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Old Jul 20, 2022 | 08:03 PM
  #46  
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Originally Posted by RNM GS3
Ofcourse its the automakers problem.

GM and other automakers have their financing arms provides these “predatory” loans to sell vehicles with 7-8yr terms. Average Joe doesn’t even understand what they are signing, they just look at the monthly payment and not total cost of the car with interest over 8yrs.

Its all a game and plenty of suckers out there - issue is at some point soon there will be huge collapse of these auto loans because there is almost no regulation.

GM is selling a turd for $50k - FWD Suv is a joke. With tax, some options and dealer add ons - you’re paying $60k to drive a FWD Blazer which im sure will have a ton of issues like the Mach E does.

Its Ok though - we only spent $50 Billion to bail out GM before and who knows how much “government investment” is going to fund these EV models. I think another bailout may need to happen soon especially with their clueless CEO.
^^ Good point IMO.
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Old Jul 21, 2022 | 08:17 AM
  #47  
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Originally Posted by RNM GS3
Ofcourse its the automakers problem.

GM and other automakers have their financing arms provides these “predatory” loans to sell vehicles with 7-8yr terms. Average Joe doesn’t even understand what they are signing, they just look at the monthly payment and not total cost of the car with interest over 8yrs.

Its all a game and plenty of suckers out there - issue is at some point soon there will be huge collapse of these auto loans because there is almost no regulation.

GM is selling a turd for $50k - FWD Suv is a joke. With tax, some options and dealer add ons - you’re paying $60k to drive a FWD Blazer which im sure will have a ton of issues like the Mach E does.

Its Ok though - we only spent $50 Billion to bail out GM before and who knows how much “government investment” is going to fund these EV models. I think another bailout may need to happen soon especially with their clueless CEO.
Then why don't you make this same point in the threads of all the other cars with prices that are high compared to your own opinion of what they should be? You don't because you hate GM and thats why we get to listen to this here. The pricing of the Blazer EV makes total sense with the market, the issue of potential auto loan defaults and "predatory lending" in car loans is completely off topic here. Discussion of auto bailouts from 15 years ago is also completely off topic. Manufacturers price their products relative to their market competitors, full stop. If you want regulation of auto loans, then thats something you should take up with your elected representatives not a vehicle manufacturer.

You wont be buying a Blazer EV. We get it lol

Last edited by SW17LS; Jul 21, 2022 at 08:23 AM.
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Old Jul 21, 2022 | 09:11 AM
  #48  
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Originally Posted by SW17LS
Then why don't you make this same point in the threads of all the other cars with prices that are high compared to your own opinion of what they should be? You don't because you hate GM and thats why we get to listen to this here. The pricing of the Blazer EV makes total sense with the market, the issue of potential auto loan defaults and "predatory lending" in car loans is completely off topic here. Discussion of auto bailouts from 15 years ago is also completely off topic. Manufacturers price their products relative to their market competitors, full stop. If you want regulation of auto loans, then thats something you should take up with your elected representatives not a vehicle manufacturer.

You wont be buying a Blazer EV. We get it lol
I was going to ask that question as well. What about those people paying an over $100K premium for the V8 in the Ford Raptor...there will be many buyers in that segment that will default should the economy go south. The monthly payment on a Raptor I'm pretty sure is no joke
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Old Jul 21, 2022 | 03:06 PM
  #49  
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And the market speaks. If the vehicle is overpriced, people won't buy it.
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Old Jul 21, 2022 | 03:13 PM
  #50  
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Originally Posted by RNM GS3
Ofcourse its the automakers problem.

GM and other automakers have their financing arms provides these “predatory” loans to sell vehicles with 7-8yr terms. Average Joe doesn’t even understand what they are signing, they just look at the monthly payment and not total cost of the car with interest over 8yrs.

.
And Toyota and Hyundai don't? THEY DO

Even BMW has a 7 year finance option

Originally Posted by RNM GS3
Average Joe doesn’t even understand what they are signing, they just look at the monthly payment and not total cost of the car with interest over 8yrs.

.
And who's fault is that? Not Chevrolets.

Originally Posted by SW17LS
And the market speaks. If the vehicle is overpriced, people won't buy it.
Chevrolet can command more $$ for many of their products than people think. Average transaction is higher for a Chevy than it is for a Toyota or Honda. Lots of people see Chevy as a step up from Toyota.

Last edited by Toys4RJill; Jul 21, 2022 at 03:19 PM.
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Old Jul 21, 2022 | 04:04 PM
  #51  
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Originally Posted by RNM GS3
Average Joe doesn’t even understand what they are signing, they just look at the monthly payment and not total cost of the car with interest over 8yrs.
Well, Mr. or Ms. Joe isn't necessarily quite as dumb as you think. Yes, it may cost more in interest to finance up to 8 years, but, with today's inflation and everyday cost of living, the higher monthly payments required for a quicker payoff may just not be feasible. People who have families to support, mortgages to pay off, kids in college, and other large bills to pay cannot afford to get in over their heads in vehicle-payments as well. And, of course, grocery prices keep going up seemingly by the hour....especially if one is not using coupons or other discounts.

Last edited by mmarshall; Jul 21, 2022 at 04:17 PM.
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Old Jul 21, 2022 | 04:07 PM
  #52  
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Loans over 72 months are still a very small % of loans also
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Old Jul 21, 2022 | 04:19 PM
  #53  
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Originally Posted by SW17LS
Loans over 72 months are still a very small % of loans also
Plus, many of us here on Car Chat don't keep a vehicle more than 3-5 years. My average is around 4-6, though with some exceptions.
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Old Jul 21, 2022 | 04:36 PM
  #54  
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Originally Posted by SW17LS
Loans over 72 months are still a very small % of loans also
True..but they are offered now. 84 as well 96 now at Chrysler and Hyundai . it is not the manufactures fault they are now offered.
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Old Jul 21, 2022 | 05:21 PM
  #55  
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Originally Posted by LexsCTJill
True..but they are offered now. 84 as well 96 now at Chrysler and Hyundai . it is not the manufactures fault they are now offered.
Financing terms are longer in CA than in the US remember. 84 month financing exists here, but I have never seen 96.
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Old Jul 21, 2022 | 07:07 PM
  #56  
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Originally Posted by RNM GS3
$50k for a FWD GM ****box - are they serious?!
Originally Posted by SW17LS
You wont be buying a Blazer EV. We get it lol
QED... i think we've seen all sides on the pricing discussion.

i assume press won't get to see this for a long time.
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