General Motors and Chrysler are offering huge incentives this month as they make their way back to a sound business footing. Financing deals are outpacing rebates as a source of savings, however, and the incentive of choice is 0% financing over 48 or 60 months. Both automakers are trying hard to avoid a fire-sale mentality, not wanting to devalue their products as they position themselves as leaner competitors.
> In Pictures: 20 Great June Deals
Still, they aren't shy about offering financing deals worth up to $6,000 or $7,000, depending on the vehicle. With massive overproduction likely to end soon at both automakers, many experts believe the current buyer's market could tighten up. As they move through their restructurings, General Motors and Chrysler have also decided to be a bit more generous to their current customers than new ones -- at least for now. Owners of GM products can receive an extra discount of $1,000 to $2,000 or more on their new purchases. The Pontiac G6 is the best example: It features an Owner Appreciation rebate of $2,500 for current owners of GM products, on top of a $1,250 cash allowance.
> In Pictures: 20 Great June Deals
Editor's Pick: 2009 Chevrolet EquinoxThe Chevy Equinox is GM's chief contender in the midsize crossover segment and holds its own in most competitive comparisons. But its suggested price is about $2,000 or $3,000 less than that of archrivals Ford Edge and Nissan Murano. And if you are financing most of your purchase, the rock-bottom interest rate of 0% over five years could extend that advantage. GM calculates that the typical buyer will save $5,200 on its interest rate deal. And while GM has trimmed back its oversupply of the Equinox recently, there are still enough of them on dealer lots to give you a good selection and some bargaining leverage, especially in light of the GM bankruptcy. Dealers will be especially anxious to see this capable performer contributing to the bottom line again after its 24% sales decline last year. This roomy, five-passenger SUV is powered by either a 185 hp, 3.4-liter V6 engine or a 264 hp, 3.6 liter V6, with standard stability control and Onstar communication and navigation. All-wheel drive is optional.
Please Note: These deals only apply to the month listed above.
Car Shopping? You May Want to Read the Articles Below:
- Dealer Secrets: The Loan Officer- Dealer Secrets: When & Where to Shop
- Dealer Secrets: Have A Shopping Game Plan
