Today, GM announced a deal with a consortium of 1,200 credit unions in Illinois, Indiana, Michigan and Ohio that will make $10 billion in low-interest car loans available to car shoppers. Credit union members will not only get access to the loans, they’ll also get GM’s supplier discount on top of other current incentives.
The program is set to run today through June 5, 2009. If you purchase a car before Jan. 5, 2009, however, there will be another $250 in cash back.
This deal is only eligible to members of the credit unions, but anyone who opens an account with a credit union will be qualified as well.
The credit union group’s website has links for future plans with Ford and Chrysler as well, but there have been no announcements made by either of those companies.