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GM Expecting to Restore 3000 Jobs in 2010

[Sep 22, 2009.]


In a move that signals more good news for the US economy, GM announced plans for restoring approximately 3000 jobs in 2010. The automaker is consolidating production by closing some plants and retooling others, but it will add an estimated 2400 assembly jobs in Indiana, Kansas, and Michigan. 600 additional jobs across the US are predicted for GM suppliers and related facilities. GM will draw from its pool of laid off workers to fill new positions, along with currently employed workers who face layoffs when their plants close.

Combine Dealer Incentives with Best Auto Loan Options

GM and competing automakers may provide financial incentivesto bring customers back to their dealerships; GM estimates sales of about 535,000 units for third quarter 2009, and about 655,000 for the fourth quarter. These figures represent an approximate 20 percent decrease in sales compared to 2008. If you're planning to buy a vehicle this year, shopping for your best auto loan terms  and dealer pricing can help you get the most out of your auto purchase.

Shopping Auto Loans Before Shopping for a Car

Buying a new car is exciting, and it's easy to get carried away at the car dealership. Shopping for auto loans before shopping for your next vehicle can help you:

  • Understand what you can actually afford (as opposed to what you think you can afford) to spend on a car: Don't risk ruining your budget and credit rating.

  • Provide negotiating power: Of course dealers want you to buy a car, and they can provide financing terms that facilitate your purchase. Taking your best quotes for auto loans to the dealership can help in determining if the auto dealership is offering the best deal available.

  • Avoid being a "captive borrower": Too many of us have gone to a dealership, found our dream ride, and automatically assumed (you know what they say about assuming anything) that dealer financing was the best game in town. Not necessarily--you owe it to yourself to get quotes for a few auto loans before making a final decision. 

Vehicle financing is only part of getting your best deal on a new auto purchase; researching makes, models, and comparing them can help you pinpoint the best options within your price range. This can also help you from getting in over your head now and paying for it for the next few years.


About Author:

Peter Andrew has been writing about -- and for -- business for more than two decades. For the last couple of years, he has found himself increasingly specializing in the U.S. financial sector.

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