GM kicks off 0 percent loans and cash incentives

Just a couple hours after the U.S. Treasury department announced that it will purchase a $5 billion stake in GMAC LLC, General Motors has announced new incentives. GM announced today that it is offering 0 percent financing on the discontinued Chevrolet TrailBlazer, GMC Envoy, Saab 9-7X, Saab 9-3 and the Saab 9-5.

GM said that it is also offering new cash incentives on other vehicles including both 2008 and 2009 models. The incentives will run through Jan. 5th.

According to Automotive News, Mark LaNeve, GM’s North American vice president of sales and marketing said that GM may expand the incentives starting Jan. 6. He said that dealers are happy to have GMAC writing more car loans.

“Any tool they can get to make credit available and put deals together is a good thing,” he said. “Anytime you can make credit available to a wider spread of buyers, that’s a good thing.

Besides the 0 percent loans on some of its vehicles, GM is also offering cash ranging from $500 to $4,250.