Seems Chrysler has decided to put the bailout dollars it got to immediate use:
With $1.5 billion in federal loan money on the way, Chrysler LLC rolled out an array of financing options including 0 percent to lure customers back into dealerships.
Chrysler is offering 0 percent financing for up to 60 months on many 2009 and 2008 models effective tomorrow.
“We can now buy credit and get customers in the 620 [credit score] range, which dramatically opens the footprint of customers who can buy from our dealers,” said Jim Press, Chrysler co-president, in a conference call with reporters this afternoon.
This whole thing looks like something out of a socialist economic gameplan. The government takes tax-payer money, gives it to a company, the company then uses it to give interest free loans to the general public. I mean, am I the only one who thinks this is insane?
If this is the best use Chrysler can find for the tax-payer money they got from Bush and Congress, then they deserve to be out of business.
By using tax-payer dollars to offer 0% financing, Chrysler (and Uncle Sam) are putting Chrysler’s competitors at a disadvantage. Every $ made by Chrysler is a $ lost by the other car companies. Every dollar lost by car companies brings them closer to being out of business. How hard is that to understand?
But then again, this is hardly surprising or is it? I mean we are at a point where our own government wants an acknowledged Tax Cheat to head the Treasury Department…
