GM, Ford roll out incentives for unemployed
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Faced with decades-low sales rates, General Motors Corp. and Ford Motor Co. today announced incentive plans designed to get car buyers back into dealer showrooms by offering to cover auto payments in case of job loss.
GM, which is trying to regain consumers’ trust as it works with the government to avoid bankruptcy, calls its program Total Confidence. Through April 30, GM will offer to make as many as nine car payments of as much as $500 for car purchasers in the event they are laid off within the first two years of buying the car. It will also offer to cover any underwater portion on a financed vehicle that is later traded in for another GM vehicle.
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