GM Daewoo, Lotte credit card offer for car buyers in Korea

Car major GM Daewoo has taken a new step toward making its vehicles affordable. Effective July 1, the automaker and Lotte Card have jointly announced the launch of the GM Daewoo Auto Lotte Card.

According to auto industry reports, GM Daewoo Auto Lotte Card holders in Korea can accumulate auto points at a rate of 3 per cent on every purchase. On the purchase of a GM Daewoo passenger car, owners can use the accumulated auto points valid for five years. It would also cover repair costs at 31 designated GM Daewoo after-sales service centres, they said.

It has also been pointed Car buyers can also receive a discount of up to maximum KRW 500,000 in advance when they buy the GM Daewoo passenger cars with the credit card. Though users cannot accumulate auto points when the service is availed, the company offers two percent of the amount of every purchase made after the use of this service to redeem the discounted amount for the next specific period. The specific period means a maximum of 36 months, reports said.

When they combine the use of accumulated points with the upfront discount, users can save as much as KRW 2.5 million to the maximum on the purchase of a GM Daewoo vehicle. The other benefits include a discount of up to 5 percent on service at all GM Daewoo Aftersales Service Centers, a three-month no-interest installment payment program with the purchase of a GM Daewoo vehicle, savings of KRW 50 per liter at SK gas stations, Lotte point accumulation of 0.5 to 3 percent on every purchase at All Lotte shops nationwide and a discount of 5 percent at Lotte Department Stores, a discount of KRW 30,000 on car insurance through Kyobo AXA Auto Insurance Co. and Lotte Insurance Co. Ltd and many more.