Incentives for buying SUVs and pick-ups are getting so large that soon the car companies will pay customers just to clear out inventory.
GM (GM) announced another round of cash-back deals, some as high as $6,000, to get people into showrooms to buy light trucks. According to Reuters, GM’s incentives follow Ford Motor Co’s (F) announcement this month that it would offer employee pricing rebates on full-size F-Series trucks."
It is a good deal, really. For a driver who uses 30 gallons of gas a week pumping in $4 fuel, the incentive pays for fill-ups for a year. Assuming that person would drive a tiny car and spend $50 a week on gas, the SUV driver is getting the equivalent of two years to offer driving a Camry. Unless he walks, or rides a horse or bike.
Once again, GM has come up with something brilliant.
Douglas A. McIntyre
Sponsored: Find a Qualified Financial Advisor
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
