Ford & General Motors Car Ownership Proposal STINKS!

March 31-2009:

Ford & General Motors Car Ownership Proposal STINKS!

Like Hondai, General motors and Ford motor companies want to introduce a new deal with potential car buyers, for the acquisition of a new car, with some guarantees.

Here is the deal:

GM and FORD intends to offer any customer who is employed, or does not envisage being dismissed from his/her employ currently. To be able to get a new car, and will continue to use it even if he or she becomes un-employed some time after this purchase.

This car owner will be able to pay premiums for that vehicle for up to nine months, and GM and FORD will pay the premiums afterwards, if that car owner gets dismissed from his/her job.

But what is not fully explained or clarified are the following:

* Suppose the dismissed car owner finds another job after the nine month period, but his/her wages are small or is not comparable to the wage he/she earned in the previous job?

* Then how will he/she resume the car payments, if his/her wages can barely provide for the basic essentials for livelihood?

* Or if the dismissed car owner finds employment that is temporary, then how is he/she going to continue the payments under that uncertainty, and will GM and FORD, fill in once again if he or she gets dismissed once again?

CONCLUSION:

As far as I see, GM and FORD are trying to cajole potential car buyers to get involve in some transaction with them, that may very well end up sour for those car owners, in this uncertain economic climate. 

As I see it, no one knows when this economy will reach rock bottom, or even if it starts to recover again, how many thousands are already un-employed, and no one knows how fast, how many, or what type of jobs will be available for the reservoir of un-employed masses.

And getting into any kind of car or home ownership program, like the ones above mentioned, will be taking another RISK that no rational person should even consider, much less engage in!

Derryck.
NYC.