GM Used Car Incentives scrapped - DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat
LinkBack Thread Tools Rate Thread Display Modes
post #1 of 2 (permalink) Old 11-05-2008, 01:25 PM Thread Starter

Join Date: Oct 2008
Posts: 336
Feedback: 0 / 0%
Post GM Used Car Incentives scrapped

General Motors hand in hand with GMAC has announced that they have come to the end of the line of their used vehicle incentive program. As of November 3rd the program will be null and void.

Under the program, selected models of GM received 3.9% interest loan terms for up to 60 months. The 4.9% incentive for higher end vehicles such as the GMC Yukon, Yukon XL, Envoy, Chevrolet TrailBlazer, Tahoe and Suburban were also scrapped.

GM claims it has had troubles raising capital in the past couple of months and was losing money on the program. Dealers are furious as the used car department provided much needed margins to their already failing new car sales departments.

GMAC also announced that it was scaling back it’s lending practices in Europe, while put a stop to lending in 7 European nations altogether. Last month, GMAC has announced that it will not be lending to individuals with a credit score less then 700, roughly 40% of all applicants.

GMAC is partially owned by Cerberus Capital and part by General Motors. Both of which have become under fire recently as the automotive sector sunk to new lows in terms of sales.

Auto Reporter is offline  
Sponsored Links
post #2 of 2 (permalink) Old 11-05-2008, 06:48 PM
Intrepid Pro
Join Date: Aug 2001
Location: Hugo . Minnesota
Posts: 3,207
Feedback: 0 / 0%
More like 50%+ of all applicants. They just cut in half all their car sales. Next month GM sales will be over 50% down than last year.
SPOOK R/T is offline  
Sponsored Links

Quick Reply

Register Now

In order to be able to post messages on the DodgeIntrepid.Net Forums - Dodge Intrepid, Concorde, 300m and Eagle Vision chat forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.

Member names may only be composed of alpha-numeric characters. (A-Z and 0-9)

!!ATTENTION ADVERTISERS!! If you intend on advertising anything on this forum, whatsoever, you are required to first contact us here . Additionaly, we do NOT allow BUSINESS NAMES unless you are an Authorized Vendor. If you own a business, and want to do sales on this site via posting or private message, you will need to follow the rules. Shops, Stores, Distributors, Group Buys without being authorized will see your account terminated.

User Name:
Please enter a password for your user account. Note that passwords are case-sensitive.


Confirm Password:
Email Address
Please enter a valid email address for yourself.

Email Address:


Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page
Display Modes Rate This Thread
Linear Mode Linear Mode
Rate This Thread:

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are On

For the best viewing experience please update your browser to Google Chrome