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 Impalas 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.
10/31, 8:18 PM
posted by:
johnnycanuck
Great. The menstral cycle of used car sales.
10/31, 9:29 PM
posted by:
Borat
Goes hand-in-hand with GM not having credit arm GMAC. Nothing new here, was about to happen. You cant borrow at 5% and give credit at 3.9%.
11/01, 12:56 AM
posted by:
howsmydriving
Just when I’m in reach of a dreamy certified pre-owned Aveo, they pull the plug….
11/01, 2:45 AM
posted by:
crackerhemi
Who wants a crappy used GM when they don’t even want a new one. This makes perfect sense canceling this program. You need to rob anyone dumb enough to buy a used GM and not give them incentives.
11/01, 9:41 AM
posted by:
Payton Byrd
Who wants to read a crappy old crackerhemi comment when they don’t want a new one?
11/01, 9:52 AM
posted by:
mayer_ray_nagin
Hahah. GM is going to buy Chrysler and cancel that POS Challenger. All the retards who aspire to that POS will be flushed.
11/01, 11:01 AM
posted by:
Mike the loser
Ray Nagin……..Challenger will become a collectible.
11/01, 11:19 AM
posted by:
mayer_ray_nagin
Mike, that’s what my brother said about his 50th anniversary corvette that proceeded to drop like a rock.
You can virtually never predict what will become a collectible from today’s slew of boring designs. An 09 Challenger will more likely be seen a a retro-POS in the future and a testimony to lack of design creativity and evolution, where marketers tried to grab a modern-day new-car share of the classic used-car market. Gonna be more like “Dude, you have an 09 Challenger? Why? Can’t afford the original?”
The 09 Challenger will be more viewed like a kit car than a classic.
11/02, 6:22 PM
posted by:
BAYERNSCHNEE
How did this thread gofrom cost of credit to uncollectible chryslers?