posted by GM Fan on Aug 7
General Motors returns to leasing some of their luxury vehicles after exiting about a year back. The program was recently re-launched to include some models from their 2010 and 2009 fleet. Consumers can check out some units from Cadillac, Buick, Chevrolet, and GMC.
The program is operated in collaboration with U.S. Bank. Pilot runs of the leasing program include vehicles of GM sold in Ohio, Michigan, Connecticut, New Jersey, and New York. The new gen Cadillac SRX is being offered for lease nationally by the bank. The initial run will go through August 31, 2009.
GM was forced to cut their leasing program last year due to the drop in profits. Consumers also showed low demand for vehicles because of the recession. The economy is starting to fix itself and the demand for cars has been up recently. According to statistics that monitors the demand in the leasing market, there was a 22% jump in the market demand for the Escalade of Cadillac. The Enclave from Buick has an 18% rise.
Although GM sales was doing okay without the leasing program, the car manufacturer believes that they have a sector which really needs it. The crossover Cadillac SRX really adds excitement to the luxury leasing program since it is offered nationwide.
The 2009 models that will be initially offered are the Traverse and Malibu from Chevrolet, and the CTS from Cadillac. Aside from the Cadillac SRX, other 2010 models like the LaCrosse and Enclave from Buick, GMC Acadia, and Equinox from Chevrolet will be offered
The monthly fees of the customers will depend on how much they put as down for the vehicle with the first month of payment due upon signing. The rates are expected to be very competitive. The company is also not asking for any security deposits.