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The day after GMAC got a $6billion bailout and bank status, GM have announced cash rebates and 0% financing on a range of 2008 and 2009 vehicles, with all three US Saab models included. If he didn’t have a history of suing car companies, I’m sure GM would have Tom Waits’ “Step Right Up” blaring from loudspeakers atop the Ren Cen.
It seems if you want to recover some of your US tax dollars that have been given away to the car companies, this might be your best chance – and you get a 2008 Saab as well!
Note – you gotta act quick because this offer expires on Monday, January 5th.
From the GM press release:
GM today announced new reduced rate financing as low as 0% APR for up to 60 months on select new cars and trucks. The reduced rate financing is available to qualified buyers today through January 5, 2009 on many 2008 and select 2009MY vehicles (see list below). Of note, many of the vehicles listed below have stackable bonus cash and/or dealer cash ranging from $500 to $4,250.
“We’re very excited to offer this reduced rate financing through GMAC to encourage our customers to get back into the game,” said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. “This enables even more qualified customers to finance through GMAC at their local GM dealership, and provides additional financing capacity with conventional and reduced rate APRs for our dealers to make sales. With GM’s Financing That Fits, and the Red Tag Sale now underway that offers supplier pricing, customers have an opportunity to get a variety of extremely attractive offers through the end of the year.”
2008MY vehicles and offers for qualified buyers:
* 0% APR for up to 60 months on ‘08 Chevrolet TrailBlazer; GMC Envoy; and Saab 9-3, 9-5, 9-7X
There are other 2008 models from the GM range and a short list of 2009 models, but Saab aren’t included in the 2009 offerings. It’s a 2008 clearout as far as Saab are concerned.
One person in comments has noted that both the rebates AND the 0% financing are available on the Saabs but you might want to check that out before you dive in.
Autoweek spoke to a couple of Saab dealers in Detroit who had this to say:
Because the 0 percent financing waives the cash rebates available for the vehicles, the interest rate doesn’t really provide a better deal for most Saab customers, Playter said.
Another Saab dealer, Tom Sheehan, agreed.
“It certainly won’t appeal to them as much as if the prime rate was 6 or 7 percent, but we’re trying to move a market that’s a little dormant,” said Sheehan, who owns Sheehan Saab in Lighthouse Point, Fla., and is on GM’s National Dealer Council.
Sheehan said he expects traffic at his store to increase 25 to 50 percent because of the GMAC financing news. But his December sales still may not reach last year’s levels. Sales have fallen 20 to 30 percent from December 2007, although they are up from the loss of at least 50 percent Sheehan saw in November.
The dealers also note that this band-aid isn’t anywhere near enough to fix what’s ailing Saab.
“For viability for us, this isn’t the answer,” said Playter, owner of Glassman Auto Group in suburban Detroit. “We’ve got two new products, and both of them have been shelved”–the new 9-5 sedan for six months and the 9-4X crossover for a year.
“We need product, and we need a clear decision made” on Saab’s future, he said. “We’re going to continue to be a part of General Motors’ family, or we have a buyer lined up, and here’s the buyer.”
Kudos to GM for giving their dealers a chance to make some money, but the dealer quoted above is correct. The last thing Saab needs is another bunch of US customers being taught that if you sweat it out, you’ll get another huge discount from GM.
What they need is compelling product and certainty, neither of which GM can provide at the moment.
So….if you’re in the market and can handle the thought of an 08 instead of an 09, start the new year with a turbo rush and get in to your local Saab guy.
He could use someone to talk to, I’m sure.
19 responses so far ↓
1 MarkS
// Dec 31, 2008 at 7:31 am
An appropriate Tom Waits song for Saab could be “What’s he building in there?”!!
2 Dan9-1
// Dec 31, 2008 at 8:26 am
surely if the new 9-5 is out in 2010, surely we should be seeing it out winter testing by now?
