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0.00% Soon To End


SM 2003
Full Member
Jun 24, 2002
So Calif
FYI to those using the site for research (like I did!) but haven't yet purchased their av....if 0.00% figures into your equation, get off yur duff and head to the dealership before it's too late. And become a CAFCNA member!

GM to End No-Interest Loans Next Month, Dealers Say
2002-08-23 16:31 (New York)

Detroit, Aug. 23 (Bloomberg) -- General Motors Corp. will
drop no-interest loans after clearing out most 2002 cars and
trucks and begin charging rates that start as low as 1.9 percent,
dealers said.

The largest automaker had inventory of about 850,000 vehicles
at the end of July, down 100,000 from the previous year, Paul
Ballew, General Motors' chief market analyst, said in a conference
call earlier this month.
``It makes perfect sense'' to end the program with 2003
models reaching dealer lots, said Dan Poole, vice president of
equity research at National City Corp., which owned 260,344 shares
of the automaker as of June. Zero-percent loans ``can be turned on
and off easily,'' he said.
General Motors, Ford Motor Co. and DaimlerChrysler AG's
Chrysler revived no-interest loans in July to clear showrooms for
new models. The loans also helped build demand as consumer
confidence fell in July by the biggest drop in nine months.
General Motors' sales rose 24 percent in July, and it's the only
U.S. carmaker whose market share is up this year.
The company will offer financing of 1.9 percent for 36-and
48-month loans and 2.9 percent for 60-month loans, said Russ
Shelton, owner of Shelton Pontiac Buick Inc. in Rochester Hills,
Michigan. The new plan starts Sept. 4 and runs through the end of
the year, he said.
General Motors spokesman Brian Akre declined to comment on the
program change, saying the automaker plans an announcement about
incentives early next month. Spokeswoman Elaine Redd declined to
comment about current inventory levels.

Cash Rebates Continue

General Motors led automakers in offering no-interest loans
after the Sept. 11 attacks, spurring demand at the expense of per-
vehicle profit. The company was profitable last year and was
better able to trim its vehicle margin than U.S. rivals Ford and
Chrysler, who had multibillion-dollar losses in 2001. The last
time General Motors stopped zero-percent loans, its sales fell 12
percent in May.
If ending no-interest loans again ``turns out not to be the
right move, you can always go back to it,'' said Christopher
``Kit'' Tennyson, owner of Tennyson Chevrolet Inc. in Livonia,
Michigan. The 2002 models ``are clearing out pretty well.''
Dealers said General Motors' latest incentives would continue
cash rebates of $1,000 to $4,000 as an alternative to low-interest

-0- (BN ) Aug/23/2002 20:31 GMT
You are correct...ladies and gentlemen the fat lady is about to sing..... :B:
there is always the possibility of it being around again, but i wasn't rolling the dice.

bought mine yesterday...