GM Now Offers Six Years of Cheap-Rate Loans on Most Vehicles
According to the Just-Auto.com Web site, General Motors on May 16 further expanded customer incentives, offering six-year loans at a rate of 1.9 percent on most vehicles to boost US sales, Reuters said, adding that the new incentives come on top of GM's zero-percent financing offer on five-year loans on most cars and trucks announced earlier this month.
Up to now, GM had only offered six-year loans on a few models, like the Chevrolet Cavalier and Pontiac Sunfire small cars, and the Chevrolet S-10 and GMC Sonoma compact pickup trucks, the news agency said.
"This is the first time it's been as broadly across the board as it is now," GM spokeswoman Deborah Silverman told Reuters, adding that Cadillacs, Hummers and Chevrolet Corvette sports cars are excluded from the new loan programme.
Reuters noted that Ford has been offering six-year, 1.9 percent loans on a number of its vehicles since early May, including the Taurus mid-size car and the Ranger compact pickup truck.
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