The CEOs of GM, Chrysler, and Ford were back on Capitol Hill on Thursday, trying to get loans worth $34 billion dollars. The auto bailout question is having an effect on dealerships here in Texoma, but the effects are not necessarily negative. Rashi Vats explains.

Dealerships in our area that sell Chrysler, GM, or Ford vehicles all say that the models they sell are selling at employee rates, and some are even 50% off the retail value.

Holiday Chevrolet owner Matt Johnson says it is the best time to buy, because he says many dealerships are just scared to buy cars right now at auctions, which leaves more inventory and less dealerships buying, creating cheaper deals for consumers.

Johnson says sales have not been affected at his dealership. He says his lot actually just sold 10 cars on Wednesday.

"I am taking a proactive approach and taking advantage of the buys out there for my customers and passing the savings along to them,” Johnson says.

The money for the bailout would come from tax payer dollars. We talked to some Texoma residents to see what they think about that.

“They are going to do what they want to anyway. They are probably going to declare bankruptcy,” Mike Morarec said.

“I don’t think we ought to bail them out. They have had the opportunity to cut back and had the opportunity. The CEOs are being paid millions,” L.B. Kirby said.