3 Richard
// Dec 31, 2008 at 8:31 am
http://www.gm.ca/ss/media/pdf/saaboffer/SAB_clean_AB_EN.pdf
GM Canada is also dishing up deep discounts on their 2008 models – though only the 9-3 SS Aero and 9-5 SS Aero. No SportCombi’s unfortunately. Up to $10,500 is on the table when you finance through GMAC. With discounts like these, it brings the prices very close in line with US prices – even though our dollar is no longer at par. There is no specific mention of an expiry date here, other than it’s a “limited time offer”.
Interesting times.
4 Markac
// Dec 31, 2008 at 9:15 am
I’ve always been under the opinion that band aids aren’t very effective on broken necks…..
5 Karen
// Dec 31, 2008 at 10:58 am
Heard on National Public Radio that GMAC financing is also allowing dealers to lower the credit scores from 700 to 620.
But this IS a clearance sale for Saabs. I’d be tempted for the 9-4X all wheel drive, not another 9-3 when mine is doing just fine at 105,000 with no problems except that broken heat control knob that costs $1300 to fix.
GM has lost a whole generation of Saabistas in what used to be a haven. I was scanning the parking lots in Hadley, Mass from Whole Foods to Trader Joe’s to the mall at UMass-Amherst entrance. Lots were packed due to snowstorm tomorrow.
One old 9-5, one 900S (was tempted to make an offer), and my 1999 9-3. The Subarus ate Saab for lunch in the last few years around here.
Will look for Saab ads on New Year’s Day after the snow, and hope they drop that ‘GM-Surprised?’ tag because THAT is the worst negative branding. The Red Tag pricing was scheduled to end December 31.
I would add to the “compelling product and certainty”, a more reliable dealer network for service. I should have kept writing to SaabUSA about Beck Chevrolet-Saab in Yonkers telling me I needed a new engine for my 1987 900 – they even sent me the written estimate, $9,000 in 1999 – when the real problem was gunk in the fuel injection from having bought Mobil gasoline, fixed for $5 by a mechanic friend in The Bronx (land of auto repair).
I wonder what the government of Sweden is telling the U.S. behind closed doors?
6 Markac
// Dec 31, 2008 at 11:24 am
Karen: Re: your heater control knob. Here is a fix I used on my ‘97 900S. If the knob is just cracked, first glue the cracks and then wrap some fine wire around the length of the collar inside the knob and use some epoxy glue ( Araladite or something- preferably not the 5 minute variety) and coat the whole thing. Then leave it to set for 48 hours before re-fitting to the car. This makes the knob extremely stong and it won’t crack or split again. It will still be somewhat stiff to use, but will still work fine. Mine worked for almost two years until I sold the car. Eventually the dash has to be removed to replace the heater box, but you should be able to delay this for quite some time. The shaft which the heater knob mounts onto is quite a bit stronger than the knob, and is unlikely to break.
7 Tedjs
// Dec 31, 2008 at 11:58 am
Ahhhh 0% financing…. Like the song of Siren, what GM customer can resist the call? And with optional cash on the hood?
In the end, I am not sure if potential buyers were ‘sweating it out’ this time around waiting for GM to open the cash floodgates. I think a lot of people are keeping some money in the bank and waiting to see if they still have a job into next year and how the economy will shake out.
Time will tell on this one.
8 BrianL
// Dec 31, 2008 at 12:09 pm
The cash on the hood goes away if you take the 0% financing option. You get a $500 consolation prize though.
Anyone know if there is still a $1,000 loyalty discount?
9 Karen
// Dec 31, 2008 at 12:55 pm
@Markac – thanks, but my heater knob just fell off one day right after the warranty expired. no crack (but will re-check). Shaft is fine. Have been told by both Reinertsen and Pioneer there is naught to do but remove the dash to replace the heater box. I got it back on, but afraid to use it except in dire situation.
My Michelins are Pilot Exalto all weather. Maybe Massachusetts Black Ice IS a bit much for them.
When I bought my 1999 9-3 in July 2000, was told by Gary Small Saab in Portland, OR, it was a leftover promotion – may be the only 1999 9-3 in Cosmic Blue with black leather interior. Wannabe Viggen?
