GM to offer free financing

General Motors will offer zero-percent GMAC financing on all of its vehicles to stimulate sales in the wake of the Sept. 11 terrorist attacks.

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.

ATTENTION COMMENTERS: Automotive News has monitored a significant increase in the number of personal attacks and abusive comments on our site. We encourage our readers to voice their opinions and argue their points. We expect disagreement. We do not expect our readers to turn on each other. We will be aggressively deleting all comments that personally attack another poster, or an article author, even if the comment is otherwise a well-argued observation. If we see repeated behavior, we will ban the commenter. Please help us maintain a civil level of discourse.


Email Newsletters
  • General newsletters
  • (Weekdays)
  • (Mondays)
  • (As needed)
  • Video newscasts
  • (Weekdays)
  • (Weekdays)
  • (Saturdays)
  • Special interest newsletters
  • (Thursdays)
  • (Tuesdays)
  • (Monthly)
  • (Monthly)
  • (Wednesdays)
  • (Bimonthly)
  • Special reports
  • (As needed)
  • (As needed)
  • Communication preferences
  • You can unsubscribe at any time through links in these emails. For more information, see our Privacy Policy.