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GM Value Protection program

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GM has opened a new website on gmconfidence.com

One new confidence builder is value protection:

The Vehicle Value Protection Program is provided by ServicePlan, Inc.

Purchase any eligible new 2008, 2009 or 2010 GM vehicle from a participating GM dealer in the United States by June 1, 2009. Only Saab vehicles and medium and heavy duty trucks are excluded.

Vehicle Value Protection does not apply to leases or balloon payment financing.

Then, make your loan payments for at least half of the original term. After that, if you want to buy another GM vehicle, just compare your principal loan balance (not including interest or any refunds on other products/services that were part of your vehicle loan) to the NADA clean retail price for your vehicle. If you owe more than the vehicle is worth, Vehicle Value Protection will help make up the difference.

If you trade your vehicle in to the dealer and pay off the loan, you can recover the difference up to $5,000. If you sell your vehicle in a private sale and pay off the loan, you can recover the difference up to $2,500.

If your original vehicle loan was for more than 110% of the vehicle MSRP, Vehicle Value Protection won't cover the excess.

Maximum Finance Term: Up to 72 months.

Example: Joe borrows $35K to buy a new 2009 CTS.

Then Joe drives it for 2 years, and pays at least $17K off, and goes to trade on a new 2011 CTS.

But what if the trade value of my 09 CTS is only $15K say, and Joe still owes $17K? (Oh no.)

The new program would make up the $2K difference.


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Now THAT could be a deal! Here's why. I recently, as most of you know, had some work done on my 2008 DTS. When I went to pick it up this last time, I was looking at a NEW, (untitled) ALSO 2008 DTS performance that was sitting in the showroom. A nice car, but Red, which I would not buy personally. I had them run the numbers on it and found out that my 2008 LUX III, in 11.5 months, had lost OVER 50% of its value! Now, $5000.00 would never make up the difference, but I can easily see being "upside down" on these newer cars.

I do realize that this is fairly typical with new cars. I mean, loosing 50% value the day you drive it off the lot. but in this day and age, this program MAY give people a little hope down the road.

Never underestimate the amount of a persons greed.

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