And the answer is…$13 Billion Dollars

Well, it’s official.  The government is going to support GM and Chrysler with a $13 Billion Plus bail-out package.  A collective sigh of relief from the car-makers, the dealers (the ones that are left), tire manufacturers, parts manufacturers and on and on.   I bought a car last year, before everything came tumbling down.  I’m wondering what this readership of mostly Boomers and 50 plussers are planning.  It’s tough to make ends meet…so if you had a car purchase in mind for this year, just wondering what you were thinking about the car industry and its challenges?

3 thoughts on “And the answer is…$13 Billion Dollars

  1. I think that extreme recycling is in order. If its not completely worn out and can be fixed (reasonably) then fix it. The auto industry will be in deeper trouble next year because people have to really think about what they can really afford. Buying a new car was never an “investment” except for being able to get from point a to point b. Lots of people will not be able to afford anything new so point a to point b will be all that matters. Who really cares that its the newest model complete with the kitchen sink so you can go down the street washing your hands? Sorry for the bad humor but its hard not be sarcastic at this point. Where is my “ONSTAR”anyway?

    1. Lamar, points well made. The used/recycling industry will actually do well in the next few years — from shoemakers who will re-heel shoes, to used car dealers. Money is definitely scarce. I’m hearing from SO many who have been laid off, or if still employed barely hanging onto jobs. (But I do have to say that when I bought my car, with the OnStar included, I became an instant fan! Fortunately I was able to get a brand new, one year old model for a very good price and 0% financing…dealerships are definitely having problems now. In LA, having or not having a car is not an option for most.)

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