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GM to offer 6 year no interest financing

GM hummerIf you have looked at the GM stock lately then you will not be surprised why the company is announcing this new marketing campaign. Declining truck sales have been hurting GM badly and this is their latest attempt to lure customers into clearing some of the truck inventory before the company closes down those money losing plants for good.

Below are some details on the promotion which starts tomorrow, but don’t expect to find me at the GM dealership because I plan to squeeze at least another 100K from my Honda.

The carmaker will offer 0% financing for loans as long as six years on most of its 2008 models. Vehicles included in the program range from large SUVs such as the Chevrolet Suburban to small two-seat sports cars like the Pontiac Solstice.

The promotional program - which will only be available from Tuesday through next Monday, June 30 - will be called the “72-hour sale,” the company said.

“We’re really trying to spark the market here at the end of the quarter,” LaNeve said.

Regardless of what my plans are, this could be a good deal if you are looking for a long financing on a new car. The trick might be however is less freedom negotiating the price, I would expect a lot of pressure from the “hungry” sales clerks during the promotion. So do your homework as usual, plan ahead and come prepared.

Source: GM offers 6-year, no interest loans (from CNN Money)




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