General Motors Acceptance Corporation (GMAC) cheated me of money

in the early 70s. Since they are owned by General Motors (GM) I have refused to buy any GM products since.

I purchased a used car from a dealership in northern California. The car was financed through GMAC. I was laid off and gave the car back to the dealership as a voluntary repossession. The wholesale value was $1300 and I owed $1100 so I believed I might get some money from the sale of the car under California law.

A year and a half later the dealership attempted to collect nearly $300 for their loss on the sale of the car. I did some digging and found that the dealership owned another dealership and they sold the car to the other dealership for about $800. Then they sold the car from the other dealership for an unknown amount but kept the profit. They cheated me of the profit and attempted to collect more money from me.

There was a class action lawsuit (surprise!). Unfortunately the statute of limitations had expired 6 months earlier for me.

Since I learned of the class action lawsuit I have not purchased a GM product. I have bought 8 new cars since.

This is why I don't give a damn about GM's financial woes.