GM Offering Dealers $250 For Every Customer They Don't Send To GMAC [Incentives]

[Andy]

http://cache.gawker.com/assets/images/jalopnik/2008/10/gmac_loan_denied_01.jpgAutomotive News reports that GM is offering dealers up to $250 in bonus money for every loan they sell to a lender other than GMAC. This latest move follows Monday's report on GMAC tightening lending restrictions (http://jalopnik.com/5062876/gmac-now-officially-requires-700+plus-fico-score-for-new-car-loan), and "is an encouragement for dealerships to seek out other sources of funding," says Mike Mullaney of Hudson Pontiac-Buick-GMC in Poughkeepsie, N.Y. The program pays salespersons $100, sales managers $100 and an "employee of choice" (most likely the finance manager) another $50 for non-GMAC transactions.

An end date isn't specified, but the incentive applies to all 2008 and 2009 Chevrolet, Pontiac, Buick, GMC, Cadillac, Saturn and Hummer vehicles. If you buy a new GM vehicle with an outside lender, make sure you negotiate for some of that spiff off your your purchase price. [Automotive News (http://www.autonews.com/article/20081016/ANA05/810159967/1142), Sub. Req.]


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