GM Rewards Points applied to GM Loan

[Classic-Chevy-Guy]

Seems like a lot of Z06 owners are looking to spend their GM Rewards points on GM accessories.

Another option worthy of looking into would be to take out a small loan with GM Financial and pay it off with the Rewards Points.

[adamsocb]

And/or use a portion of the incentive points to purchase a GM Extended Warranty.

[Thunder22]

or use it to pay for oil changes or other service items

[Turbo Bob]

Or use it to buy the next model year Z06. Even the dealers will pay a premium for a 6 month old Z06 if you are on more than one list.

[John]

Getting a second set of wheels and E-Ray all-season tires (with of course needing to add in some more of my own money to pull this off).

[lostsoul]

So can people apply those points to the current GM loan or does it have to be for other things or new loans?

Edit: just saw the video in the next thread and he said it could. So maybe Ill take out a little loan... if they offer it for the Eray which still no word =-/

[Ragtop 99]

So can people apply those points to the current GM loan or does it have to be for other things or new loans?

Edit: just saw the video in the next thread and he said it could. So maybe Ill take out a little loan... if they offer it for the Eray which still no word =-/

Read the fine print and make sure you know if you can use the points to make extra principal payments. I thought of doing this, and did not find a reliable answer to this question, but maybe this has been clarified by now. Also factor in about 8 months of interest on the $5k and the fact that GM may not a loan $5k on a $100k car; I think they want a higher loan to purchase so may have to borrow more and then pay it down to $5k after you get the paperwork to make payments.

[JB]

I would definitely recommend a long term extended GM warranty purchased before the 36 month original warranty is up as well as under 24k miles ..should use up half of that five grand.

I think a car like the z06 with a low volume lt6 motor makes a lot of sense.

taking out a GM loan to be able to save five grand isn’t worth it by the time you figure in all the costs.

the service on the dct has to cost a grand by the time you hit 3 years just on the 3 year fluid change. Add in a few 250 dollar oil changes and that five grand is all but used up.

I wouldn’t bother with the GM financing to use the five grand off on the price of the car if you were originally planning to pay in full at time of delivery.

if you are taking out a loa anyway then by all means use the five grand to pay down the principal of the loan

[JumpSquadAuto]

GM loan interest is obnoxiously high. Bought a 2023 Escalade last week and GM Financial came in at 7.99%.....every other bank was under 6%. I would save it for accessories via the app or service/warranty.

Curious if there is a dealer who sells manufacturer extended warranties near cost. Couple other brands have dealers in the mid west who sell extended warranties to customers at like $100 over cost.

[John]

To apply to the GM rewards program: https://experience.gm.com/rewards

[Ragtop 99]

Curious if there is a dealer who sells manufacturer extended warranties near cost. Couple other brands have dealers in the mid west who sell extended warranties to customers at like $100 over cost.

I don't know the mark-up, but Todd Sutherland at MacMulkin has the Z06 extended warranty at a very good price. As of a couple months ago, he was lower than two other well known sellers of the extended warranty.

[23RedMist]

So can people apply those points to the current GM loan or does it have to be for other things or new loans?

Edit: just saw the video in the next thread and he said it could. So maybe Ill take out a little loan... if they offer it for the Eray which still no word =-/

You can use points to pay your loan, your account just has to be registered with the same email so it can show in your GM loan account. I have used point several times on a GM loan, I have points right now I can use on my current Cadillac in my account. You select pay with points, and it will post just like a regular payment. I'm saving my points now for oil changes, and things like that.

[23RedMist]

GM loan interest is obnoxiously high. Bought a 2023 Escalade last week and GM Financial came in at 7.99%.....every other bank was under 6%. I would save it for accessories via the app or service/warranty.

Curious if there is a dealer who sells manufacturer extended warranties near cost. Couple other brands have dealers in the mid west who sell extended warranties to customers at like $100 over cost.

The GM rate depends on the vehicle, and if they have offers at the time of purchase. If there are no offers, it depends on your current credit, location, and financial situation. See the current offers HERE for example on Cadillacs! Chevy HERE and so on.

[John]

The best GM Platinum Plus price for an extended warranty by far, several of us have very recently bid it out, is Todd Sutherland @ MacMulkin. Of course if one is wanting cheaper go with a third party — with all the imo risks involved in that. Personally I would never do that — but it is an option.

I was extremely pleased with my price from Todd but as I noted elsewhere one of the best cost savings measures is buying it with a $250/incident deductible. Todd’s personal cell is:

(978) 660-8045

[JB]

Todd’s awesome and his prices are sharp. I like the $250 deductible feature as well.