According to Frank Herbert, fear is the mind killer. Well, it’s certainly a sales killer. And now that Hyundai’s cut through the FUD to rack up some U.S. sales with its CYA buyer protection, we’re witnessing an international outbreak of MSMD (monkey see, monkey do). Stateside, Ford has lost—I mean launched its Advantage Program. GM offers customers Total Confidence (as if). And now, from the Land of Hope and Glory, Autocar reports that Volvo and Honda will pay for British buyers’ wheels for one year should they get the boot. Of course, to qualify, you have to employed first, then buy the car, then become unemployed. Kinda like betting against yourself. Anyway, if it’s a Honda, you need to be on the dole for at least three months before you get your car payment relief. If it’s a Volvo, we’re only talking about the C30, S40 and V50 models. In both cases, future deadbeats have to finance through the cars’ respective in-house lenders. Look for Honda USA to implement the plan here STAT. Meanwhile, why do I get the feeling that all these programs are opening the door to some serious fraud?
Meanwhile, why do I get the feeling that all these programs are opening the door to some serious fraud?
Because some people suck. Somewhere, someone will try and game the rules, no matter the game, the rules or the stake.
Oh, and the European Civic Type-R really ought to have been the next Integra/RSX.
I wonder if AIG is providing insurance on these loans?
…though probably no more than they already game the unemployment system, which is also public money.
So, meh.
@blucon,
If AIG is providing insurance for these loans, then it’s actually the US government providing the “insurance”. The US government (you) own 80% of AIG – virtually total control.
@retartedsparks,
Unemployment insurance is paid for by premiums employers pay. Now sometimes the premiums come up short but theoretically employers pay premiums based on experience (how many people they lay off). We have folks in Washington District of Control that constantly change the length of unemployment compensation. How can you “calculate” the premium when the amount of coverage keeps getting raised? You can’t.
The Bene Gesserit foresee that Chrysler and GM leadership will not pass the Gom Jabbar ‘stress test’.
Excellent cryptic reference, RF!
Why are their Civics so much cooler than ours?
cjdumm: The Bene Gesserit foresee that Chrysler and GM leadership will not pass the Gom Jabbar ’stress test’.
Excellent cryptic reference, RF!
Yes, and obviously Barack Obama is the Kwisatz Haderach.
The Hyundai Assurance program basically lets someone who lost their job within a year of buying a Hyundai return the car and walk away from any difference between the remaining loan amount and the value of the car. If they are careful about how the loans are structured, Hyundai’s risk is small. They assume most people will not want to walk away from their car and most will not be seriously upside down on their loan. Clever incentive.
Great find for the picture! Idiots are everywhere…
So who are the harkonnen? Cerberus?
GM’s program requires you to:
1. Be emplyed for at least 30hrs per week for 90 days after purchase or lease. Oh, and by anyone other than GM.
3. Finance through GMAC.
2. Provide proof from your local unemployment office that you are indeed jobless and entitled to bennies.
3. Be out of work for 30 days.
4. You get up to $500 from GM for up to 9 payments. Anything over that’s up to you.
5. The coverage only lasts 21 months.
AKM: So who are the harkonnen? Cerberus?
Baron Vladimir Dick Cheney
Glossu ‘Beast’ Rabban Rick Wagoner
Jim Feyd-Rautha Press
Not a Harkonnen, but don’t forget the planetologist Al Liet-Kynes Gore
Obviously these companies are fed-up with waiting for Gordon Clown and his (mis)government to ante up for an incentive program like Germany, France etc and are trying to do something to stimulate sales.
Back to the subtext, where does the spice come from, the Finance arms of car companies? And if they do find a scammer do they get rendered down for their water or left for the worms?
Dave: GM’s Payment Protection program is insured by cynoSure Financial, Inc.(?). Don’t ask what that is, I have no earthly. I just know that’s what’s listed on the info brochures that were passed around. The Value Protection is covered by ServicePlan, Inc. – another entity I’m unfamiliar with.
Hold on a second. The European Civic might have triangular exhaust and weird vents and stuff, but so far I haven’t seen one, NOT EVEN ONE owner who is younger than 60.
If you don’t trust me, just check out the car in the picture above. Notice anything suspicious? Yes, it’s poorly parked in a disabled zone! Obviously the guy in the picture is just posing next to the car while the real owner is trying out a new walking stick.
Besides, from what I understand the new Type-R isn’t half as good as the old Type-R so it’s not like you Americans are missing anything (except being taken for a senior citizen while driving).
It’s a shame, because it’s a cool looking car. However, I wouldn’t even recommend it to my mother.
“Why are their Civics so much cooler than ours?”
Because it has to be cooler than their Focuses and Astras and A3s and Golfs and 116s and Clios and 207s and C4s and Grande Puntos and Mitos and on and on…
Why are their Civics so much cooler than ours?
Their Civic might be cooler in the looks department, but the euro Type-R is the same mechanicals as our Civic Si. Except the Type R does without the LSD. And fully independent rear suspension(it has a beam axle for better cargo space, that is some Type-R level excitement right there)
In this case I think the Brits got screwed this time, but hey at least it is locally made which is big with them.