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GM offering 0% financing for 7 years, deferred payments amid coronavirus outbreak, + four months deferred payments for those with A+ credit

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GM Financial is offering 0% financing for seven years – two years more than recent programs – and four months deferred payments for those with A+ credit.

The new programs come as many expect the COVID-19 pandemic to significantly impact U.S. auto sales.

General Motors and Ford Motor are offering new vehicle financing programs to spur sales amid the coronavirus outbreak, which is hurting consumer confidence and slowing dealer showroom traffic.

GM, through its GM Financial arm, is offering 0% financing for seven years – two years more than recent programs – and . People with a lower rating of A1 can qualify for the deferment, however not the 0% financing, the company confirmed Monday.

The new programs come as many expect the COVID-19 pandemic to significantly impact U.S. auto sales. RBC Capital said Monday that it expects U.S. auto sales to fall to 13.5 million vehicles, 20% below last year's sales, as a result of the coronavirus.

GM started notifying dealers of its Buick, Cadillac, Chevrolet and GMC vehicles Monday afternoon of the new initiatives. The offers are valid through March 31, according to GM spokesman Jim Cain.

"We wanted to reassure customers that we're here for them and our dealers are here for them," he said Monday. "We've never done this combination before."


https://www.cnbc.com/2020/03/16/g...virus.html
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#2
No what your wanting to ensure is you get people roped into a expensive automobile payment. Your using the virus as a means to pull this stunt.
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#3
prices are going to keep dropping
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Quote from wonkie
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No what your wanting to ensure is you get people roped into a expensive automobile payment. Your using the virus as a means to pull this stunt.
Believe it or not, people still need vehicles and there are going to be continue to be jobs for workers in the field everyday as it is. The fact that this states the offer is only good for people with A+ credit means those folks that choose to do this know exactly what they are walking into as they are responsible credit users. My wife is pregnant with our second child now and if Toyota does this you'd better believe I'm buying a new Sienna.
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#5
Quote from juniperjoe
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Believe it or not, people still need vehicles and there are going to be continue to be jobs for workers in the field everyday as it is. The fact that this states the offer is only good for people with A+ credit means those folks that choose to do this know exactly what they are walking into as they are responsible credit users. My wife is pregnant with our second child now and if Toyota does this you'd better believe I'm buying a new Sienna.
People with A+ credit are more likely (than those with poorer credit) to consider a reliable used car over the shiny new
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#6
wtf is A+ credit
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#7
Raise your hand if you think that shiny new GM vehicle will still be running in 2028 when it's finally paid off.
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#8
Quote from WEVUDO
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prices are going to keep dropping
Exactly !! With government bailout and/or manufacturer sale off, there would be much better deals for vehicles soon. GM and Ford just shutdown production under disguise of Corona but real reason is dropping demand.

I have started getting calls from dealers that I contacted in 2019 to see if I was in market for a new car.
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#9
Quote from sd8384
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Exactly !! With government bailout and/or manufacturer sale off, there would be much better deals for vehicles soon. GM and Ford just shutdown production under disguise of Corona but real reason is dropping demand.

I have started getting calls from dealers that I contacted in 2019 to see if I was in market for a new car.
Ford is shutting down the plants for the time being because there are confirmed cases of Covid-19 among the workers and because the UAW is putting pressure on the big 3 to close down for public safety. I assume GM is in a similar state.
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03-18-2020 at 03:40 PM
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#11
Quote from fredflintdeal
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Raise your hand if you think that shiny new GM vehicle will still be running in 2028 when it's finally paid off.
I'll raise my hand. My 2008 GM car is running great.
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#12
Quote from sd8384
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What else would you say to public? If you look around demand for everything except life essentials are dropping like crazy and car prices would drop soon as well. Car demand was down even before the Corona scare so this just came at worst time for auto industry.. I don't think Ford will survive this !
A pandemic doesn't come at a good time for anybody. Every industry is going to be hurt by this but closing down now to help slow down the spread is the right thing to do. Most companies should have closed down or started shifting workers to work from home models a couple of weeks ago but nobody was taking this seriously. Ford isn't trying to hide anything or lie to the public. Ford has been closing their buildings all week as confirmed Covid-19 cases are reported and they just today decided to send everybody else home for the foreseeable future.

Not everything is a conspiracy....
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Last edited by gassyjoe March 18, 2020 at 03:52 PM.
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#13
Quote from alguien
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wtf is A+ credit
I would assume 780+ if not higher
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#14
Quote from fredflintdeal
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Raise your hand if you think that shiny new GM vehicle will still be running in 2028 when it's finally paid off.
2007 Impala, nearing 200,000 miles, 13 years and still running.
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#15
Quote from fredflintdeal
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Raise your hand if you think that shiny new GM vehicle will still be running in 2028 when it's finally paid off.
Depends on the car. Their trucks and anything using their V8 engines almost assuredly will. Anything using their new 9 speed transverse transmission... maybe not.
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