• Jul 1, 2009
2009 Pontiac G8 GXP – Click above for high-res image gallery

General Motors needs to move Pontiacs and pickup trucks, and the bankrupt automaker is once again breaking out some serious incentives to alleviate dealer stocks. The General is offering 0% financing for 72 months for the Vibe, G3, G5, G6 and G8, giving prospective car buyers the chance to get into one of the last Pontiacs ever made. The "72 Hour Sale" oddly begins today and runs through Monday, July 6, which is more than 72 hours – even when excluding the 4th of July weekend.

GM is also using the sales event to move some of its slower-selling vehicles. The Chevrolet Impala, Silverado and Tahoe, as well as the GMC Sierra and Yukon will also have 72 month, 0 financing for 60 months, but they won't be part of the special 72 hour sale.

While we're not planning to run out to the local Pontiac store for a new G3, if you would have told us a year ago that we could get a 361 hp G8 GT for about $400 a month, we'd be pretty stoked. Hit the jump to scan the GM press release.

[Source: General Motors]

PRESS RELEASE:

Buy and Say Goodbye: July Offers Make Getting a New GM Vehicle More Affordable

• Buy: 72-Hour sale offers new 0 percent reduced-rate financing for up to 72 months to well-qualified buyers on select GM vehicles

• Say Goodbye: GM will have twice as many qualifying vehicles under the Federal "Cash for Clunkers" program, once it is finalized, than any other manufacturer

DETROIT – General Motors made two announcements today that will help make buying a new GM vehicle even more affordable this summer. Here are the details:

• GM is announcing its "72-Hour Sale," running from July 1 to July 6, 2009, where low-rate financing of 0 percent for up to 72 months will be offered to well-qualified buyers on select 2009 and 2010 vehicles in dealer stock including Chevrolet Silverado and GMC Sierra regular, extended and crew cab light-duty pickups; Chevrolet Suburban and GMC Yukon XL SUVs; Chevrolet Impala; and the Pontiac models: Vibe, G3, G5, G6 and G8. Although not part of the 72-Hour Sale, many other vehicles will have reduced rate financing of 0 percent for up to 60 months for well-qualified buyers. A full list of current offers, conditions, and eligible vehicles, is available at: http://www.gm.com/shop/currentoffers/

• GM has 74 different models -- twice as many as any other auto manufacturer -- that may qualify under the new Federal CARS (Car Allowance Rebate System) "Cash for Clunkers" program. Customers with older vehicles will soon have a new reason to trade in their "clunker" -- vouchers worth from $3,500 to $4,500 cash from the CARS program. CARS provides incentives for consumers to bring in their out-of-date vehicle to scrap and trade-in on a new, more fuel-efficient model. Once the program begins later this month, all a customer needs to do is bring in a qualifying vehicle for scrap, and trade it in on an eligible new GM model, that offers a significant improvement in fuel economy, and the dealer does the rest. A list of the GM models that may qualify, depending on the EPA estimated combined fuel economy of the vehicle they are trading in, as well as its age and condition, is shown below. Customers should visit the official NHTSA site: http://www.cars.gov, or their local GM dealer for more information.

(GM's Proposed Eligible Vehicles List under the 'Cash for Clunkers' CARS program. Subheadings with numbers i.e. '22 and above' refer to EPA estimated combinedfuel economy ratings. Please note that whether a transaction qualifies for an incentive under CARS depends, among other things, on (1) the type of vehicle the customer is trading in, and (2) the increase in EPA estimated combined fuel economy ratings resulting from the purchase of the new vehicle.)



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  • 29 Comments
      • 5 Years Ago
      72 months? thats a 6 year sale! GM really is desperate!
      • 5 Years Ago
      This looks like any other regular car sale. Nothing really wow-e. Sell vehicles for 40% off, then that will get some excitement(as opposed to building it).
      • 5 Years Ago
      Don't people keep cars about 5-6 years anyway?

      What will be the trade in value after the loan?

      A short term lease sounds better.
        • 5 Years Ago
        Ligor: If your G35 won't brake, you have plenty of reason for a new ride.
        • 5 Years Ago
        to lease a G8 will cost you the same $/month as to buy if for 6yr with 0% interest
        so there is not resaon to lese isnce at the end of your lease you just give it back, whereas with the G8 you can keep for 8 years and it's not that big a deal since the car out-performs and will out-perform 90% of the cars even 8 years from now

        I have an 03 G35 adn the thing just wont brake so I have no reason to get a new ride, but I can tell you even 90% of 2010 cars can't handle as well
        • 5 Years Ago
        Nice one, m.
      • 5 Years Ago
      Maybe they were thinking about actual operating hours at the dealerships. Store hours would be 9a-11p (or 8a-10p) each day for 5 days and closed on July-4. Not everybody will qualify for the great 0% financing, but it seems their dealers are going to commit to staying open late to make sure they can, at least, get some kind of deal going.
      • 5 Years Ago
      I'm really not ready to buy a new truck, but this sounded like a good deal. I went to GMC.com and built a Sierra the way I would want it, after factoring in my GM discount the bill still comes to $458 a month. If I could have gotten the truck I wanted for under $400 a month I would jump on the opportunity. I think I am going to do what I originally planned on doing and saving up more money and buying a Ram next year with a good down payment.
      • 5 Years Ago
      if the dealers are open for only 10 hours/day, it'll run for a week!

      And there's quite a few models that are included in this that aren't on the list (including the Solstice): http://www.gm.com/vehicles/currentoffers/?exist=false

      • 5 Years Ago
      72 month car loan?!?!?! Who signs up for this financial suicide?

