For example, Chevy is now offering 0.9 percent interest for 72 months on nearly every single model. Want a $14,000 Chevy Spark or a $75,000 Silverado 3500 HD? No problem. Both are eligible. But, there is a catch and, sadly, not all buyers will even notice before signing on the dotted line.
Turns out the financing contract states dealerships have the option to mark-up the rate by 0.2 percent. They also have permission to lower the rate in exchange for a two percent bonus, courtesy of GM. In other words, every dealership can approach GM Financial’s offer as they see fit. Now, a mere two percent may not seem like much, but say you purchase a $40,000 vehicle, this means you’ll be paying an additional $2,524 in interest.