Agent009
Agent009
"If everything seems under control, you're just not going fast enough."
View My AgentSpace

Print this Page | Digg It | del.icio.us

General Motors Drastically Cuts Back On All Leasing
In another sign that the auto industry is pulling away from lease deals, General Motors Corp. is cutting back incentives on new GMC, Buick and Pontiac vehicles.

Dealers learned Monday that the only lease deal they'll have to offer for those brands through GM's partially owned financial arm GMAC will be on the Pontiac G6, said Russ Shelton, owner of Shelton Pontiac Buick GMC in Rochester Hills.

The narrowed leasing incentives start Wednesday. It is unclear what kind of leasing deals GM will support for other brands, including Chevrolet, Saturn and Hummer.


 Read Article
General Motors Drastically Cuts Back On All Leasing



Comments:

Images hosted in your AgentSpace can now be posted in the comments section using the following syntax (case matters):
[img]IMAGE URL[/img]
Example: [img]http://agent004.myautospies.com/users/150/Sample-Gallery/sample1.JPG[/img]
M35MTM35MT - 8/19/2008 12:40:05 PMView My AgentSpace
+1 BoostDrop the Boost Up the Boost
Mildly on topic:

Anyone see the Chrysler commercials offering 40% of MSRP of the RAM? (Granted, the Ram shown in the commercial is the clean-cut work truck, which is odd that they would even show it, finally some truth in marketing I suppose)

40% off 30k is 12k - good chunk of change there.

reply to this comment
hatepussshatepusss - 8/19/2008 2:16:05 PM
+1 BoostDrop the Boost Up the Boost
D@mnnnnnnnnnnnnnnnnnnnnnnnnnnnnnnn!


mscottc1mscottc1 - 8/19/2008 2:35:31 PM
+1 BoostDrop the Boost Up the Boost
it's no wonder that trucks & other vehicles with huge incentives are worth so little down the road. The manufacturers keep pulling stuff like this! Who would buy a used one when a new one is just as cheap?

Leasing going away = a baaaaaad thing for consumers.


huu76huu76 - 8/19/2008 3:44:57 PM
+1 BoostDrop the Boost Up the Boost
Leasing was bound to catch up to them, even if the economy was good. Same new production with returning inventory equals too much supply.

You can still get fantastic 0.9% lease rates with BMW, they might even throw in a free auto-tranny if you feign disinterest. I guess a $300 million plus write-off and bloated inventory didn't teach them anything.

On an unrelatd topic, I saw a very menacing Hemi Challenger today, first one. I didn't even know they were available for sale yet.

reply to this comment
BMW4me4everBMW4me4ever - 8/19/2008 4:13:35 PMView My AgentSpace
+1 BoostDrop the Boost Up the Boost
huu 76 ... the lease rates are not 0.9%. They are not even close. The least expensive lease rate equates to about 3% for a 328 sedan. The average lease rate equates out to about 5%. pay attention ..


steve27tsteve27t - 8/19/2008 10:04:41 PM
+1 BoostDrop the Boost Up the Boost
Now we will see GM sales really tank. With no decent leases on offer it will take quite a percentage of buyers out of the market. I have leased my vehicles since the mid 90's and would not consider anything but a lease. Rent/lease a depreciating asset and buy an appreciating asset (whatever that might be in todays market?). Leases make perfect sense with low interest rates and if you want to drive a new vehicle, but it will be interesting to see how leases go in the next couple of years.

reply to this comment
huu76huu76 - 8/20/2008 9:38:11 AM
+1 BoostDrop the Boost Up the Boost
bmwever,
I got mixed up, its 0.9% financing new, 1% pre-owned. 1.9% leasing.
www.bmw.ca

www.bmwusa.com shows that you can lease a rich guy 3-series for $399 a month (38000 MSRP, 14,000 in payments so BMW will have to do another write-off as they're still backloading their leases).
2.9% pre-owned.

