Filed under: Car Buying, Etc., Marketing/Advertising, GM
GM: Take our cars please! - 0% financing extended until 7/07
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This Independence Day might be the time for waving the red, white, and blue, but GM wants to nab some green, too. The automaker is extending its 0-percent financing sale, which it kicked off on June 24th as the "72-hour sale," until July 7th. The extension of the special financing offer allows dealers to capitalize on the increased floor traffic that GM's advertising onslaught generated. The sale and advertising frequency get people in the door, but many car buyers hem and haw, making it tough to close a deal in just a week's time. The extension gives salespeople a reason to ring up prospects and offer them the sweetest deal they can muster on a new General Motors vehicle. While we'd love to get a C6 Corvette for $20,000 off invoice and 0 percent terms on the loan, our blogging income likely supports a Certified Used vehicle instead. On that end, GM is also offering financing between 2.9 and 4.9 percent on a raft of used models like the Impala, Malibu, Envoy, G6, and Lacrosse. These are the most favorable terms you're likely to ever find, until someone starts desperately handing out -1% financing whereupon they pay you to take the car. [Source: Automotive News – sub. req'd]
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Reader Comments (Page 1 of 3)
Beat-it-nerd 2:03PM (7/01/2008)
"Take our Cars Now" is a great song by Saves The Day
http://www.gmaccessoriesstore.com
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DP 2:06PM (7/01/2008)
Don't laugh... that -1% interest might actually come to pass with all the metal that Detroit needs to offload.
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psu48187 2:10PM (7/01/2008)
Aside from Honda and VW, this isn't a Detroit only issue anymore.
Pete 2:26PM (7/01/2008)
Last I checked Honda was offering 0.9% on the Honda Civic from May til now. At least that is the song and dance my local dealer was giving me.
rouse42 5:13PM (7/01/2008)
honda is offering 1.9% for 24-36m and 2.9% for 37-60m on the civic sedan
and 4.99% on the coupe up to 60m
Kaptain75329 5:27PM (7/01/2008)
Naturally, this is only for the cars that practically no one one wants - the old guard compromise penalty boxes from when before GM's turnaround began to kick in.
Try getting this promotion on a product that's actually desirable like the Pontiac G8.
There's no comparison.. I'm not even sure something like a -1% deal would be enough for some of these cars.
Luis 2:07PM (7/01/2008)
I'm curious as to how many cars this will actually sell for GM. I like the idea, but how many will really bite...
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Pete 2:07PM (7/01/2008)
They've had these deals before. The problem right now is people are not in a spending mindset...
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Rick 2:32PM (7/01/2008)
Exactly, great terms, but were in the middle of a recession. No one, especially the middle class, is going to be buying new cars right now.
User 2:30PM (7/01/2008)
That's true. I've noticed that now even $5 items on fast-food restaurant menus seem like they cost a fortune. This attitude combined with inflation is deadly.
Bill P. 2:44PM (7/01/2008)
Rick's no economist. We are not in the middle of a recession, nor the beginning or the end. A recession is two or more consecutive quarters of negative economic growth. (Rick, a quarter means a three-month period.) We haven't had one quarter of negative economic growth in years.
Damn our public school system for not teaching the masses even the slightest bit of economics.
Rick 3:03PM (7/01/2008)
Ah Bill, I am well educated, I'm an engineer. And I don't hold much faith in the 'definition' economists and other business types have conjured up to define a recession. Unemployment is up, mortgages are being foreclosed on, businesses are shutting down, food and fuel prices are up, and most importantly, people are having trouble having ends meet. Welcome to the recession.
skeptic 3:08PM (7/01/2008)
sure, we're NOT in the middle of a recession. No, maybe not technically, but Yes we are. Banks are not lending money - things are not getting built and people are not spending money. My family income went up 3% this year, but my cost of living went up at least 15% based on food and heat alone.
Please dont spew this BS that we are not in a recession - give me a better word for it and I'll use it. until then I am calling it a recession along with the oth 80% of america that actually feels the pinch.
Pete 2:08PM (7/01/2008)
This really is depressing...
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inteller 2:24PM (7/01/2008)
either this blog is a year old, or GM is continuing this offer until July 2107.
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Dan Roth 2:37PM (7/01/2008)
Or, the offer could go till July 7th - i.e. 7(month)/07(day)
inteller 3:15PM (7/01/2008)
strange, everyone I have ever interfaced with lists month and date as 7/7.
Vintage 2:24PM (7/01/2008)
The problem is I wouldn't want any of those cars. At all. I drove a G6 last year, and it was one of the worst 'newer' cars I've ever driven. Horrible car. Poor visibility, stupidly designed interior (pull door shut with the map pocket!? WTF!), rough suspension, ill handling, just total garbage.
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G-Meister 3:07PM (7/01/2008)
put the crack pipe down. While it's no SVX, the G6 is a solid car.
Vintage 3:19PM (7/01/2008)
Try shutting the door.