In an effort to keep the wheels of (re)invention rolling, General Motors has released plans for a "72-Hour Sale", which starts today and runs through July 6. By our calculations, that's considerably longer than 72 hours, but we're going to give GM the benefit of the doubt and assume they mean business hours. Besides, calling it a "144-Hour Sale" wouldn't be quite as catchy.
To drive home the "72" theme, GM is offering shoppers a shot at 0% financing for up to 72 months (see what they did there?). There are two small caveats: to get that deal, you'll need to be a "well-qualified buyer" (i.e. meet certain credit requirements), and you'll need to choose from a list of approved GM vehicles, which includes:
- Chevrolet Silverado
- GMC Sierra
- Chevrolet Suburban
- GMC Yukon XL
- Chevrolet Impala
- And many Pontiacs: Vibe, G3, G5, G6, and G8
If your vehicle of choice isn't on the list, don't fret: GM is offering 0% financing on other models, too--though only for 60 months instead of 72. You can visit the GM website for current offers; just enter your ZIP code to see what's available in your area. Surprisingly, we found a number of other cars at 0%APR, including a 2008 Chevrolet Corvette. Sweet.
Between this sale, the buzz surrounding some current GM models, and the company's Cash-for-Clunkers hopes, the General may fare reasonably well on the lots in the coming months. Unfortunately, that won't have much effect on how GM does in the courts, where it's begun dropping the "L" word: liquidation.
P. S. If you'd like more details about the "72-Hour Sale", or about GM's Cash-for-Clunkers sales pitch, you'll find the company's press release below.
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Buy and Say Goodbye: July Offers Make Getting a New GM Vehicle More Affordable
- Buy: 72-Hour sale offers new 0 percent reduced-rate financing for up to 72 months to well-qualified buyers on select GM vehicles
- Say Goodbye: GM will have twice as many qualifying vehicles under the Federal "Cash for Clunkers" program, once it is finalized, than any other manufacturer
DETROIT - General Motors made two announcements today that will help make buying a new GM vehicle even more affordable this summer. Here are the details:
- GM is announcing its "72-Hour Sale," running from July 1 to July 6, 2009, where low-rate financing of 0 percent for up to 72 months will be offered to well-qualified buyers on select 2009 and 2010 vehicles in dealer stock including Chevrolet Silverado and GMC Sierra regular, extended and crew cab light-duty pickups; Chevrolet Suburban and GMC Yukon XL SUVs; Chevrolet Impala; and the Pontiac models: Vibe, G3, G5, G6 and G8. Although not part of the 72-Hour Sale, many other vehicles will have reduced rate financing of 0 percent for up to 60 months for well-qualified buyers. A full list of current offers, conditions, and eligible vehicles, is available at: http://www.thecarconnection.com
- GM has 74 different models - twice as many as any other auto manufacturer - that may qualify under the new Federal CARS (Car Allowance Rebate System) "Cash for Clunkers" program. Customers with older vehicles will soon have a new reason to trade in their "clunker" - vouchers worth from $3,500 to $4,500 cash from the CARS program. CARS provides incentives for consumers to bring in their out-of-date vehicle to scrap and trade-in on a new, more fuel-efficient model. Once the program begins later this month, all a customer needs to do is bring in a qualifying vehicle for scrap, and trade it in on an eligible new GM model, that offers a significant improvement in fuel economy, and the dealer does the rest. A list of the GM models that may qualify, depending on the EPA estimated combined fuel economy of the vehicle they are trading in, as well as its age and condition, is shown below. Customers should visit the official NHTSA site: http://www.cars.gov, or their local GM dealer for more information.