With auto-loan defaults at a 10-year high over the past couple months, General Motors may be offering some light at the end of the tunnel. Despite their coping with industry wide sales at there lowest in the past 26 years, and sales off 22.1% just this year, it is expected that GM will team up with a Midwest credit union to finance cars and possibly provide some bonus cash in an attempt to help stimulate auto sales. We saw
this article in the Detroit News and thought - man - this could REALLY jump start sales.
Granting new or current members of a Michigan Credit Union League (with over 1,000 credit unions in Michigan and three other states) access to lower loan rates and a discount of nearly 4% off suggested retail price. This is according to the league's Web site, as GM has not commented yet.
The campaign is rumored to run through June 2009 in an attempt to jump-start sales. Bonus cash may also be offered for as much as $10,000 on some 2008 model vehicles. GM may also offer another perk where all active and retired salaried employees in the U.S will be given the all mighty power to offer vehicle discounts to two people of their choosing! With about 146,000 active and retired GM employees in the U.S, we just might all get a slice of this cake!
Photos courtesy of
TraderColony 
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