Ron Zarrella, president of GM North America, said the program begins today and runs through Oct. 31. Customer cash and lease incentives will remain in place as an alternative.
In a letter to dealers, Bill Lovejoy, group vice president for sales, service and marketing, said GM market research shows that "shoppers have been distracted but not abnormally so for the circumstances. Consumer credit application volumes are relatively steady at 80 percent of pre-attack levels."
Zero-percent loans will be offered on all 2001 car loans, but only on 36-month loans for 2001 trucks and 2002 vehicles. The highest rate will be 4.9 percent for 60-month loans on 2002 trucks.