To Drive More Sales GM Now Offers Customer Protection Package

March 31, 2009

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DETROIT — Just over a day after the embattled automaker's chief stepped down and the White House rejected its restructuring plan, General Motors — still fighting to receive federal funding and help its dealers move units — announced a new comprehensive ownership protection package.

Interestingly enough, in light of recent volatility on the used side, GM Total Confidence includes provisions to safeguard trade-in values down the road, in addition to features that protect owners financially if they lose their jobs, safety measures and vehicle warranty provisions.

GM Total Confidence will be available on GM vehicles bought today through April 30.

"Our Total Confidence plan is an unprecedented offer that reinvents the ownership experience in an extremely positive way," explained Mark LaNeve, vice president for GM North America's vehicle sales, service and marketing.

"Unlike other programs out there, ‘GM Total Confidence' provides comprehensive coverage for new-vehicle owners from protecting their new-vehicle investment to protecting their family's income," he added. "GM Total Confidence provides customers peace of mind in uncertain times."

The Total Confidence plan includes the following features:

—Payment Protection, which provides up to nine months of payments on vehicle loans or leases ($500 max/month) if a consumer loses his or her job for economic reasons during the first 24 months of ownership.

—Vehicle Value Protection, which customers qualify for once they are done with half of the finance contract. This is designed to protect customers from potential volatility in used-car values in the future by providing negative equity assistance if outstanding principal loan balance is more than NADA Clean Retail Value.

—Warranty coverage. Specifically, GM is offering five-year/100,000 mile transferable powertrain limited warranty (whichever comes first) plus roadside assistance and courtesy transportation.

—Family protection. The offer includes one year of OnStar's 'Safety and Security' package, which includes Automatic Crash Response.

"By protecting a customer's payment, investment, vehicle and family, we are reinventing the customer experience," LaNeve added. "The GM Total Confidence plan addresses today's most pressing concerns for new car buyers.

"We asked customers what they wanted, and simply put, this package is it," he continued.

For more information, visit www.gmconfidence.com.

Ford announced a similar program on Tuesday. Details on this plan are available at the SubPrime Auto Finance News Web site.

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