What does that last part mean? As far as we can decipher from GM’s brief press release, if you buy a new GM car today and after 24 months of ownership you trade it in for a new GM car, GM will pay the difference if you owe more than the car is worth. There is no mention of a cap on this amount, and we will update this post as soon as we learn of one.
This equity protection requires any owner to have paid off half of the term no matter the length. So if you have a six-year deal you must pay through 36 months before trading the new car in to qualify.
GM is launching a website for the program at gmconfidence.com, but the site is not yet live.