GM Card members are entitled to receive $1,000 in bonus earnings with the purchase of a new Chevrolet, Buick or GMC vehicle throughout January and February, which can then be used toward the purchase price of the vehicle.
This promotion, which kicked off this week, is open to customers who have been GM Card members since January 4th, 2021 or earlier. The $1,000 bonus earnings can be used toward the purchase or lease of eligible, new 2021 or 2020 model-year GM vehicles and can also be used in addition to applicable GM Rewards Cards program limits. The only vehicle that cannot be purchased with the $1,000 GM Card bonus earnings is the 2021 Corvette.
Let’s take a look at how this promotional deal would play out in the real world. The 2020 Chevrolet Equinox crossover is offered with a $5,500 cash allowance and the $1,000 GM Card bonus earnings, totaling savings of $6,500 over the vehicle’s MSRP. An Equinox in the LS trim level with FWD and the turbocharged 1.5L LYX four-cylinder engine starts at $27,495 including destination, so under this promotion, the customer could pay an MSRP of $21,000 before tax.
It’s a similar scenario with the 2020 Chevrolet Silverado LT Trail Boss, which is offered with $5,500 cash on the hood and $1,000 in bonus earnings under this January promotion. A Silverado LT Trail Boss with the 5.3L L84 V8 engine has a starting MSRP of $50,695 including destination. Under this deal, customers can expect to pay as little as $44,195 before tax.
This offer is not available with special financing and lease offers and cannot be combined with all other active GM promotions and deals. The $1,000 in bonus earnings also expire on March 1st, 2021, so customers looking to capitalize on this deal will want to act sooner rather than later. Customers can only receive one $1,000 bonus earnings payment per GM Card account, as well.
GM sold its captive credit card business to bank Goldman Sachs last year for $2.5 billion. The GM Card enables users to accumulate rewards points from their everyday purchases that can then be used toward the purchase of a new GM vehicle, service appointments or official GM accessories.