GM Says It Is Ready To Target Sub Prime Borrowers Again

and the cycle continues...

You MIGHT think they would avoid the situation that got them in trouble to be with!

But just like an addict, they think "I got it under control".

Thats what messed up the real estate market more than them. They were hurt by poor products.

The reality of it is that alot of other car makers cater to subprime buyers in fact while Banks are certainly stricter with terms the reality of it is that in general the average credit score has dropped per the article they are talking about 620 or lower which having worked in the real estate industry they cant mean any less than high 500s to 620. Those people should have an opportunity as its a good time while the economy is getting somewhat better and those people that are that those poor scores due to the failing job market will improve with time. GMs failure had little due to with who they were lending to and ALOT to do with what was going on inside their own company......and their constantly losing market share...but hey judging by the ignorant picture you have up to sum up that score range the truth will be lost on you

I'm sorry, but how is this why gm screwed up? Sub prime borrowers pay exorbitant amounts in interest and any faulty payments are dealt with by collection agencies. You don't blame hyundai for targeting them as well.

GM itself is a subprime borrower, so why not. Actually GM is more like sub-subprime.

as I said in the Chrysler thread, this is good news for car dealers. The real estate crisis is nothing like the crisis in the car market and the car market crash was not due to poor quality either, GM sold cars with subpar build quality for years before the crash and sales were always good. Subprime loans has been a major source of new car sales for EVERY manufacturer for decades and when poor people with poor credit could no longer buy cars they couldn't afford, the car market tanked....

stone i can agree with you on this I to sold cars and seen the credit reports and the tales of how mom needs a car she paid her old debts has a good to descent job but here credit is bad and the autostore down the street could not finance here but if I could she would take the first thing with tires that ran, this is a a new income channel and like Joe stated hyundia is doing it as well along with other banks .