The only way GM is even doing what it is doing is Ally financial, GM’s captive finance arm (formerly GMAC) will pretty much finance anyone that will fog a mirror.
It is run exactly like the financing that caused the housing bubble. Over finance collateral and finance folks who have no/poor record of paying back their obligations.
This house of cards will soon fall. I’ve seen it many times over the past 21 years. Usually takes about 2 years. Maybe longer in this case since the Government is backing them.
” Ally financial, GM’s captive finance arm (formerly GMAC) will pretty much finance anyone that will fog a mirror.”
Yep.....even D- paper. The Chinese loaned Ally billions recently. The irony did not escape me : )