zero financing
Thread Starter
Racer
Joined: Aug 2005
Posts: 324
Likes: 3
From: morristown nj
zero financing
zero financing is long overdue on a lot of GM products. I was just given the reason for them not doing it even though they are 1000's of gm cars on the lots. I was told that Cereberus now owns GMAC and that they are struggling with chrysler and now GMAC and can't afford to give anything more. It appears that Daimler drowned with Chrysler . Now Cereberus is suffering with Chrysler and GMAC. I believe this company didn't predict the economical disaster we are now experiencing. Believe any truth to what I was told.
Thread Starter
Racer
Joined: Aug 2005
Posts: 324
Likes: 3
From: morristown nj
Advanced
Joined: Jan 2008
Posts: 63
Likes: 1
From: West Monroe Louisiana
GM still owns 50% of GMAC. They can offer any rate that they choose. If GM desires to offer below market finance rates, they just pay their financing partner the difference between the true market rate and the finance special. No different than a rebate. If you have a choice between a rebate and a special interest rate, it is usually better to take the rebate. Just a bankers perspective.
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Team Owner
Joined: Oct 2004
Posts: 27,420
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From: San Clemente CA
GM still owns 50% of GMAC. They can offer any rate that they choose. If GM desires to offer below market finance rates, they just pay their financing partner the difference between the true market rate and the finance special. No different than a rebate. If you have a choice between a rebate and a special interest rate, it is usually better to take the rebate. Just a bankers perspective.
Usually the dealer and GM share the cost of 0% and some or all of it is added to the price of the car.
Melting Slicks
Joined: May 2006
Posts: 2,324
Likes: 0
From: MN
GM still owns 50% of GMAC. They can offer any rate that they choose. If GM desires to offer below market finance rates, they just pay their financing partner the difference between the true market rate and the finance special. No different than a rebate. If you have a choice between a rebate and a special interest rate, it is usually better to take the rebate. Just a bankers perspective.
Race Director
Joined: Apr 2008
Posts: 17,373
Likes: 6
From: Chatsworth California
Not quite correct. GM owns 49% of GMAC. Cerebus is the controlling ownership interest. They also own GMPP, and they are drowning in debt from the Mercedes-Benz/Chrysler fiasco. GM has no authority to control operations at GMAC or GMPP - they are simply a minority ownership interest, which is why people should be concerned about the viability of GMPP and why 0% on current model Vettes is probably not going to happen anytime soon.
GM sold controling interest to pay off some debt.
CF Senior Member
Joined: Feb 2006
Posts: 23,313
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From: Tucson Arizona
Melting Slicks
Joined: Jan 2004
Posts: 2,158
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From: Henderson Nevada
