Wednesday, May 24, 2006

A gift from your friendly neighborhood auto pusher dealer

vials of crack cocaine

GM offers $1.99 'gas cap' for new customers

Drivers in California and Florida are about to get a reprieve from high gas prices, with, of course, a hitch, according to media reports.

General Motors Corp. on Tuesday announced a program that would effectively cap gas prices at $1.99 a gallon for customers who buy a new, full-sized sport utility vehicle or mid-sized car by July 5. The customers also must sign on for GM's OnStar service, which is free for the first year, but $16.95 a month thereafter.

Customers will receive a pre-paid card each month from GM that would cover the cost of gasoline beyond the $1.99-a-gallon mark. The amount on the card will be based on the average price of gasoline in the state, along with the number of miles driven as recorded by the OnStar service.

...

In California the eligible vehicles are, from Chevrolet:

  • Tahoe
  • Suburban
  • Impala
  • Monte Carlo

From GMC:

  • Yukon
  • Yukon XL
  • Hummer H2
  • Hummer H3

From Cadillac:

  • SRX

From Pontiac:

  • Grand Prix

From Buick:

  • LaCrosse

Any experienced dealer will put money back in a junkie's pockets only when he is attempting to keep him on the string, or when he knows he's offering beat goods. In GM's case, both reasons apply.

1 Comments:

Anonymous RandyH said...

Yeah. That was my initial thought of the program as well. I read the details on this program somewhere. It may sound tempting to some dumb lug that wants to buy that new penis extension, er Hummer or GMC Yukon, but is afraid of what gas prices are going to do over the next year. But really, this is in place of the popular up front cash rebate programs and isn't going to cost GM any more than those programs did, they're just going to spread the payments out over the first year of ownership. GM puts so much money per mile driven each month, as reported by your Onstar computer into a pre-paid credit card for you.

But yeah, how's the proud new Hummer owner gonna feel when these gas-rebate payments end and they get stuck paying $200 bucks a week to drive it next year?

Is it just me, or have others noticed used car lots loaded with late-model gas guzzlers lately? I wonder if repos of last years SUV purchases are a bit higher than normal right now, because if someone can't afford to drive it, maybe they've also quit making the payments. With all the great nothing-down financing offers from last year, they couldn't get the loan amount back from selling it. I wonder how outfits like GMAC financing are handling this. Just a thought. Maybe that's just what I'm seeing in my area because so many people drive the things here so that's just what the dealers stock.

12:13 PM  

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