No Down Payment, No Security Deposit, No First Payment, No Money Due at Signing
DETROIT - General Motors Corp. today announced its latest marketing program, "The GM Sign & Drive," which runs from February 7 through March 31, 2004. Qualified lessees are eligible for these GMAC SmartLease 48-month leases that require no down payment, no security deposit, no first month's payment, and nothing due at the signing of the lease other than tax, title and registration fees. Most 2004 GM cars and light-duty trucks are included in this program.
"'GM Sign & Drive' is a great deal and pretty simple, too," said John Smith, group vice president, GM North America Vehicle Sales, Service and Marketing. "In fact, this might be one of the easiest ways yet for consumers to get behind the wheel of a new GM car or light truck with very attractive leases. With the launch of this new program, and the availability of ‘24-Hour Test Drive' and ‘Hot Button,' there are now three good reasons to visit a GM dealership."
"24-Hour Test Drive" gives consumers an opportunity to take a vehicle home overnight and runs through March 15. "Hot Button," which is the largest vehicle giveaway in a two-month period, provides consumers the chance to win one of 1,000 GM cars and trucks, runs through February 29.
Examples of lease payments for qualified lessees include a 2004 Grand Am SE for as low as $199 a month, a 2004 Chevrolet Malibu at $229 a month, a Buick Rendezvous at $299, and a GMC Yukon SLE two-wheel drive for as low as $429.
Some of the products excluded from this program are HUMMER H1; some Oldsmobiles; Saturn ION 1, Red Line models, and L Series; Cadillac CTS-V, selected models of the Chevrolet Cavalier and Pontiac Sunfire, and some vans. "The GM Sign & Drive" is not available in the states of New York and Rhode Island, although attractive SmartBuy programs are available in those states as well as Texas.
A national advertising campaign including newspaper advertising begins on February 8.
General Motors Corp. (NYSE: GM), the world's largest vehicle manufacturer, employs about 325,000 people globally. Founded in 1908, GM has been the global automotive sales leader since 1931. GM today has manufacturing operations in 32 countries and its vehicles are sold in 192 countries. In 2003, GM sold nearly 8.6 million cars and trucks, about 15 percent of the global vehicle market. GM's global headquarters is at the GM Renaissance Center in Detroit. More information on GM and its products can be found on the company's consumer website at www.gm.com.
The only thing I would be concerned about is the fact that during the one month test drive, these cars will not be pampered. People will take advantage of this just because they can. I've heard of how some people treat leased vehicles. Saturn, I believe, was the first GM division to offer this before the others, and I mentioned my concerns to the dealer. He responded by saying, "well the cars will be under full warrenty" Still, I'll pick one with only 2 miles on it!
Yeah, Im thinking he means 24hr test drive. From what ive seen at a Cadillac dealer here, they had 1 of each model for the 24 hr test drive program and they sold them as demos once the mileage got too high.
Sorry for the confusion guys. It's Saturn that has a month program to return the car and they accept it back, "no questions asked." I was considering an Ion last year, and I guess I confused them. I certainly hope Cadillac wouldn't offer a month testdrive, but other GM cars seem to be marketed with that option. One has to admit that they are becomming more agressive with regard to "hooking" a buyer.
The smartlease is a killer. My girlie did that on a Blazer a while back. Ever see the commercials for it? It all looks too good to be true, so little down, so low payments, then you see that you owe over half of what the car is worth on the 48th payment. I fail to see how it is really a "smart" plan...for the consumer at least.