The coronavirus decimated car sales in China and many analysts are expecting the same thing to happen in the United States.
General Motors is trying to prevent that so they’ve announced “well qualified buyers” will be eligible to receive interest-free financing for up to 84 months (7 years) on select vehicles.
Eligible Chevrolet models include the Blazer, Bolt, Colorado, Equinox and Malibu. The offer also extends to the Impala, Trax, Sonic and Spark. It also includes the outgoing Corvette C7 (unsurprisingly, the C8 is not included) and Suburban as well as sought-after models such as the Camaro and Silverado 1500.
Also Read: U.S. Auto Sales Could Fall 9% Due To Coronavirus
On the GMC side of the equation, eligible models include the Acadia, Terrain and Sierra 1500. Buick’s selection is limited, but choices include the Encore and Envision. Unfortunately, the offer doesn’t apply to vehicles from Cadillac.
Needless to say, there are a ton of caveats. Most of the eligible vehicles are from the 2019 model year, but there are a handful of 2020 models. Base models are largely excluded from the offer and some models are only eligible in certain configurations.
To see a full list of offers, customers can visit GM Financial’s website and select their preferred brand from the drop-down menu. It will then pull up all offers for your zip code.
While 84 months of interest-free financing is only available on certain vehicles, others are available with 0% interest for a shorter term. In particular, the Cadillac CT6 as well as the XT4, XT5 and XT6 are available with 60 months (5 years) of interest-free financing. Some models also have incentives on top of the offer, so it might be worth taking a look.
Besides announcing the new promotion, GM reminded customers their dealerships and service centers remain open. The company also noted customers who are concerned about leaving their home can buy vehicles online – from participating dealerships – and have them delivered.
GM is also providing owners with complimentary access to OnStar crisis assist services for a limited time. They’ll be able to help 24/7 during an emergency.
H/T to CNBC
