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support payment up front because GMAC incurred the expense up
front by paying the independent GM dealer an amount in excess of
the fair market value of the RISC at the time of its purchase.
5. 1985 Retail Rate Support Programs
In 1985, GM offered eight retail rate support programs on
selected GM vehicles. These eight programs included the
following:
a. 8.8% financing on Chevrolet and GMC S-10 and
S-15 trucks purchased between February 1, 1985 and
April 30, 1985;
b. 8.8% financing on J and P model passenger cars
purchased between March 20, 1985 and April 30, 1985;
c. 8.8% financing on Chevrolet Cavalier, Pontiac
Sunbird, Cadillac Seville and Eldorado, Chevrolet S-10
Blazer and GMC S-15 Jimmy, Oldsmobile Calais, and Buick
Somerset models purchased between May 1, 1985 and
August 15, 1985;
d. 9.9% financing on Buick Electra and Oldsmobile
Ninety-Eight Regency models purchased between June 21,
1985 and August 15, 1985;
e. 7.7% financing on a wide variety of 1985 model
Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, and
GMC vehicles purchased between August 15, 1985 and
October 2, 1985;
f. 8.8% financing on a wide variety of 1985 model
Chevrolet, Pontiac, Oldsmobile, Buick, Cadillac, and
GMC vehicles purchased between October 7, 1985 and
November 20, 1985;
11(...continued)
program has been a significant part of the sales allowances of
GM. Additionally, retail rate support payments continue to be
charged against the car divisions' sales allowance budget.
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