
Originally Posted by
bonaire
I see you're using the GM Card - I can't find detailed info online to detail how it works, other than the primary page on the application saying 5% of purchase value goes towards a GM Vehicle (I assume your note about Volt coming available for this in November) and a link to allowances per vehicle.
If that is true and you use the card say $10K a year, that is $500 towards a car. Does it expire or always roll-over for a few years? Do you have the Volt allowance value yet? I see cars like Cruze are limited to $1000 max allowance. Could Volt be $2000? more? Escalades are $2000, it seems like.
It looks like a good way for a business traveller to really compound their spending into a new car purchase. You don't want to pull out your allowance until you get to a "final price" after doing the dealer negotiations (don't show your cards...) For me, $20K of purchases on Amex translates to a $100 cash-back option (it used to be $200). So, the GM Card looks like a good way to safely accumulate the points. The goal would be to never pay interest on the GM Card by always paying the balance off on-time (otherwise, carrying a balance with interest fees negate your cash back on the car).
Bookmarks