"Tell ya what I'm gonna do ta help ya out..."
Posted on 03/17/2020 11:04:54 AM PDT by Red Badger
General Motors is offering loans at no interest to new buyers, plus assistance to current owners, to address COVID-19 pandemic.
General Motors is going to offer zero-interest loans for up to 84 months, in a deal available to customers in top credit tiers.
The manufacturer is also going to work with current owners who owe money for loans or leases so they don't miss a payment during the pandemic.
GM has not yet rolled out a website or contact details for consumers wanting to take advantage of the newly announced program.
The spread of COVID-19 has very quickly disrupted daily life and General Motors is looking to cushion the blow, both for current owners and prospective buyers. The automaker has rolled out zero-interest loans for up to 84 months for customers in top credit tiers. GM said it will also work with current owners feeling financial effects of the pandemic, and one of the options will be delaying payments, a GM spokesperson told C/D. The program covers all GM brands. Other automakers, including Ford, have announced coronavirus-related consumer programs in the past few days as well.
For prospective buyers, the first payment on a new loan can be deferred for up to 120 days. GM will also work with dealers to get them to utilize the automaker's online car purchasing tool, which will allow customers to buy and take delivery of a vehicle at home. For current owners, GM is making several subscription-based services available including in-car Wi-Fi—up to three gigabytes—as well as OnStar Crisis Assist, a service that connects drivers to first responders.
As COVID-19 brings increasing economic uncertainty, automakers are opting to make buying and owning a car easier right now. Other manufacturers, including Ford, Hyundai, Nissan, and Toyota, are all making loan and lease payments adjustable, and some are offering deferred payments for new-vehicle purchases.
What do you think of this assistance plan?
Vote at link................
Predatory lending.
I haven’t bought a GM in decades...do their cars last 84 moths?
Do “we” still own GM after FraudCo ordered the CEO fired?
Gives new meaning to the phrase “moth eaten”.
0% interest to the top tiers is nothing more than their typical ‘sale.’
No, we ‘Lost our Shirts’ when they gave GM to the unions and DNC donors.................
Who wants an 84 month car loan. What happened to the 3-4 year loan.
Interesting. Too bad they make a crappy product.
....and one day.......................
Doesn’t GM have that looney female CEO that is pushing the goal to be 100% electric? I would love to have a Corvette but other then that, no thanks.
“General Motors is going to offer zero-interest loans for up to 84 months, in a deal available to customers in top credit tiers. “
Not the most likely buyers who NEED the help.
gm sucks
Yeaahhh... no more GM cars for me. I used to think annual breakage of major components and bi-annual head gasket replacements was normal.
Wouldn’t it make more sense to LOWER THE PRICES OF THE CARS?.................
After the way the companies and dealers have treated us for the last couple of generations? LOL!
"Tell ya what I'm gonna do ta help ya out..."
7years is a long time to be making payments on a car.
0% is a good deal just the same. The trouble is you’re upside down for longer on a loan of 7 years.
0% interest to the top tiers is nothing more than their typical ‘sale.’
Car dealers are all crooked. Yep typical sale.
Bought the wifes GMC 2500 with zero percent a few years back. Typical car dealer tactics.
Dealers like financing because they make money off the loan from the finance company. I was later told we could have got the truck cheaper if we financed. Should have financed it and paid it off with the first payment.
Negative Interest loans by 15 April.
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