GM to give dealers $250 for ever customer they don’t send to GMAC

Posted: Oct 17, 2008
Filed under: GM, Industry News

According to a memo obtained by Automotive News, GM is offering its dealers a bonus for every finance deal they send to non-GMAC lenders. The move comes after GMAC said that it will only start lending money to prime borrowers that have a credit score of more than 700.

The program pays up to $250 in incentives for dealers not sending new finance costumers to GMAC in which the salesperson will get $100, the sales manager will also get $100 and the dealer can designate a third employee to receive $50.

Vehicles eligible for the incentive include all 2008 and 2009 Chevrolet, Pontiac, Buick, GMC, Hummer, Cadillac and Saturn vehicles.

Stupid move or smart move? Let us know what you think in the comments section below.

 

Source: Automotive News (Subscription Required)

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  • zermatt
    I have to think that the reason people went with GMAC was because it was a name you could trust. Dealers have a list of other lenders that are of differing quality and reputation.

    Buyer beware.

    GM is just making harder for those that do come in to buy.This is not going to help GM or their customers.
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