DETROIT - General Motors Company announced its expansion of leasing Aug. 3 with enhanced lease programs on select 2009 and 2010 Cadillac, Buick, GMC, and Chevrolet models. The leases, offered by U.S. Bank, are part of a pilot program that includes select GM vehicles sold in five states: New York, New Jersey, Connecticut, Michigan, and Ohio. In addition, a lease on the all-new Cadillac SRX will be offered by U.S. Bank nationally. The pilot is planned currently to run through Aug. 31.
"GM and our dealers have done an incredible job without a leasing program throughout this difficult economic period, but we always knew that we would get back into leasing as it is important to a certain group of our customers," said Mark LaNeve, GM vice president of U.S. sales. "We have a number of products that offer a great opportunity for a lease option. Also, leases are an important part of the luxury market, so we decided that launching the all-new 2010 Cadillac SRX crossover with a national lease will add a lot of excitement."
"U.S. Bank has one of the largest auto loan and lease programs in the nation. We have supported the auto industry for more than 50 years, and this is an example of our continued commitment to the industry," said Tom Wirth, who leads indirect lending at U.S. Bank.
Initially, lease offers will be available on the 2009 Cadillac CTS, and Chevrolet Malibu and Traverse. For 2010 models, leases will also be available on the Cadillac SRX, Buick LaCrosse and Enclave, GMC Acadia, and Chevrolet Equinox. Monthly payments will vary according to the customer's down payment and the first month's payment due at signing, but are expected to be competitive. No security deposit will be required.
For more information, customers in the five lease states (New York, New Jersey, Connecticut, Michigan, and Ohio) should visit their local Cadillac, Buick, GMC, or Chevrolet dealer.