GM Card, how does it work?

[TRBON8R]

After hearing about the deal strikeeagle got on his new Pontiac GTO using the GM card I was motivated to get a GM card myself. After reading the mumbo jumbo on the web site I'm still not sure how the card works.

Say for example I charge up $1000 in a month on the card, but pay it off at the end of the month like I always do. How much of that $1000 would go towards the purchase price of a new car or truck? Since I buy a lot of stuff for work I could easily rack up 20k or so on the card every year. Can someone please explain how the card works?

 

[Tom Tom Turbo]

beware, here is a list of vehicles that cannot be used with the discount, I have 3 family members that work for GM in Flint and Lansing, so this is straight from there:

SSR
GTO
Silverado SS
Corvette and Z06
Cobalt SS
CTS V
STS V
XLR
pretty much anything we would want...except tow rigs

 

[TRBON8R]

Thanks Tom Tom. I didn't know GM had restrictions on what vehicles the card could be used for. No big deal. I can always use the points for a new work truck.

 

[GNSCOTT]

Tom, You sure about the CTS-V. I used it on mine (whopping $300) and I know guys who have used it on 05's. I was told its considered a CTS and you can use a max of $1k.

I think its a load of crap when they can charge merchants 3% and us 20% interest and not give you $500 or $1000 off a $65k car ( STS-V). GM once again seems to be using the card to push their crap no one wants.

 

[Grant National]

I have had a GM card for about 10 years. The base card gives you 5% earnings. There is a limit on the quantity of GM dollars you can use (between 1500-3500) normally. After 2003, If you try to use a GMS(employee discount) you will need the GM extended family card which only gives you 1% earnings but there is no annual cap or limit on the earnings per year. and those earnings can be used with the employee discount. If I remember right the base GM card only allowed 500 or 1000 points per year. I trade cars very often and can tell you that the GMS employee discount is only really good for hot cars because with a little haggling anyone can get close to that price on all but the most desireable models. GM tends to have HUGE discounts at year end that are equal or better than employee pricing IMHO. But still the GM card is worth it for deals like the recent GTO thing....I almost had to get me a goat as well but really need a 4 door...anyway good luck.

Grant

 

[Tom Tom Turbo]

the restrictions might vary from state to state or something, but I was told by two GM employees in Flint as well as a sales manager that all of the vehicles I listed were exempt from the discount. They told me anything that is limited production or special purpose vehicles...I assume that means police packages as well (not that any of us want a police issue Impala)

 

[Grant National]

Sorry for the long post but cut and pasted from
GM's website :2004 Redemption Allowances*

