General Motors announced their new plan in order to increase consumer confidence.

1. They are offering equity protection when you trade your car in. The problem is, cars depreciate as soon as you drive them off the lot. They will be losing a lot of money this way, cars are not houses, cars only depreciate in value (unless you have a classic car, which we aren't talking about.)

There site advertises, "There's a reason you've never seen this before. It's never been done before."

There slogan should be, "There's a reason you've never seen this before. It's an idiotic business proposal and any company not funded by the government would never have implemented it."

It's never been done because it's a horrible business decision. You can't make money by giving people the difference when they trade a car in.

2. Payment Protection- They will pay your car note for up to 9 months (up to $500 monthly) if you lose your job. Again, losing your job is a risk you take when you purchase something like a house or car.

We are now shareholders in this company thanks to the Obama administration and they are using it as a socialist pulpit. Who do you think is going to actually be paying for unemployed workers car notes and the difference when they trade their vehicle in? The taxpayer!

Either that, or they will simply go bankrupt, and our "investment" will be entirely lost.
JaggedEdge Reviewed by JaggedEdge on . This is what happens when the government buy's private companies. GM news. General Motors announced their new plan in order to increase consumer confidence. 1. They are offering equity protection when you trade your car in. The problem is, cars depreciate as soon as you drive them off the lot. They will be losing a lot of money this way, cars are not houses, cars only depreciate in value (unless you have a classic car, which we aren't talking about.) There site advertises, "There's a reason you've never seen this before. It's never been done before." There Rating: 5