Update #1 March-31-2009 1310 PDT:
Here are more details about the "Vehicle Value Protection" portion of the GM Total Confidence program: You'll receive up to $2,500 on a sale or up to $5,000 on a trade-in if you owe more on a vehicle loan than the vehicle's retail value.
For more information, see GM's Total Confidence website.
General Motors has announced a "GM Total Confidence" buyer-protection program for all new GM cars and trucks bought in April. The program includes:
- Payment protection: Covers up to nine months of payments on vehicle loans or leases ($500 maximum per month) if you lose your job for economic reasons during the first two years of ownership.
- Vehicle value protection: Covers any difference in trade-in value if the outstanding principal loan balance is more than the vehicle's retail value after half the vehicle payments have been made, for up to six years.
- Five-year/100,000-mile powertrain limited warranty: Covers repair costs and provides roadside assistance and courtesy transportation, plus the warranty is fully transferable if the vehicle is sold.
- OnStar: Provides one free year of OnStar's Safety and Security package.