2004 Buick Century $1,500

2004 Buick LeSabre $2,250

2004 Buick Park Avenue $3,000

2004 Buick Rainier $2,250

2004 Buick Regal $2,500

2004 Buick Rendezvous $2,250

2004 Cadillac CTS $1,000

2004 Cadillac DeVille $3,000

2004 Cadillac Escalade $1,500

2004 Cadillac Escalade ESV $1,500

2004 Cadillac Escalade EXT $1,500

2004 Cadillac Seville $3,500

2004 Cadillac SRX $1,000

2004 Cadillac XLR $1,000

2004 Chevrolet Astro $1,000

2004 Chevrolet Avalanche $1,500

2004 Chevrolet Aveo $1,000

2004 Chevrolet Blazer $1,000

2004 Chevrolet Cavalier $1,000

2004 Chevrolet Colorado $1,000

2004 Chevrolet Corvette $1,000

2004 Chevrolet Equinox $1,000

2004 Chevrolet Express $2,250

2004 Chevrolet Impala $2,250

2004 Chevrolet Malibu $1,000

2004 Chevrolet Malibu Maxx $1,000

2004 Chevrolet Monte Carlo $1,500

2004 Chevrolet S-10 Pickup $1,000

2004 Chevrolet Silverado $2,000

2004 Chevrolet SSR $1,000

2004 Chevrolet Suburban $2,250

2004 Chevrolet Tahoe $2,000

2004 Chevrolet Tracker $1,000

2004 Chevrolet TrailBlazer $2,250

2004 Chevrolet TrailBlazer EXT $2,250

2004 Chevrolet Venture $3,000

2004 GMC Canyon $1,000

2004 GMC Envoy $2,250

2004 GMC Envoy XL $2,250

2004 GMC Envoy XUV $2,250

2004 GMC Safari $1,000

2004 GMC Savana $2,250

2004 GMC Sierra $2,000

2004 GMC Sonoma $1,000

2004 GMC Yukon $2,000

2004 GMC Yukon XL $2,250

2004 HUMMER H2 $1,000

2004 Oldsmobile Alero $1,000

2004 Oldsmobile Silhouette $3,000

2004 Oldsmobile Bravada $2,250

2004 Pontiac Aztek $1,000

2004 Pontiac Bonneville $2,750

2004 Pontiac Grand Am $1,500

2004 Pontiac Grand Prix $1,500

2004 Pontiac GTO $1,000

2004 Pontiac Montana $3,000

2004 Pontiac Sunfire $1,000

2004 Pontiac Vibe $1,000



2005 Redemption Allowances*

2005 Buick Century $2,000

2005 Buick LaCrosse $1,000

2005 Buick LeSabre $2,500

2005 Buick Park Avenue $3,500

2005 Buick Rainier $2,500

2005 Buick Rendezvous $2,500

2005 Buick Terraza $1,000

2005 Cadillac CTS $1,000

2005 Cadillac DeVille $3,500

2005 Cadillac Escalade $2,500

2005 Cadillac Escalade ESV $2,500

2005 Cadillac Escalade EXT $2,500

2005 Cadillac SRX $1,000

2005 Cadillac STS $1,000

2005 Cadillac XLR $1,000

2005 Chevrolet Astro $1,000

2005 Chevrolet Avalanche $2,500

2005 Chevrolet Aveo $1,000

2005 Chevrolet Blazer $1,000

2005 Chevrolet Cavalier $1,000

2005 Chevrolet Cobalt $1,000

2005 Chevrolet Colorado $1,000

2005 Chevrolet Corvette $1,000

2005 Chevrolet Equinox $1,000

2005 Chevrolet Express $2,000

2005 Chevrolet Impala $2,000

2005 Chevrolet Kodiak $1,000

2005 Chevrolet Malibu $1,000

2005 Chevrolet Malibu Maxx $1,000

2005 Chevrolet Monte Carlo $2,000

2005 Chevrolet Silverado $2,500

2005 Chevrolet SSR $1,000

2005 Chevrolet Suburban $2,500

2005 Chevrolet Tahoe $2,500

2005 Chevrolet TrailBlazer $2,500

2005 Chevrolet TrailBlazer EXT $2,500

2005 Chevrolet Uplander $1,000

2005 Chevrolet Venture $3,000

2005 GMC Canyon $1,000

2005 GMC Envoy $2,500

2005 GMC Envoy XL $2,500

2005 GMC Envoy XUV $2,500

2005 GMC Safari $1,000

2005 GMC Savana $2,000

2005 GMC Sierra $2,500

2005 GMC Yukon $2,500

2005 GMC Yukon XL $2,500

2005 HUMMER H2 $2,000

2005 HUMMER H2 SUT $1,000

2005 Pontiac Aztek $1,000

2005 Pontiac Bonneville $2,500

2005 Pontiac G6 $1,000

2005 Pontiac Grand Am $1,500

2005 Pontiac Grand Prix $2,000

2005 Pontiac GTO $1,000

2005 Pontiac Montana $3,000

2005 Pontiac Montana SV6 $1,000

2005 Pontiac Sunfire $1,000

2005 Pontiac Vibe $1,000

 

[strikeeagle]

Ben,

I can only tell you what I think I know.

I've had my GM Card for about 10 years now. It's a Gold Card. I was offered the opportunity to switch to a newer card, which has advantages and disadvantages relative to the Gold Card, but declined. The reason I declined is that to my understanding, the newer card had fairly low limits on the rebate that can be applied to any single vehicle. Anyway, there are evidently a number of different cards and programs. When in doubt, call the Card and they can explain everything. I suggest you call them when you have the opportunity.

Back to the Goat. Yes, I bought a 2004 Goat. Actually, it was a Smart Buy. In my case, I received a rebate of almost $4,000 on the GM Card. As I stated before, my payment is $106.77 per month for 23 months, at which point I plan to give the car back to GM and walk away, free and clear. And remember, the ONLY up front money was $67.50 for 2 years New York State registration.

Now, get this. There were guys in places having lower taxes, who negotiated better discounts with the dealer, who received active military and other considerations and received an even larger rebate on their GM Card. I've heard of payments as low as $60. Jeez, I honestly think if you maxed everything out GM would be giving you the car for free.

Anyway, in some cases, depending upon the particular GM Card you had, they did what was called a round up. I mean, some guys had less than $100 rebate built up on their card, and received a round up to over $6,000! The selection process is supposedly random. Those guys just killed!

Hey, when GM wants to clear the 04s they'll do whatever it takes. The 05s just started hitting the dealers last week.

Good luck! Stick with the GM Card - it's worth it, especially when closeout time comes along. I'm convinced the best time to buy a car is between Christmas and New Years. BTW, I'm going to lunch in the Goat today - can't wait!!!

PS - don't believe all the bull you hear about card rules - what vehicles it applies to, money limits, etc. I read post after post about this stuff on several GTO boards and almost all of it was misinformation. People kept saying no one could get my deal. BULL. My deal was totally above board. There were no special considerations. The dealer was perfectly fine with it, and very helpful - it was GM's money, not his. Find out for YOURSELF.

strike

 

[Renthorin]

I spoke with GMcard a while back when they offered me the 'new' card. The limits you can get a 'rebate' on with card dollars applies to the new/current GM card, not the old ones.

I have had mine for 10 or so years and am grandfathered in on the old plan.

Here is how the two plans differ:

EARNING REBATE MONEY:

old plan (mine) - you can earn up to 500 dollars a year at 5%.

current plan - no limit to what you can earn.

SPENDING THE MONEY:

Old plan - you can spend some or all of what you have earned. There is no limit based on the model of the car.

Current plan - you can only spend up to the cap they have placed (see huge list above).

So...... GM did us a favor (year right) but removing the restriction of how much you can earn a year with the new cards. The downside is you can not spend nearly as much as the old plan allowed.

I can not earn more than 500 a year on the card but can spend 8 grand on a car if I have it saved up (note that it would take 16 years)