GM launches campaign to ease credit worries, build traffic

[GMTruckGuy74]

I just received this e-mail alert notice from Automotive News (I only can get the news alerts, I have no access to the rest of the story or website):

GM launches campaign to ease credit worries, build traffic

Donna Harris

General Motors will begin a marketing campaign Friday designed to reassure U.S. customers that they can still obtain auto loans through their dealerships even though credit through GMAC remains tight.

The campaign -- called "Financing That Fits" -- promotes the free Web-based credit application system that dealers already use, Route One.

Route One lets dealers access hundreds of lending institutions, including GMAC Financial Services. The lenders serve consumers with a wide range of credit scores.

The advertising follows GMAC's announcement Monday that it would only finance customers with credit scores of 700 or higher.

"They're just trying to let people know that they can go out and buy a car," said Tom Durant, owner of Classic Chevrolet in Grapevine, Texas.

The campaign ...

Seeing as how several people, myself included, have been upset by GM/GMAC's news this week, maybe this will help out a little? [shrugs]

[GMTruckGuy74]

And right before I leave work, this one arrives:

GM offers dealer bonuses for non-GMAC loans

Amy Wilson and Donna Harris

General Motors dealership personnel will earn bonus money for sending consumer financing deals to non-GMAC lenders.

The new incentive program underscores the severe retail lending restrictions implemented by GMAC Financial Services, GM's partially owned finance unit.

An Oct. 7 memo to dealers summarizes the upcoming program. According to a copy obtained by Automotive News, the program pays up to $250 in incentives for non-GMAC transactions. Salespersons get $100, sales managers get $100 and the dealer can designate an employee of choice to receive another $50.

The term of the incentive program is unclear. Eligible vehicles include all 2008 and 2009 Chevrolet, Pontiac, Buick, GMC, Hummer, Cadillac and Saturn vehicles, according to the memo. ...

Now that pisses me off... GMAC doesn't want anyone with under a 700 FICA score, but to continue to sell cars GM will pay dealership personnel to pass of the loans to another bank.

You know, they just opened a new "Car Sense" dealership down the road from me...