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General Motors Offering 0 Percent Financing, Deferred Payments Amid Coronavirus Pandemic

General Motors is offering a number of discounts and deals to help drive vehicle sales amid the global coronavirus pandemic.

Starting this week, Chevrolet, Buick and GMC will be offering 0 percent interest financing for up to 84 months for “very well qualified” customers on select models. Certain customers will also be able to defer payments for up to 120 days if they are in the top credit tier. These incentives do not apply to Cadillac models, however.

Speaking to Automotive News, GM spokesman Jim Cain said the dealers are intended to demonstrate for customers that we’re there for them.”

“The financing offers are a way to reinvigorate people,” he added.

GM dealerships in the United States and Canada remain open for the time being. Cain said the dealerships are “working day and night,” and know “that they all have to grab the rope and start pulling,” to keep their heads above water amid the pandemic. Certain GM dealers also participate in the automaker’s Shop. Click. Drive. program, allowing customers to purchase a vehicle online without having to leave the comfort of their own home.

GM CEO Mary Barra sent a letter to employees on Monday advising them to work from home if possible, though its manufacturing plants remain up-and-running. The automaker also formed a task force with FCA, Ford and the UAW to help combat COVID-19 at their respective US facilities. The effort is being led by GM CEO Mary Barra, Ford Executive Chairman Bill Ford, Ford President and CEO Jim Hackett, FCA CEO Michael Manley and UAW President Rory Gamble.

GM has taken a number of other measures to help customers amid the pandemic, including offering free OnStar Crisis Assist for all current Chevrolet, Buick, Cadillac and GMC owners.

The UAW called for a two-week shutdown of U.S. auto manufacturing plants Tuesday morning, though GM, Ford and FCA had yet to respond to the request as of this writing.

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Source: Automotive News

Sam loves to write and has a passion for auto racing, karting and performance driving of all types.

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Comments

  1. Man this is going to get a lot worse before it starts getting better.
    A lot of manufactures have closed certain factories down so that means no new pipeline on the way for a little bit. So GM offering this right now is not a good sign of what might be headed our way in the next few months.

    Reply
  2. I’ll pass until GM fixes its crappy interiors and decontenting its vehicles.

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  3. The 0% for 84 is for “very well qualified” customers. Many folks simply are not quite that strong in the credit dept.

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    1. I’m very qualified and my custom-built vehicle has been on the dealer lot for two weeks while I wait for an offer such as this. Only problem, GM isn’t making this offer available on my model. What gives, GM?

      Reply
    2. At full MSRP and and all sorts of hidden fees

      Reply
  4. Wait. The offers will get better, as GM sees that car sales overall are in free fall.

    Reply
  5. I was ready to seriously trade and get a new Tahoe but the deals arent really clear. Apparently after looking into it and contacting the dealership about a Tahoe I’d found they informed me the Chevrolet Tahoe isnt included in the 0% for 84 months deal. Hoping this will change. The tahoes are already way expensive. A lower interest rates would allow more Americans to purchase one and not going in debt to do so.

    Reply
  6. Is Chevrolet offering 0% financing on 2020 3500hd duramax trucks ?

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  7. I’m interested in buying a new Tahoe also looking for the 0% financing

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  8. GMC is offering 0 Percent on the Yukon

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  9. Why is GMC Yukon zero and Tahoe is not

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  10. Another “CONSUMER CON JOB BY GM”. If people would buy new cars and trucks in “CYCLES” GM would have to offer “REAL DEALS” and stop screwing everyone. I have a 2020 GMC SLT and for the price I paid it has no real safety features. What a joke!!!! “0 PERCENT” should be for everyone and not just the elite! Let the lots fill up and let them reduce the price by $15,000. Imagine how we are about to get bent over on the electric trucks! Good luck with that GM!!!

    Reply

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