Consumer Car Buying Advice Blog

General Motors announces a new certified used car incentive program through GMAC on vehicles from Chevrolet Pontiac Buick and GMC.

Hang on, here we go again

Here at Auto Credit Express Car Loans, we think that it must be driving the marketing guys at General Motors nuts. By that, we mean that working with GMAC right now must seem like taking a trip to Cedar Point and jumping on the Wicked Twister roller coaster. We’re up, we’re down, we’re in, and we’re out and hang on, because we don’t know when the ride will end.

You’ll recall that last October first, GM announced an incentivized rate program for certain models that was supposed to continue through the fifth of January. GM dealers immediately stocked up on the right vehicles and then – wham – GMAC runs out of money and the General is forced to scrap the program in early November. That, as they say at GMAC, was then.

Once more into the breach

Since that time, GMAC, of which GM owns a 49% interest, has become a bank holding company courtesy of the Federal Reserve and has received a $6 billion infusion of cash courtesy of the U.S. Treasury. Katy bar the door, here we go again!

New Incentivized Rates

GM’s latest and greatest program now covers five different GM Certified Used Vehicles and is offered in two tiers at two different rates and is effective from January 6 through March 31 of this year.

The first tier includes GM Certified Used copies of the 2004-2009 models of the Pontiac G6, the Chevrolet Impala and Cobalt. Under this plan, qualified customers can receive 2.9% APR financing for terms of up to 36 months.

If you need more time or a lower payment, GMAC is also offering qualified buyers a 4.9% APR rate for terms up to 60 months on 2004-2009 models of the aforementioned G6, Impala and Cobalt, plus the Chevy Trailblazer, Buick Lacrosse and GMC Envoy.

Here’s what GM had to say: “Shoppers now can receive these attractive finance rates on several of our most popular GM Certified models,” said Paul Pejza, manager, GM Certified Used Vehicles. “They also receive the peace of mind that comes with a bumper-to-bumper limited warranty for 12 months or 12,000 miles, whichever comes first, now standard on every GM Certified Used Vehicle.”

Here’s what we have to say: “Hang on, Paul, the ride’s not over yet!”

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