Comments on: What the GM Bankruptcy Means to Me http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/ Thesis Theme Customizations and Tutorials Fri, 28 Aug 2009 15:36:35 -0400 http://wordpress.org/?v=2.8.4 hourly 1 By: No Debt Plan http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/comment-page-1/#comment-55 No Debt Plan Tue, 02 Jun 2009 23:22:49 +0000 http://www.fouroclockproject.com/?p=244#comment-55 You would need to define what you meant by "the logic of the problem" a bit better, but here's my view nonetheless. If I had to replace my car today I would consider some brands and not others. The brands and vehicles I would consider would likely have competitors that were both above and below them in terms of price. When it comes down to it you could buy a Kia (or a Chevy Cobalt) for a small amount of money. That's a good financial decision, right? Well, yes. In the short term. But when the car falls apart and dies on you right as the warranty expires (okay, maybe a little after that!) then suddenly it doesn't seem like such a great deal. You've got to pay for quality where it counts. You can over-do the quality thing too -- a Honda Accord is a fine vehicle (I drive one), but a Lexus is even better right? Well yes, but there is a line -- something each person needs to define -- where the basis of quality is pretty much the same and the rest is comfort, looks, luxury, etc. If I were brand unconscious (didn't care) and wanted to switch from SUV to efficient car my choice would depend on several factors. One being, hey, how much can I get for my SUV currently? Does it make more sense to drive this thing into the ground even though gas is more expensive? You can run the math, figure out how much extra you would pay in gas versus how much you would pay extra for a smaller car (or what you would lose on the SUV) and figure out what's best. If the smaller car pays off in 3 years then obviously you take that to the bank. If it pays off in 12 years it probably makes more sense to drive the less efficient SUV. Hope that helps. You would need to define what you meant by “the logic of the problem” a bit better, but here’s my view nonetheless.

If I had to replace my car today I would consider some brands and not others. The brands and vehicles I would consider would likely have competitors that were both above and below them in terms of price.

When it comes down to it you could buy a Kia (or a Chevy Cobalt) for a small amount of money. That’s a good financial decision, right?

Well, yes. In the short term. But when the car falls apart and dies on you right as the warranty expires (okay, maybe a little after that!) then suddenly it doesn’t seem like such a great deal.

You’ve got to pay for quality where it counts. You can over-do the quality thing too — a Honda Accord is a fine vehicle (I drive one), but a Lexus is even better right? Well yes, but there is a line — something each person needs to define — where the basis of quality is pretty much the same and the rest is comfort, looks, luxury, etc.

If I were brand unconscious (didn’t care) and wanted to switch from SUV to efficient car my choice would depend on several factors. One being, hey, how much can I get for my SUV currently? Does it make more sense to drive this thing into the ground even though gas is more expensive?

You can run the math, figure out how much extra you would pay in gas versus how much you would pay extra for a smaller car (or what you would lose on the SUV) and figure out what’s best. If the smaller car pays off in 3 years then obviously you take that to the bank. If it pays off in 12 years it probably makes more sense to drive the less efficient SUV.

Hope that helps.

]]> By: R.J. http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/comment-page-1/#comment-54 R.J. Tue, 02 Jun 2009 20:05:33 +0000 http://www.fouroclockproject.com/?p=244#comment-54 Something I've wondered about when I contemplate my own finances is what I will look for when I inevitably have to give up my SUV for a more efficient car. So Kevin, as a PF blogger, do you find that you make decisions about this based solely on the logic of the problem? Or are there some brands that you remain drawn to regardless of how they stack up to the competition? Something I’ve wondered about when I contemplate my own finances is what I will look for when I inevitably have to give up my SUV for a more efficient car. So Kevin, as a PF blogger, do you find that you make decisions about this based solely on the logic of the problem? Or are there some brands that you remain drawn to regardless of how they stack up to the competition?