      Here's a clue, if the only way you can swing it is with a 72 month car loan plan (zero interest or no) you really cannot afford it. Save up some money and buy something cheaper.
        • 5 Years Ago
        Big Mola... EXACTLY!!!
        • 5 Years Ago
        Exactly - who would want to pay back a loan on a depreciating asset with decreasingly valuable dollars?! Oh wait...
        • 5 Years Ago
        I personally think 72 months is way too long to be financing a car. I think 5 years should be the limit for the normal person.

        I actually borrow at 5 years. However, every two weeks when I get my paycheck, I pay the monthly payment. So I pay 26 months in one year (also lessens the interest paid it's not 0%.) I also make random payments now and then. So I get a 5 year loan, but I still pay it off under half the time. It gives me the luxury of a lower monthly payment and security to know that IF something unforseen happens, I'm a year ahead after one year and my payments are low compared to that 30 month loan.
        • 5 Years Ago
        ?
        Zero % loan is great. I have to cash to buy a G8, but my bank offers 4% APY on its checking account. Hmm . . . Should I pay cash up front, or park it in the interest-bearing, no-risk bank account?
        • 5 Years Ago
        What Jake? Your reasoning explains why not to buy a new car. I agree with that.

        But if somebody does want to buy a new car. If they're not an idiot, they won't consider buying a car until they have the cash to do so.

        So if they have the cash and want the car, why in the world would they pay up front? It is clearly a better strategy to leave most of the money in a safe, interest earning account and take as long as possible to pay it back without incurring interest on the loan.
        • 5 Years Ago
        No, 0% loan is not great. You borrow the new car price + fees, TT&L, whatever. Drive it off the lot and lose 5 -10% immediately, so already your principal on your loan is underwater compared to the asset. You then start a race to the bottom between your loan principal and your vehicle's depreciation, and the principal won't catch up for like 5 years during which you are exposed to the risk of having an upside-down debt and then you still owe a year on a 5yo vehicle with like 75k miles on it.

        Or maybe you compound the stupidity and in a couple of year get tired of you vehicle and trade it in rolling in the upside down note on another car and get into an even worse deal and then do this again and declare personal bankruptsy.

        Meanwhile your cash in the bank isn't even making inflation and this doesn't account for the fact that you are at financial risk the whole time and something may come up, soak up your cash and leave you with an upside down vehicle note.

        It's this kind of thinking that got us into this credit mess. Getting heavily leveraged and not accounting for any risk in the game.

        If this is such a great idea, why not just borrow a million dollars and put it in a CD at 4% or whatever?

        I don't want to be a slave to the bank. If you can't afford something, don't buy it.
      • 5 Years Ago
      If you are buying a new car, please consider donating your old car to charity. You will get a tax deduction and help a charity. Just call 866.448.3487 or go to http://www.cars4charities.org.
        • 5 Years Ago
        Tough sell with the 4G worth of cash for clunkers deal coming up...
      • 5 Years Ago
      That can be a lot of money saved over 6 years. Not a fan of GM but, I wish they would have kept the Solstice/Sky.
      • 5 Years Ago
      72 months, thats a 6-year sale! GM really is desperate!
      • 5 Years Ago
      Think twice before you buy a G8... GM is leaving its liabilities (Pontiac...) in the old GM and the G8 is a low volume niche import, so liability for parts will be on the owner, not GM! Plus, residual value will be zilch, nada, zero and insurance premiums high because parts are going to be rare and very expensive, so total cost is high, not just the purchase price 72-hr deal.
        • 5 Years Ago
        "Under the deal reached by the administration, GM and state attorneys general, the automaker will accept claims arising from defective-vehicle accidents that occur after it emerges from Chapter 11 proceedings. Consumers could file the claims even if their vehicles were made by the "old" GM. However, those with past claims would have to pursue the GM left behind in bankruptcy with nothing but unwanted assets, debts and other liabilities. That means these consumers are likely to recover little, if anything."

        http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802466.html


        • 5 Years Ago
        you kidding

        at $26k for a G8 (not GT) the payment comes out at $361/month with 0 down

        that's tight where an Accord/Camy lease would land you in V6 form and neither of the two would offer up the fun of the G8 and IMO neither is worth having with anything besides the 4-cylinder.

        the G8 would will still outperform either of the two even in their coming itterations so to me the G8 would be the best bargin out there. and for me th GT at $420/month for 6 years woudl be just fine

        • 5 Years Ago
        Greg, you're an idiot. The G8 is a Holden Commodore. It's still being manufactured in Australia, therefore parts will still be readily available.

        Also, who buys cars as INVESTMENTS? ALL cars lose value over time, this is a non-issue.


        And passing up a great car for your "reasons" also is not a good idea. And insurance premiums? They won't change for the reason I stated above (this car is still being manufactured as the Holden Commodore/Chevy Lumina/Buick Regal)


        And finally, GM has publicly stated that they will still continue to support warranty work and claims for ALL Pontiac vehicles at their remaining dealerships.
        • 5 Years Ago
        Doesn't the Commodore hold the dubious record of having the most recalls for an Aussie-made car? I've even heard some people refer to it as a "Recall-odore" lol
        • 5 Years Ago
        Slizzo - You're just what GM is looking for... a Sucker! There's an ole saying in the auto industry: There's an Ass for ervery seat and sure are one!
        • 5 Years Ago
        lol, Matt... no. The Commodore was a brand new platform in 06 and has faced 2 recals iirc as a result of supplier issues... not a bad track record, really
      • 5 Years Ago
      got my 2009 G8 GT two weeks ago for $291 a month, Autoblog :)
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