The summer sales drive has begun and General Motors has made the first move. As we reported last week, GM has confirmed that beginning June 29th and lasting only for 72 hours, it will offer 0% financing on most of its vehicles for up to six years, which also happens to be 72 months.
Most Chevy, GMC, Saturn, Pontiac and Buick models will receive six-year long interest-free loans, while most Cadillac, HUMMER and Saab models will be limited to five years. Even the new 2007 Chevy Tahoe, Suburban, Avalanche and GMC Yukon will be offered with three-year interest-free loans. The only models excluded are the Chevy Corvette, Pontiac Solstice, Pontiac G6 Convertible, HUMMER H1 and medium duty trucks, according to the Detroit Free Press.
It's true that sales are down at GM and this new financing deal may improve them, but it's interesting to note the offer will only last for six days until July 5th. If it's as successful as last year's employee pricing, then we wouldn't be surprised if this deal or a similar one is continually extended until interest in it wanes.
[Source: GM, The Detroit Free Press via AutoblogGreen]