Saved By The Federal Government
Automotive News [sub] reports that, thanks to you the taxpayer, GM is offering 0 percent financing through Monday, Jan. 5, on the discontinued Chevrolet TrailBlazer, GMC Envoy and Saab 9-7X, 9-3 and 9-5. “We’ve been trying to hold onto market share with one arm tied behind our back,” says GM Marketing individual Mark LaNeve. “Any tool they can get to make credit available and put deals together is a good thing.” Especially when taxpayers pick up the bill. But Mr LaNeve, what do you say to critics who argue that artificially low rates and subprime lending is what got this country and your firm into trouble in the first place? “ Six hundred twenty (FICO) is not a subprime score,” argues LaNeve. “That’s a very creditworthy buyer. Hopefully, we’ll have access to more of the market that is out there.” Meanwhile, Saab dealers aren’t exactly thrilling over the decision. “We need product, and we need a clear decision made” on Saab’s future, one Saab dealer tells AN. Either “we’re going to continue to be a part of General Motors’ family, or we have a buyer lined up, and here’s the buyer.” And though that decision doesn’t seem to be immediately forthcoming, at least everyone can pretend like it’s the nineties for another week. Trailblazer at zero percent interest? If that doesn’t get the nostalgia flowing, I don’t know what will.
More by Edward Niedermeyer
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Crap, now I've got "saved by zer-O!" in my head. Thanks TTAC! And thanks also to GM and Chrysler for being the worst run companies in the world! It's like they're not even trying. Oh, wait... And an early Happy New Year to everyone. I'm sure we'll have lots of more of the same to look forward to in 2009.
At the moment, you can get a TrailBlazer SS for $24K or so, with zero-percent financing. Hell of a way to tow your race car or enjoy high-speed winters. Sure, the interior sucks and the secondary ride is a disgrace, but if that disqualified a vehicle for purchase you'd never see anybody in a Prius.