• If you currently own, previously owned or want to own an Avalanche, we welcome you to become a member today. Membership is FREE, register now!

Pretty Soon GM Will Pay People To Take New Cars!


SM 2003
Full Member
Aug 11, 2002
GM to offer no down payment - Most vehicles qualify for latest salvo in incentives war

DETROIT, Oct. 10 ? Firing another shot in the U.S. auto industry?s price war, General Motors Corp. said Thursday it will allow consumers to buy most GM vehicles with no down payment and no payments at all for 90 days.
?WE JUST THINK it?s time to break out and do something different,? Kurt Ritter, general manager of GM?s Chevrolet division, told Reuters outside a GM dealer meeting.
The deals announced on Thursday include all 2002 and most 2003 model vehicles excluding GM?s Saab and Hummer brands.
GM, the world?s largest automaker, has used aggressive incentives, mainly interest-free loans and cash rebates, to keep U.S. consumers buying new cars and trucks. But GM was one of a few automakers to report a sales decline for September, saying low inventories of some models was partly to blame.
No. 2 automaker Ford Motor Co. did not immediately return calls seeking comment about whether it would match GM?s latest incentives.
Ford, which has often matched GM?s moves blow-for-blow, last month offered a three-month payment deferral plan on its 2002 models. Such plans are common among furniture and home electronics stores but have been rarely used in the auto industry until now.
In a market where incentives have been averaging $3,000 per vehicle, some data suggest GM?s offers may not be all that costly. Morgan Stanley analyst Stephen Girsky said in a research note earlier this week that the average cash payment for a new car deal had fallen to $1,013 in August, compared with $1,800 a year ago.
GM officials said in addition to the payment plan, GM would also continue offers of zero-percent loans with terms up to five years on most 2002 models, and would offer a narrower range of zero percent loans on 2003 models.
Advertising for the new deals was scheduled to appear Friday.
When you can good Credit Union financing anyway that's not much incentive. I want the rebate back! No rebate. no '02 Av.
They're really messing up the used car market. I saw a special on CNN the other day detailing the price differences certain models of used cars used to be sold for comapred to what they're being sold for today. There was around a 15% drop in value for all manufacturers.
Well if GM would let me get interest free and defer payment for 90 days, then I'm in! ?:eek:

But something about my mods may make them think that the vehicle would be devalued. ?:rolleyes: Sheeze
Personally I want to start paying off my vehicle as soon as I own it. The sooner it's paid off the better. I always like to have a positive cash flow situation when owning a vehicle. Once I owed more on a car than it was worth. I will never do that again!
Well I purchased my 02 AV right after GM announced the $2,002.00 rebate. I purchased an AV that I had looked at earlier so I knew the sticker had not changed after GM announced the rebate. I say this because I read in an automotive professional magazine that GM, as do all of the major makers, raised sticker prices to cover announced rebates. The article also indicated that dealerships have the ability to reprint window stickers and have been known to increase base pricing of in stock models to match manufacturer increases. You know the old saying: nothing is free!
I'll volunteer to be the test monkey for any new vehicles.....just sign and drive....btw this isn't costing me anything right?... ;D :B:
This is not a big deal. I got the no money down, no trade in or nothing last year on my Av. If you have good credit this is not a problem. The only bad part is that I owe more than what it is worth at this point. I looked at trading for a 03 and I am $4K upside down. Will have to wait till next couple of year before I get back even.
I sure as heck wouldn't mind them throwing me the SSR for a limited time...I wouldn't mind one bit being the product tester for that ride.....maybe I can pull some strings....doubt it.. :( :B:
It's amazing the different $$$s dealers offer. We had been working with a seemingly honest crew but shopped the dollars because the trade-in they offered on an immaculate '99 Vette, both tops, 6-speed, Z-51 suspension, 17k miles was loooooow. On a lark, we stopped by a local dealer who blew them out of the water - by $5Gs!! We didn't even both shopping it after that and I am now the happy owner of a dark-gray metallic behemoth. One of my work stable mates has suggested I mount a Howitzer to complete the picture. >:D
The Howitzer would be a nice touch..just make sure you have the proper paperwork in the event you get pulled over my a the police...they can be really finicky about that kind of thing.... :B:

BTW...Welcome aboard!!.. :)