Would You Buy A Car From A Bankrupt Automaker, Foreign or Domestic?

[Better Believe It]

Poll question: Would You Buy A Car From A Bankrupt Automaker, Foreign or Domestic?

[Edweird]

1. Buying the cars would solve the bankruptcy problem....

[Waiting For Everyman]

2. I'd buy one today if I could get financed at a low rate.

Like millions of other people, I'm blackballed out of the credit market because of past medical bills. It's been that way since 2001. Until that's changed, lots of people can't participate in this economy. There's the problem. Easily fixable for free by passing a law, only it wasn't done.

So... I've been holding on to my '99 Chevy which I bought new and love, and have had no problems with - hoping that it'll hold together a while longer without the maintenance it should have. I'd buy another Chevy in a heartbeat. Wish I could.

[tridim]

3. If it was a good car I'd consider buying it for half-price.

[Better Believe It]

4. I might also consider that.

[Better Believe It]

5. 80% Of Consumers Won't Buy A Car From A Bankrupt Company

80% Of Consumers Won't Buy A Car From A Company That Files Bankruptcy
Jane Hamsher
Posted December 5, 2008

MSNBC analyst Chrystia Freeman: "I think the carmakers are using a lot of scare tactics, trying to play chicken with the politicians. We heard it with Phil Lebeau actually -- 'oh, well no one will buy cars from a company that's in bankruptcy.' I don't think that's proven."

Really?

A recent study from automotive market research firm CNW surveyed 6000 people intending to buy a new car within six months, and discovered that more than 80 percent of them would switch brands if the vehicle they wanted came from an automaker that went bankrupt. Breaking it down by company, Americans were more likely to abandon domestic automakers than foreign ones, with Chrysler faring the worst -- a full 91 percent of buyers wouldn't take home an Auburn Hills product if the company went bankrupt. Ford and GM didn't do much better, with 80 percent of those surveyed saying they would jump ship if things went south.

Freeman went on to say that foreign automakers are doing quite well in the US, actually, it's only the domestic automakers who can't be competitive because of their "legacy costs." In fact, as Marcy Wheeler notes, sales are down across the board -- and Ford's are holding better than those of Toyota, Honda, Nissan, Hyundai, and Kia. In fact, Ford doesn't require a bridge loan, and isn't asking for one -- they may have enough cash to weather the storm, but are requesting a line of credit as a backstop should things get worse. Common sense would inform most people that if this turns out to be the case, foreign automakers will not be immune, either.

http://www.huffingtonpost.com/jane-hamsher/80-of-consumers-wont-buy_b_148695.html

[pitohui]

9. that is hardly a valid conclusion

that is a survey done by automakers to push the automaker's agenda -- "people won't buy from us if we're bankrupt and here's proof so don't let us go bankrupt"

this is not a very strong or convincing argument of anything

people do business w. bankrupt co's all the time w. no problem, and if you want to look at where safety issues are concerned -- you need look no further than the airlines, which year after year fail to make a profit and who routinely go bankrupt

people have no problem flying bankrupt airlines, even those that have gone multiply bankrupt on numerous occasions


no one ever says, "i'll never fly again, that fucker's bankrupt," it's always, "i'll never fly again, they didn't kiss my ass enough" and then, ten minutes later, they're booking the next trip

[Better Believe It]

10. Comparing buying a travel ticket from a bankrupt airline to buying a car is really dumb!

It's the weakest and the poorest analogy I have ever read.

Pay attention now.

When we buy an airline ticket from a bankrupt airline we are not buying a jet plane, just a ticket fly in it.

Did some airline clerk tell you that you had just bought a plane from a bankrupt airline for a few hundred bucks?

They lied to you!

No do you understand the difference between buying an airline ticket and a car?

If you don't, I can't help you.

[Kalyke]

6. Considering we want a Ford Escape Hybrid as soon as

hubby can pay down his crappy foreign car to the point that we're not upside down, then, yes, we would purchase from a bankrupt Ford, if it's actually bankrupt by then.

[supernova]

7. I will never buy a new car again

I will stick to buying low milage 2nd hand vehicles with good resale value.

Right now, I have a Honda 02 CRV. If they go belly up, that means I'll have to find a mechanic who has access to junkers for parts to cannibalize.

[pitohui]

8. i fly on bankrupt airlines so, yeah, what's your point?

i would certainly buy from a bankrupt automaker if i thought i was getting the right deal for me, sure, why wouldn't i?

the financial challenges are not caused by the quality of the cars or by lawsuits because the cars are crashing

they're caused by the economy and by the fact that in other countries health care/pensions come from gov't not from the employer, so our auto companies are not able to compete on a level playing field, their expenses are FAR higher that expenses of their competitors

and even w. all that, year after year, ford usually has the best selling auto in its class, so it seems to me the cars are safe (we're long passed the "pinto" scandal years), the cars are popular, but there is just price resistance such that they can't be sold at a profitable price

we are going to have to eventually leave the 19th century and provide health care/pensions for ALL workers like other countries do -- it would be a shame if we gave up our auto industry while we were dillydallying around pretending we won't need to have universal health care/pension eventually if not sooner...

i wouldn't object to nationalizing the industry, because we can buy the cos. for less than the bailout, being aware tho that we are also buying the liabilities -- this is less important if gov't is going to be providing universal health care anyway in the relatively near term

it is not like halliburton purchasing the asbesto liabilities and then they have to start a war to keep from going bankrupt, these are liabilities that are prob. going to end up being gov't run at some point anyway as a practical matter

too bad we didn't go to universal health care in the 50s and 60s like other civilized nations but that ship has sailed, we have to catch another to catch up

[Better Believe It]

11. Once Again: Buying a airline travel ticket is not the same as buying a car

Comparing buying a travel ticket from a bankrupt airline to buying a car is really dumb!

It's the weakest and the poorest analogy I have ever read.

Pay attention now.

When we buy an airline ticket from a bankrupt airline we are not buying a jet plane, just a ticket fly in it.

Did some airline clerk tell you that you had just bought a plane from a bankrupt airline for a few hundred bucks?

They lied to you!

No do you understand the difference between buying an airline ticket and a car?

If you don't, I can't help you.

[Better Believe It]

12. For the weekend DU crew