But, I just read Fortune magazine’s Top Ten Cars of 1999, and the 1999 9-3 was #8, in a field dominated by V-6 and V-8s.
http://money.cnn.com/magazines/fortune/fortune_archive/1998/02/16/237667/index.htm
Just saw a Cadillac CTS ad (GM – Surprised?).
It DOES look like a European luxury car (V-6), so I can see how the deluded GM thinks they can market it globally.
Did Cadillac steal the soul of Saab?
Cadillac translates to golfipoiss in Estonian. Good luck marketing THAT.
@Tedjs: reducing the credit score to 620 will increase sales by 20% easily. Normal replacement demand in US is 13-14 million, and most people still have jobs, and know this is a great time to buy a car if you need one.
10 Spamouflage
// Dec 31, 2008 at 2:04 pm
I bought my Turbo X at 0% for 60 months in September here in Canada. It was a huge incentive. I might have otherwise kept my Volvo or buy a new one.
11 Tedjs
// Dec 31, 2008 at 2:33 pm
@Karen: I hope you are right. There are some dealers here in the Cleveland area that are not moving anything – import and domestic alike.
Local news did a good job getting the word out today that GMAC and GM are able to sell/finance cars again, so hopefully that will help some dealers although with one sales day left this year most will not see activity until 2009.
Service departments are staying fairly busy as people have put some money into their cars to get them through the winter (good for my students). At this point in time if I had an older car right now (and was in the market) I would continue to drive it through the winter and wait for the snow and salt to vanish. Nothing like a Northeast Ohio winter to make you want to crawl into bed and hibernate.
I see Swade is living 13 hours ahead of us here, so hopefully he will tell us good things about 2009 tomorrow morning.
12 fuzzi
// Dec 31, 2008 at 5:14 pm
are these 0 % only for USA or also for Europe ?
13 triple
// Dec 31, 2008 at 11:29 pm
Still not enough to tempt me. I just traded our 2005 9-3 for a 2009 Acura RDX. To get comparable trim levels, amenities, and power, I’d have to go to the Aero XWD for $44,000. Uh, no thanks for a car that won’t be worth half that in 3 years.
14 fuzzi
// Dec 31, 2008 at 11:40 pm
according my dealer this 0% is not for Europe !
15 fuzzi
// Dec 31, 2008 at 11:44 pm
you cannot compare Acura RDX with a 9-3, the Acura is a SUV !
16 triple
// Dec 31, 2008 at 11:59 pm
Yes I can, and I did. Everything is similar, including MPG, for the RDX vs. the 9-3 Sportcombi Aero. for 15K less, and better resale value should I want to sell it later on. My 2005 9-3 sedan wasn’t worth even a third of what I paid for it 3 years ago. Hell, my 2002 9-3 was almost worth more, and I had a lot more interest in that car when putting both up for sale (but I’m keeping the ‘02 BTW).
17 fuzzi
// Jan 1, 2009 at 12:03 am
but the 9-3 is a COMBI Wagon and the Acura is a SUV
or not ???
if so you have to compare the Acura and the 9-4X ?
18 triple
// Jan 1, 2009 at 12:07 am
*sigh* the Combi is a wagon. The RDX is a CUV. It’s a tall wagon, not a true SUV. The ‘Combi’s compete against crossovers, like it or not. In a lot of cases, the vote swings over in the Combi favor, but add in AWD,fuel economy and price, and the Aero version starts to lose a LOT of ground. And the 9-4X isn’t due for another year…..
19 jchan2
// Jan 1, 2009 at 4:30 pm
I will say that the Aero XWD ‘Combi at sticker seems very unattractive- $46K for a compact car that gets 15 MPG city?
But, but.. factor in some substantial discounts (I see an ‘09 ‘Combi listed on Cars.com for right around $33,000) and the ‘combi becomes a much better deal.
Granted, this ‘09 Combi is a titled company car, but with only 300 miles on the clock, who cares?
It does worry me that a lot of these “titled GM company cars” are showing up on cars.com. Does GM really need THAT many Aero XWD, Turbo X, and convertible company cars up in Detroit?