Post bankruptcy JK deals - Post em here!
05-04-2009, 06:03 AM
#41
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Few of the rumors I've been seeing/hearing today:
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
05-04-2009, 06:15 AM
#42
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If #1 true I need to get a refund on my extended warranty .. if Chrysler even has the money to refund it. I have 30 more days to cancel with a 100% refund.
Few of the rumors I've been seeing/hearing today:
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
05-04-2009, 09:39 AM
#43
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I am skeptical on the re negotiation of the loans on the cars the buyers who actually are making their payments. generally you cannot revise rates up on a contract. Possibly down but i don't see a reason why a company already in the red would make it worse. The amount of Sh#t that would hit the fan from people who have made payments and are now getting screwed would be terrible PR and also bad business for Chrysler. I think just like in other posts if you have a jeep enjoy it if your looking for one try to get your hands on it with out getting screwed on the price but it does not look like their is going to be a surplus of these jeeps laying around in 6-12 months if they cut their production as drastically as they are saying they will.
05-04-2009, 09:58 AM
#44
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Few of the rumors I've been seeing/hearing today:
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
1) The government is going to ammend warranty backing - 3 years max or the term of the original warranty that is left, which ever is less. They are also going to cap warranty service at 2500 a year total.
2) Chrysler financial is going to be sold as a unit within 30 days. It will be in recievership in the iterim with the Government. They are expecting to restructure up to 15% of deliquent loans and re-rate 35% of in good standing loans upwards by as much as 2% in order to make the unit 'profitable' and attractive to a potential buyer.
3) Jeep as an operating unit may be sold off as early as Tuesday to a Chinese buyer who made a healthy offer over the weekend in straight cash.
4) Fiat is demanding as much as 30% of models in all lines be cut immediately and production stopped. Low volume, low profit, specialty, and niche products are the targets for the cuts.
----
With 2 I am not sure wtf that means. Are we gong to see some of our loans go up in rate and thus cost?
With 4, assuming 3 is not true, could really hurt the Jeep brand, maybe even the Wrangler.
05-04-2009, 10:23 AM
#45
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Actually Chrysler Financial is being rolled into GMAC Financial which equates to the same thing with Countrywide being rolled into Bank of America. No changes except who you write your check to is all.
They cannot raise your interest rate due to your contract on the loan you took out, this isn't a tax rate like you see with cigarettes it's a fixed loan you have made an agreement with the finance company in writing, check your contract.
As for Jeep being sold off on it's own, that's a no go at this point. Chrysler has filed for bankruptcy and at the moment it's an all or nothing situation for them. Unfortunately as of this writing the proceedings are being held up due to the last second filing of the motion on Sunday did not leave enough time for concerned parties to read the 300 page motion and make any objections relevant to the proceedings. This whole thing make take longer than the 30 to 60 days originally expected at this rate.
They cannot raise your interest rate due to your contract on the loan you took out, this isn't a tax rate like you see with cigarettes it's a fixed loan you have made an agreement with the finance company in writing, check your contract.
As for Jeep being sold off on it's own, that's a no go at this point. Chrysler has filed for bankruptcy and at the moment it's an all or nothing situation for them. Unfortunately as of this writing the proceedings are being held up due to the last second filing of the motion on Sunday did not leave enough time for concerned parties to read the 300 page motion and make any objections relevant to the proceedings. This whole thing make take longer than the 30 to 60 days originally expected at this rate.
05-04-2009, 02:21 PM
#47
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NUMBER 2 is right. Who comes up with this CRAP? Maybe the OP rolled his car loan into the crazy ass ARM on his house. (no real disrespect intended) but c'mon man.
05-04-2009, 04:29 PM
#48
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By way of example, if I pay the government $950 for a car loan with a 6% interest rate and $1000 left to pay on the balance over 1 year and the borrower (you, me, anybody who borrowed to buy their car) pays it as agreed, I will make $110 of profit (the $50 difference between what I paid for the loan, $950, and the outstanding balance, $1000, PLUS $60 of interest earned from the borrower for one year at 6% on the remaining $1000 balance). In other words, I made $110 on a $950 investment which translates into an 11.57% return (or, if you will, I essentially earned an 11.57% interest rate). This is basically what will happen.
Nobody with a loan in good standing has anything to worry about...so long as they keep making their payments.
DISCLAIMER: My example is oversimplfied since I don't want to get into the complexities, but it gives you the idea.
Last edited by kafka1983; 05-04-2009 at 04:34 PM.
05-05-2009, 12:08 AM
#49
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If I didn't have a relative who could get me EPP I would definitely consider this the time. Supposedly there are new incentives coming out tomorow...but more in the form of dealer cash instead of customer cash...so more subtle negotiations vs standard EPP discounts