectation, similar to what auto makers did a few years back. They offered employee pricing, buyers rushed in and when price whent back up, sales slid.
I say all 3 of them need to merge
You are right, but the idea is to help them get over the hump. Maybe even use it as a benchmark for the next bailout, if they'll come for one, and not helping the one who came last. That should push them.
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