General Motors dealership personnel will earn bonus money for sending consumer financing deals to non-GMAC lenders.
The new incentive program underscores the severe retail lending restrictions implemented by GMAC Financial Services, GMs partially owned finance unit.
An Oct. 7 memo to dealers summarizes the upcoming program. According to a copy obtained by Automotive News, the program pays up to $250 in incentives for non-GMAC transactions. Salespersons get $100, sales managers get $100 and the dealer can designate an employee of choice to receive another $50.
The term of the incentive program is unclear. Eligible vehicles include all 2008 and 2009 Chevrolet, Pontiac, Buick, GMC, Hummer, Cadillac and Saturn vehicles, according to the memo.