What incentives on GM vehicles can consumers expect during the bankruptcy?
Expect higher cash rebates and/or more generous financing deals. Dealers will have to sweeten their offers to move new vehicles off their lots. During the first month of the Chrysler bankruptcy, the cash rebates on most models were up $500, to as much as $3,000 or $3,500. One example: The incentive on a Dodge Grand Caravan went from $1,500 to $2,000. “A 33 percent increase in rebates is significant,” said Tom Libby, an independent auto analyst in Detroit. Some industry analysts even believe that as much as $5,000 to $10,000 could come off the price of some models. They suggest shopping at the dealerships that are closing to get some of the best deals . How will the bankruptcy affect the resale value of my used GM vehicle? Resale value will decline substantially, if the track record for Chrysler’s vehicles during its first month of bankruptcy is any indication. According to the Automotive Leasing Guide, the projected resale value of Chrysler vehicles after three years fell by an average