Can you prove your rates?

reply to this comment
OneOfOneOneOfOne - 8/24/2008 3:27:53 AM
+1 BoostDrop the Boost Up the Boost
who cares about gm lease? the cars depreciate so fast that they are practically worthless in 5 years. gm is going to shrink even more until they make better mainstream cars and stop wasting so many resouces on absurd pinky ring mobiles, I mean ,corvettes.

reply to this comment
To post a comment for this story, you must first Login.

If you do not have an account, you will need to Register (It's Free!).

Most Recent Stories
Bmw rear-wheel-drive variants to wear “sDrive” badgeWho is The Stig is one of the top 10 most searched questionsWagoner to drive Chevy Volt prototype to SenateJe Design upgrades the Vw SciroccoPorsche posts $28,247 average profit per carGM And Chrysler May Agree To Bankruptcy To Get Hands On Federal FundsScrew The Auto Bailout: Why Not Just Nationalize The Industry?SOUND OFF: Should We Back A Detroit 3 Bailout Or Just Let Them Go Under?Chinese Buyers Say If The American 3 Go Under, They Will Simply Buy More German CarsThe Genesis is stealing sales, but from who?Maserati MC Sport Line Package for the GranTurismoProduction 2009 Honda Insight Hybrid RevealedUAW Feels The Heat And Suspends Job Bank And Delays Trust Payments Until 2010The All New Mazda3 5 Door Hatch Debuts In BolognaDoes It Have What It Takes To Be At The Top? The 2010 Audi A5 and S5 Cabriolet - Quick Reference GuideOut of Time, Out of Money, Out of Options GM Spirals Into The AbyssPorsche Panamera Tuned by 9ff and Russian firm's Top Car and CardiBreaking: 2009 BMW Z4 UnveiledVolkswagen Scirocco Studie R Concept unveiled in BolognaAll-New Mazda3 Hatch Unveiled at Bologna Motor ShowDetroit's Big 3 request totals $34 billionMichelin presents Active Wheel systemAudi anticipates record sales in 2008Mitsubishi Lancer Sportback to feature Ralliart and GTS EditionsNovember Luxury Car Sales - Is Infiniti ready for a flagship?UPDATED: First Audi A5/S5 Convertible Photos- STUDS or DUDS? Why No Hardtop?V8 Car Cookout: Bratwurst (Audi S5), Beef Teriyaki (Lexus IS-F) or Bacon Cheeseburgers (Challenger SRT-8)?GM Says It Will Sacrific SAAB, Saturn, Hummer, And Hobble Pontiac For Federal FundsNissan Sales Sour By 44.4% In November: Infiniti Drops 28.0% UPDATED: Audi Sales Ends The Free Ride By Skidding 25.4% In NovemberDETROIT AUTO SHOW: Audi Flexes It's Muscle And Is Set To Debut V10 R8 Sports-CarHonda Civic sales down nearly 30%, Toyota Highlander sales up nearly 50%Chrysler Outpaces GM To The Bottom Of The Heap: November Sales Fall 47%Ford Asks Congress For $9 Billion In Stand By Credit But Has No Plans To Use ItGM Sales Out Does Them All In A Bad Way: Sales Implode 41.3% In November2010 Nissan GT-R Spec V Reportedly Will Cost $160,000 but Not Get More hpJaguar and Land Rover in Big Trouble as Tata on the BubbleMercedes Benz Sales Crumble 38.2% In NovemberMazda Sales Tank 31.3% For NovemberHyundai Makes Everyone Else Look Good In November By Falling 40%Porsche and BMW to Halt Production Honda Sales Falter 30.6% In November: Acura Freefalls 38.9%The World Bids Farewell to the YugoBMW Sales Plummet 36.1% Mini Sales Explode 43.1% In NovemberGM Ceases All Corporate Jet Flights: To Sell Remaining JetsToyota Sales Spiral In November Down 33.9%: Lexus Basement Bound Down 34.7%FOMOCO Sales Continue To Flatline: Down 30.6% In NovemberVolkswagen Finally Fumbles In 2008: November Sales Drop 19.2%Japanese and South Korean Car Sales Plummet in NovemberComparison Test: 2008 BMW M5 vs. 2009 Cadillac CTS-V vs. 2009 Mercedes-Benz C63