If at first you don't bring down the Economy, try again?
Lets keep giving money to people, who we still know, will never be able to pay it back. unreal.
Apr 02, 2009 04:30 AM
GMAC Financial Services says it will lower vehicle financing costs and resume making loans to subprime borrowers, part of a series of moves that could stimulate sales at General Motors Corp.
The finance company said yesterday the moves are expected to make at least $5 billion (U.S.) of credit available to customers over the next 60 days. GMAC also eased a variety of fees and payments imposed on dealers, giving them more breathing room to lower both costs and inventory of unsold vehicles.
The moves come as GM races to craft a restructuring plan acceptable to the U.S. government as a condition for obtaining more taxpayer funds. On Tuesday, new GM CEO Fritz Henderson said the automaker could go bankrupt by June 1 if it cannot devise such a plan.
GMAC also said it will cut borrowing costs for some new and used vehicle purchases.
Lets keep giving money to people, who we still know, will never be able to pay it back. unreal.
Apr 02, 2009 04:30 AM
GMAC Financial Services says it will lower vehicle financing costs and resume making loans to subprime borrowers, part of a series of moves that could stimulate sales at General Motors Corp.
The finance company said yesterday the moves are expected to make at least $5 billion (U.S.) of credit available to customers over the next 60 days. GMAC also eased a variety of fees and payments imposed on dealers, giving them more breathing room to lower both costs and inventory of unsold vehicles.
The moves come as GM races to craft a restructuring plan acceptable to the U.S. government as a condition for obtaining more taxpayer funds. On Tuesday, new GM CEO Fritz Henderson said the automaker could go bankrupt by June 1 if it cannot devise such a plan.
GMAC also said it will cut borrowing costs for some new and used vehicle purchases.
