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Cars Blog

GM campaign tells buyers they can still get loans

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October 16, 2008 11:08 am
By Peter C. T. Elsworth

DETROIT-- With October auto sales expected to fall short of September's 15-year low, General Motors is launching a campaign this week to reach people who have stopped looking for cars out of fear that they can't get a loan, according to The Associated Press.

Many banks and finance companies, including GM's own GMAC Financial Services, have tightened credit standards because they can't borrow money to lend, or they're reluctant to lend and risk defaults. "But that doesn't necessarily mean you can't get a car loan if you want to get a car loan," GM spokesman John McDonald said. "We just want consumers to know that you have options that you may not be aware of."

GM will promote its financing options with radio, newspaper and digital advertising from Friday through Nov. 3. The program, called "Financing that Fits," will publicize a 6-year-old computer database that lets dealers locate banks, credit unions and other lenders willing to make loans based on a particular buyer's credit information.


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