GM creates pilot leasing program on certain models

STAFF REPORT

DETROIT — General Motors has created a monthlong pilot leasing program on select 2009 and 2010 models in five states, including Ohio.

Vehicles available under the program, planned to run through Aug. 31, are certain 2009 and 2010 Cadillac, Buick, GMC and Chevrolet models, GM officials.

The leases, offered by U.S. Bank, are part of a pilot program that includes eligible vehicles sold in 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.

“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, Chevrolet Malibu and Traverse. For 2010 models, leases will also be available on the Cadillac SRX, Buick LaCrosse and Enclave, the GMC Acadia and the Chevrolet Equinox.

Monthly payments will vary according to the customer’s down payment and the first month’s payment due at signing, but they are expected to be very competitive. No security deposit will be required, officials said.

For more information, customers in the five lease states should visit their local Cadillac, Buick, GMC or Chevrolet dealer.