• Dec 30, 2008
General Motors is celebrating GMAC's decision to loosen credit restrictions by increasing incentives on many remaining 2008 models. Effective immediately, the General is offering 0 financing available for 60 months. The rock-bottom deals come in addition to cash incentives of up to $4,250. GM is also offering financing as low as 3.9% on select 2009 models, including the well-received Cadillac CTS. Hit the jump to see GM's official list of available financing specials.

[Source: GM]
PRESS RELEASE:

GM Announces Significant New Loan Financing As Low As 0 APR for up to 60 months on select new cars and trucks. The reduced rate financing is available to qualified buyers today through January 5, 2009 on many 2008 and select 2009MY vehicles (see list below). Of note, many of the vehicles listed below have stackable bonus cash and/or dealer cash ranging from $500 to $4,250.

"We're very excited to offer this reduced rate financing through GMAC to encourage our customers to get back into the game," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "This enables even more qualified customers to finance through GMAC at their local GM dealership, and provides additional financing capacity with conventional and reduced rate APRs for our dealers to make sales. With GM's Financing That Fits, and the Red Tag Sale now underway that offers supplier pricing, customers have an opportunity to get a variety of extremely attractive offers through the end of the year."

2008MY vehicles and offers for qualified buyers:

  • 0% APR for up to 60 months on '08 Chevrolet TrailBlazer; GMC Envoy; and Saab 9-3, 9-5, 9-7X
  • 0.9% APR for up to 60 months on '08 Buick Lucerne
  • 1.9% APR for up to 60 months on '08 GMC Yukon and Yukon XL; Chevrolet Tahoe, Suburban and Avalanche; Cadillac CTS, SRX, Escalade, DTS, STS and XLR
  • 2.9% APR for up to 60 months on '08 Buick Lacrosse; HUMMER H2 and H3
  • 3.9% APR for up to 60 months on '08 Chevrolet Equinox, Colorado Ext and Crew cab and Light Duty Silverado; Pontiac Torrent; GMC Canyon Ext and Crew cab, and Light Duty Sierra
  • 4.9% APR for up to 60 months on '08 Saturn Astra and Sky; Pontiac Solstice; Chevrolet Corvette and Heavy Duty Silverado; and Heavy Duty GMC Sierra

2009MY vehicles and offers for qualified buyers:

  • 3.9% APR for up to 60 months on '09 Chevrolet Cobalt; Pontiac G5; and Cadillac CTS
  • 4.9% APR for up to 60 months on '09 Pontiac G6; Chevrolet Malibu, Light Duty Silverado and HHR; Saturn Aura; and Light Duty GMC Sierra
  • 5.9% APR for up to 60 months on '09 Chevrolet Avalanche and Heavy Duty Silverado; and Heavy Duty GMC Sierra


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    • 1 Second Ago
  • 17 Comments
      • 6 Years Ago
      Someone please tell me how GMAC makes money by offering 0% interest on loans? Sure GM gets to move iron and hopefully they will make money in the process. But they'll just be transferring the financial drag from manufacturing to finance. Or dare I suggest that we, the taxpayer, are footing the bill thanks to our recent bailout of GMAC?

      This whole situation is making me queasy...
        • 6 Years Ago
        GMAC was integral to moving the sheet metal and making profits for GM. It would be nice to see GM sell a car on its own merits profitably.

        Coming up next - Employee Pricing!
      • 6 Years Ago
      The blue half-track thing with the portholes? WTF is that? Peter Weller drove one of those at the end of "Naked Lunch".
        • 6 Years Ago
        Damn, sorry about that last post. Old cache stuff or something.

        Anyway, taxpayers, now you're a subprime lender too! GM/GMAC has to pay the Feds 8% on that $5bn. How do they survive making 0% loans?

        And who the hell wants to take on new debt now?
      • 6 Years Ago
      Do they have any MY08 CTS in stock? The dealers I checked three months ago said they were are all sold out.

      I would like to get a CTS but I am also thinking of waiting another year to see what MY10 brings.
      bornfromjets03
      • 6 Years Ago
      why did you put a pic of the OLD 9-3 up there? GM has plenty of boring cars why hate on a problem they already fixed??

      btw the old 9-3 may be boring to look at but its fun to drive!!
        • 6 Years Ago
        @bornfromjets03
        Both the new and old 9-3 look great. I only wish either still had the hatchback.
      • 6 Years Ago
      So basically you get a loan with a longer life expectancy than GM?
      • 6 Years Ago
      @ Samurai Jack & Martin...

      I guess GM figures it can make some money moving the product already made by selling them at fire-sale prices, vs. keeping them on the balance sheets and losing their shirts on the lot depreciation.

      At some point, making a sale is better than not selling anything.

      Besides, Toyota's been running a zero-percent campaign for months. Maybe this is what GM has to do to compete in this environment. Whether or not it will reduce cash burn enough until '09-'10 is up for grabs.
      • 6 Years Ago
      just another gm junk gimmick!!!!
      • 6 Years Ago
      The Saab 9-3 currently pictured is a MY2007 or earlier.
      • 6 Years Ago
      Ya...they still not have a vechile thats worth buying. Other than perhaps the new Malibu and the vette.
        • 6 Years Ago
        Add to that list the Pontiac G8, Chevy Camaro and Cadillac CTS.
      • 6 Years Ago
      It must be just me, but I seem to be sensing a whole new level of sarcasm from the average American auto blogger. What happened to "The President knows best", "Hail to the Chief" and "All for one and free for all". This new found cynicism is very unbecoming of you Americans, you're sounding rather Canadian.
      • 6 Years Ago
      So remind me yet again why we should bail out a company that still has no idea how to make money?

      Must be those enron economics. Pay 8% and sell for 0%. And how much of that will be defaulted on as soon as gas prices rise again?

      WOW, were do I sign up to get some govt money that I can default on just like these idiots will.
        • 6 Years Ago
        That ain't govt. money, it's yours. Well, it is unless you're in the UAW or unemployed, then it's off the money tree.
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