General Motors began offering 84-month financing at zero percent interest following the outbreak of COVID-19 in the United States earlier this year. The automaker had sought to boost its sales numbers amid the pandemic with the attractive offering after car dealerships were forced to close nationwide, but it has now put an end to the deal.
As of June 2nd, GM is no longer offering 84-month, zero percent financing to well-qualified buyers on select Chevrolet, GMC and Buick models. Instead, the automaker has decided to put 72-month, 0 percent financing in place on certain models from those brands. The revised offer should prove to be relatively attractive to buyers who may still be apprehensive about making a major purchase amid a global pandemic, but it isn’t as generous of an offer as the 84-month financing deal.
General Motors had also allowed certain customers to defer payments for up to 120 days if they are in the top credit tier in the wake of the COVID-19 pandemic. This deal will remain in place for the month of June, but it cannot be combined with the special finance interest rates. That means customers will have to choose between deferred payments with regular interest rates, or zero-percent financing over 72 months.
Back in April, General Motors announced that it would expand its existing First Responder Discount program to include frontline healthcare workers. This will remain in place until June 30th, enabling eligible buyers to receive the same price as the dealership invoice on certain vehicles, allowing them to purchase a GM car, truck, crossover or SUV at cost.
GM spokesman Jim Cain said previously that these deals are intended to demonstrate for customers “that (GM is) there for them.”
“The financing offers are a way to reinvigorate people,” Cain also added.
General Motors is currently trying to build up a backlog of vehicle inventory after it was forced to idle its U.S. production plants amid the COVID-19 pandemic. It has placed a particular focus on producing its profit-heavy line of full-size pickup trucks, which include the Chevrolet Silverado and GMC Sierra, and is also putting emphasis on starting production of its new line of full-size SUVs.
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Comments
No one should responsibly be offering 84mo financing no matter the terms
No worries.
Check Hertz, they have thousands of 1-2 year old GM cars, trucks and SUV’s for sale at prices that must make GM cringe.
A few examples…2019 Impala LT 21K $17,600
2019 Cadillac XT5 Premium Luxury FWD 35K $29,700
2019 Cadillac XTS Luxury FWD 29K $21,600
2020 Blazer LT 3.6L 11K $27,700
2020 Buick Encore Preferred 9K $17,500
Yes of course these are rental cars, but there are some great deals and many of these will end up on GM dealer used lots soon with another $3-5K added to the price.
Yes, maybe a good deal but a bad title! And your car is worthless with a “previous rental” marked on your title. So if you ever wanted to trade it in, you would get pennies on the dollar. Same with selling it private party.
What there vehicles don’t even last 72 months lol
Wow. The price of cheap plastic and painted cardboard keeps going up.
I’ve always thought of GM as more of a marketing company than a vehicle manufacturer.
If you’re EVER having to offer SEVEN YEAR financing to move your product, your prices are WAY too high.
GM haters gonna hate.. why are you bothering to read the GM news letter anyway? BTW financing deals were offered by most if not all manufacturers. You probably don’t own a car and get around on skateboard or scooter. I own 3 vehicles at any given time and owned high end foreign cars, Ford, Chevy, Chrysler Jeep. This is going to a shock for you but I’ve love every American car / SUV/ Truck/ I’ve owned. Still do.. Wouldn’t have it any other way.
In my 55 years of driving, I have had Swedish, Italian, Belgian, German, Japanese, and American cars. The money pits were German. The most fun for the dollar were Italian. For plain old twist-the-key-it-goes, long-term reliability and comfort, and satisfaction, it has been my American cars, whether GM, AMC, or Chrysler/FCA.
Many was the time I had the greatest in cynical pleasure of picking up workmates at the service departments of various Toyota, VW, BMW, and other such places. Brake problems, electrical gremlins, fuel system issues, and other such delights.
The fact the people that cant spell or know how to use the right “their” tells me they drive a Kia or Hyundai. Considering you know all about cardboard cars. Don’t hate the king of the game cause he’s king. It is unwise. Most GM vehicles will show equity after 2 years on a 7 year contract. They are the most innovative group around and have proved it multiple times. Don’t throw shade if you have no clue. We get it. You have an uneducated opinion based on nothing. Read a book
Don’t tell GM, but for me to buy a GM vehicle they would need to pay me. I’ll give them the same terms, zero financing and 84 months. That’s the only way you’ll see this person driving a GM product.
If the car does not fit in a budget when financing it at 48 months, you can’t afford the car. That’s the painful truth. 72 months or 84 is really insane
They really think th 0% no interest for 72 or 84 months is just crazy thats a long time to pay for a car. They need to lower the vehicle so that you can get people to buy car loans should be know than 48 or 60 months. See they try to sell you on the you’re not paying interest but you paying almost 50 ,00 for a car that not worth that. So if you want to jump start the economy and getting people to buy these vehicles make it affordable. Stop getting over on the people with that bogus 0% they thought they had me telling me its free money no it my good credit that got that which if you have good credit you should be able to get a suv or car that makes you willing to buy with Gap and an extended warranty and not costing all this money. I’m just saying I wanted that buick envision truck but not for 84 months im just saying what real about this
My 2019 Stingray and my 2019 Silverado were both financed 72 months. My house is paid off, I owe nothing except these 2 payments. The low interest and I put as much down as possible made these affordable for me. They look awesome in my garage too!
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