Six years ago I bought a new car for the first time in my life. I bought it the American way -- on time. I didn't feel I could afford a full up-front payment on my paycheck at the time, but I figured I could afford $300/month, which included 60,000 miles of "bumper-to-bumper" maintenance.
It's been a pretty good deal.
But yesterday the car company sent me a letter that confirms this brand is being discontinued.
The name of the company?
Saturn, a former part of GM.
That's America, circa 2009. In a nutshell. My youngest son saw the letter and asked me what it meant tonight.
As I was explaining it to him, he asked me what I was going to do. Financially (without a job for nine months now), the option to buy another car is not there for us. We are ponying up some $800/month just to get health coverage for the kids and me.
At least next month is the final installment of that $300 auto payment.
Money. Some people have more of it than they know what to do with. Most of us have been cutting corners for so long we wouldn't know the next corner if it flashed us from our odometer.
GMAC, the financial arm of GM has already been bailed out by the Feds and is asking for more help. I don't think they should get it.
Plus I know this much: They are not in the red because of my loan. I've repaid every installment, over all 71 months since they kicked in.
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