Posted by
Tom L. on Tuesday, March 31, 2009 6:00:00 AM
CEO apparent of GM, Barrack Obama, has said that the Federal government would back up warrantees on all GM and Chrysler cars.
This must mean that Mr. Obama also intends to control the details of those warrantees. Surely, the Obama administration would not let GM and Chrysler offer warrantees without first approving the fine print.
Imagine this: The warrantee on your 2010 GM or Chrysler car not only provides for the standard items, but includes a buy-back at purchase price if you lose your job, or perhaps a guarantee to give you 80% of the purchase price if you trade your 2010 in for a new car within five years. Remember, it is all backed by your tax dollars.
Wonder how Ford, Toyota, etc. would feel about that?