GM launches Total Confidence Program starting April 1 to protect customers

[cyberbro]

Originally Posted by Tran

Let's hope this boosts sales for GM's vehicles in general, and the Camaro in particular

That will help a lot of people consider a new car!


Good looking out GM.

[BalogUK]

they say you're eligible as long as you are also eligible for unemployment benefits- BUT, to do this, do you have to finance thru GM or can you have private financing still?

[dkb]

Announced on April fool's day no less. Barney Frank is going to be designing their cars but we should have Total Confidence. Good Lord ....

[Urthman]

I don't want to sound like a downer here...but is any of this really news?

You ALREADY get 1 year of the "Safe and Sound" plan from OnStar.
You ALREADY get a limited 5yr/100,000 mile powertrain warranty.
The "Vehicle Value Protection" is only good for the first 24 months...

So the only thing that is different is this "Payment Protection" which honestly doesn't sound as good as the Hyundai version that came out first.

AND, this offer is only good for the month of April?

I'm just curious as to why they didn't do something a bit more. I love GM and hope to God that they get out of this mess fast, but this doesn't do anything for me.

[garagelogic]

I guess this was in response to similar news from Ford earlier today.

FORD INTRODUCES BEST-IN-INDUSTRY PLAN TO IMPROVE CONSUMER CONFIDENCE, JUMP-START SALES

DEARBORN, Mich., March 31, 2009 – Ford Motor Company is introducing the most comprehensive program available to boost consumers’ buying confidence and begin rebuilding the American economy with the new Ford Advantage Plan.

The plan gives customers another reason to “Drive One” with payment protection of up to 12 months on any new Ford, Lincoln or Mercury vehicle, 0 percent financing on select vehicles and added local charity support.

“Consumers remain anxious about the economy and their own outlook for the future. We at Ford want to do our part to rebuild faith in the marketplace by offering payment protection on every new Ford, Lincoln or Mercury vehicle for up to a year if our customers lose their jobs,” said Ken Czubay, vice president of Sales and Marketing.

“Just as important is additional charity support we will provide in conjunction with our local dealers, who are mindful of how non-profit organizations are struggling during this economic downturn,” Czubay said. “Ford and our dealers have always stepped up to take an active lead role in the community, and that’s why we are also including a charity element as part of the Ford Advantage Plan.”

Ford Commitment to Local Communities
In 2008, more than 18,000 Ford U.S. employees volunteered 100,000 hours to help people in their local communities – that’s the equivalent of nearly $2 million dollars of in-kind corporate contributions. To continue the momentum, in April, Ford will introduce a program in partnership with its dealers throughout the country to assist local charities impacted by the economic downturn. Ford will announce complete details of this expansive community outreach effort in April.

All Ford, Lincoln and Mercury vehicles are covered under the Ford Advantage Plan. The program runs from today through June 1.

In addition to providing 12 months of payment protection of up to $700 per month, customers can take advantage of 0 percent financing on select Ford, Lincoln and Mercury vehicles through Ford’s financing partner, Ford Motor Credit.

Additional Peace of Mind – Ford Quality, Safety and Fuel Efficiency
When selecting their next Ford vehicle, customers also can take comfort in knowing that Ford’s newest vehicles are the best or among the best in fuel economy and cost of ownership.

The Ford Fusion and Mercury Milan are America’s most fuel-efficient mid-size sedans, and the Fusion has a higher residual value than the Toyota Camry after three years of ownership, according to the Automotive Leasing Guide (ALG).

Ford maintains strong residual values throughout its product lineup. Vehicles with strong residual values retain more of their value at the end of their lease contract period. The 2009 Ford F-150 recently received a “Residual Value” award from ALG for retaining the highest percentage of its original price among 2009 full-size light duty pickups at the end of a conventional three-year lease, based on ALG projections. The Ford Escape has a 10-point residual value advantage versus the Chevrolet Equinox after three years of ownership, and the Ford Focus has the highest residual value of any domestic product in the small car segment.

“Ford’s improvements in quality have contributed significantly to our year-over-year improvements in residual values,” added Czubay.

In addition, Ford’s quality is now on par with Toyota and Honda, and Ford continues to have more top safety picks than any other brand.

“This is the strongest product lineup we have ever offered,” Czubay said. “When you combine these great products with payment protection, 0 percent financing and support for local charities, customers can feel confident about getting back into the market for a new car or truck.”

Not huge difference betwen the two other than Ford's max payment amount is greater by $200 and 0% financing and GM's residual guarantee.

[mkaresh]

I hadn't noticed that the "value protection" (details?) only applies for the first two years. How many people trade a car within two years?

It is good that they're offering payment protection for two years. Hyundai only does one. But Hyundai also lets you return the car. That doesn't appear to be an option here.

Correction: the plan description in the OP is incorrect. The "value protection" applies after at least half the payments have been made, and kicks in the difference between payoff and "clean NADA retail." And the odds of the dealer giving you clean NADA retail on your trade are?

[Urthman]

So Ford will cover $200 more than GM and for 3 months longer than GM. Plus the 0%.

GM needs to do 0% for 72 months on ALL vehicles. If they do that, they will sell cars. I may just sell my G8 to by a Camaro if they do that.

[kanakattack]

Don't see how this would affect too many Camaro buyers though, most of us will be taking delivery after April 30th.

[fixxer56]

What if the car doesnt come in between these dates? I ordered on 10/15/08 and got Event Code 3000 as of last Friday

[TJTKSDMJ8]

Why would they only offer it for 30 days? You have to wonder what they have planned. It's really hard not to be leery now a days about these things. Most of us will get our babies in May......Hmmm

[garagelogic]

Originally Posted by TJTKSDMJ8

Why would they only offer it for 30 days? You have to wonder what they have planned. It's really hard not to be leery now a days about these things. Most of us will get our babies in May......Hmmm

Ummm..maybe becuase they have only 60 days to show economic viabilty to their new lords and masters on Capitol Hill? The next 30 days will be critical for GM.

[CamaroScotty]

We at NEWMAN CHEVROLET will CONTINUE to run OUR PROGRAM beyond the Chevy offer.

[tjbusa]

I'd guess GM is hoping to unload a bunch of built cars the month of April.

[The Project]

I watched the news conference live. GM said their payment protection plan was for 08, 09 and 2010 models.