Posted on 03/23/2020 4:21:18 PM PDT by PJ-Comix
General Motors and Ford Motor are offering new vehicle financing programs to spur sales amid the coronavirus outbreak, which is hurting consumer confidence and slowing dealer showroom traffic.
GM, through its GM Financial arm, is offering 0% financing for seven years – two years more than recent programs – and four months deferred payments for those with A+ credit. People with a lower rating of A1 can qualify for the deferment, however not the 0% financing, the company confirmed Monday.
The new programs come as many expect the COVID-19 pandemic to significantly impact U.S. auto sales. RBC Capital said Monday that it expects U.S. auto sales to fall to 13.5 million vehicles, 20% below last year’s sales, as a result of the coronavirus.
(Excerpt) Read more at cnbc.com ...
Having just purchased a new car last week, I learned that what they ADVERTISE is never what they actually offer.
I don’t care what the financing offer is. Had one of their cars with the ignition problem and was almost killed.
Toyota for me. Never GM.
GM will be bankrupt again in a few years...
Well, we walked out once and we told the guy about this deal so we shall see. But he knows that we will walk if we don't get this deal.
I received letters from my local Chevy, Cadillac and Buick/GMC dealers about this. It is on all remaining 2019’s. And, most 2020’s.
But, it DOES NOT apply to the new C8 mid-engine Corvette or, new Escalades. At least not in my area. The letters from my local dealers that I received specifically excluded both those vehicles. You’d think the two most expensive vehicles GM makes would benefit the most from this.
Amen!
Well, the Equinox is included. Anyway, I am glad we walked out earlier this month because if we had bought it we would have felt STUPID after reading the latest deal.
Too bad their cars suck
Will a GM even last 7 years?
I have ones that are 51, 21, and 17, so I’d say yes.
We are in the market for a new car. Bro-in-law, who is in the business, says wait until March 30.
I’d also think there will be some kind of Cash 4 Clunkers 2.0 coming out to help the economy.
The problem is that you end up with an inferior GM vehicle, with LOTS of parts made in China.
We have a 2015 Trax that works fine. We also had a Chevy Malibu for 15 years.
Good luck and I hope you do! I purchased with cash so a different experience. I’d see the price online and it would easily be 5k BELOW the cash price. Not counting tax and title. I even did gm “point click drive” at dealers and still had to haggle just to get down to that.
Most of the sticker price scam is due to “well qualified lessees” meaning you already have to be leasing a car to get that discount. Also a big discount is if you own a car from that manufacturer 5 years or younger.
So if you see a car “on sale” online for 20k, unless you are leasing or own another car from them it’s 25k.
Go to any gm website with “point click and drive” feature. Select a vehicle and note the advertised sticker price. Now click “point click drive” and choose “pay with cash”.
Exactly. Let me know when Toyota has 0% Financing.
I would consider such an offer on an Escalade. I already own a Z-06 Corvette and will keep it until I die.
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