GM offers special deal to graduates

By Lynn Kallal

Graduating college seniors and graduate students finally have the advantage of a simplified deal when buying or leasing a car through the 1987 College Graduate Finance Plan.

General Motors Acceptance Corporation Financial Services is ensuring financing or leasing on new Chevrolet, Pontiac, Buick, Oldsmobile, Cadillac and GMC Truck models to graduates, said John Andrews, spokesman for GMAC.

The only requirements the student must meet are that “he should have a verifiable job lined up, and be able to meet the low down payments,” Andrews said. The graduate also cannot have a bad credit rating, he said.

John Edman, GMAC chairman said, “The lack of credit experience is often an obstacle to college graduates who wish to purchase a new car or truck. GMAC’s 1987 College Finance Plan meets this problem head-on by offering a rebate of $400 and by guaranteeing credit approval for a new General Motors vehicle to qualified graduates.”

The plan requires a low down payment on the sale or a security deposit on the lease of the new car, Andrews said. A $400 rebate is offered in addition to the dealership’s rebate, if one is offered. In addition, Andrews said, “The graduate may elect to defer the first payment for 90 days while making a smooth adjustment to the new job.”

“A student graduating in May of 1987 can take advantage of this opportunity. It lasts until April 30, 1988, so they have a full year to use this program. We believe the graduates today are capable of carrying the responsibility of buying a new car, so we’ll give you the opportunity,” Andrews said.

ay Weber, sales manager for Jim Schultz Buick, 216 S. 1st St., DeKalb, said, “All GM Dealers should be offering this deal. In fact, I would be surprised if they didn’t.”