]]> By: No Debt Plan http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/comment-page-1/#comment-53 No Debt Plan Tue, 02 Jun 2009 18:10:07 +0000 http://www.fouroclockproject.com/?p=244#comment-53 As Hopeful Spirit mentioned comparing a Corolla to a GM SUV is a bit of a stretch to say the least. Compare a Corolla to other GM products like the Pontiac Sunfire, Chevy Malibu, or Chevy Cobalt. All are garbage. (Yes, I've driven them. I used to work for a rental car company.) None come even close to comparing to GM. Take a recent example with my Honda Accord. It's a 2004 that I bought in 2006 from a private party. I recently had my SRS light come on because the driver's side seat belt buckle sensor went out. Shop quoted me $164 to fix it. I took it to the dealership because there was an issue with the radio (all of the LED lights on it went out, looked it up and also a warranty issue). Turns out the sensor was a warranty item -- even though the car is 5 years old and has 78,000 miles. Taken care of. For free. That may sound like a decent warranty, but this is the ONLY problem I've had on the car. I can't say the same for other GM products I've seen or driven myself. This is a representation of GM (and all American cars). You could make the same memories in a Toyota Sienna, 4-Runner, or Honda Pilot. Let's compare apples to apples. :) As Hopeful Spirit mentioned comparing a Corolla to a GM SUV is a bit of a stretch to say the least.

Compare a Corolla to other GM products like the Pontiac Sunfire, Chevy Malibu, or Chevy Cobalt.

All are garbage. (Yes, I’ve driven them. I used to work for a rental car company.) None come even close to comparing to GM.

Take a recent example with my Honda Accord. It’s a 2004 that I bought in 2006 from a private party. I recently had my SRS light come on because the driver’s side seat belt buckle sensor went out. Shop quoted me $164 to fix it. I took it to the dealership because there was an issue with the radio (all of the LED lights on it went out, looked it up and also a warranty issue).

Turns out the sensor was a warranty item — even though the car is 5 years old and has 78,000 miles. Taken care of. For free.

That may sound like a decent warranty, but this is the ONLY problem I’ve had on the car. I can’t say the same for other GM products I’ve seen or driven myself.

This is a representation of GM (and all American cars). You could make the same memories in a Toyota Sienna, 4-Runner, or Honda Pilot. Let’s compare apples to apples. :)

]]> By: R.J. http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/comment-page-1/#comment-48 R.J. Mon, 01 Jun 2009 20:40:13 +0000 http://www.fouroclockproject.com/?p=244#comment-48 Sounds scandalous :) Doesn't the 4-runner have the covered spare wheel on the back? I remember a lady backed into my car with her spare wheel, the dent's still there. But if you say the 4-runner is where it's at I will take your word for it because I cannot argue that years of bad cars from Detroit eroded customer loyalty. And like I mentioned, my attachment to GM is more emotional than logical. I <em>know</em> the cars are subpar but I <em>feel</em> good driving one. Crazy. Thanks for dropping by to comment. And please pick me up if you see me broken down on the side of the road. Sounds scandalous :)
Doesn’t the 4-runner have the covered spare wheel on the back? I remember a lady backed into my car with her spare wheel, the dent’s still there. But if you say the 4-runner is where it’s at I will take your word for it because I cannot argue that years of bad cars from Detroit eroded customer loyalty. And like I mentioned, my attachment to GM is more emotional than logical. I know the cars are subpar but I feel good driving one. Crazy. Thanks for dropping by to comment. And please pick me up if you see me broken down on the side of the road.

]]> By: Hopeful Spirit http://www.fouroclockproject.com/2009/what-the-gm-bankruptcy-means-to-me/comment-page-1/#comment-47 Hopeful Spirit Mon, 01 Jun 2009 20:11:43 +0000 http://www.fouroclockproject.com/?p=244#comment-47 Actually, yeah, you can build those kind of memories in a Toyota. I have. And if you had bought a Toyota 4-Runner, it wouldn't be breaking down at 120,000. You'd have about 130,000 more miles to go before that happened. Which is why GM is in the mess it is now. American cars have been crap for some time. And BK isn't going to fix that, unfortunately. I am currently shopping for my 3rd Toyota. Because I value the money I work so hard to earn. And hate being towed. Actually, yeah, you can build those kind of memories in a Toyota. I have. And if you had bought a Toyota 4-Runner, it wouldn’t be breaking down at 120,000. You’d have about 130,000 more miles to go before that happened. Which is why GM is in the mess it is now. American cars have been crap for some time. And BK isn’t going to fix that, unfortunately. I am currently shopping for my 3rd Toyota. Because I value the money I work so hard to earn. And hate being towed.

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