In a highly unprecedented move, General Motors has announced that it will be prematurely ending one of its certified pre-owned financing programs. General Motors cited the poor credit market as its reason for ending the program early.
The program – which offered 3.9 percent financing for 60 months on used Chevrolet Impala s and Silverados, GMC Sierras and Pontiac G6s – kicked off on October 1st and was slated to run through January 5th, but will now come to an end on November 3rd.
“It’s a tough situation for everybody,” GM spokesman John McDonald told Automotive News. “It really shows how pervasive the impact is for this credit crisis. If there’s no money to do this stuff, there’s no money to do this stuff.”
GM is scheduled to kick off another certified used-car incentive program on November 4th, but the status of that program remains up in the air.
