GM <GM> UNIT TO OFFER PRE-APPROVED CREDIT
General Motors Corp's GMAC Financial
Services said it plans to offer 25 billion dlrs in pre-approved
credit to more than two mln "preferred customers" in a
nationwide direct mail campaign.
    The GM unit said the program is the largest automotive
credit offer of its kind in history.
    GMAC Financial Services said the mailing will be completed
by early March. Selected current GMAC customers will receive
offers of pre-approved credit equal to the cash selling price
of the vehicles they are currently financing, rounded up to the
next 1,000 dlrs.
    Within this group, Buick owners will also receive a special
discount of 300 dlrs that would be provided by GM's Buick motor
division if they accept GMAC's offer to finance or lease a new
Buick.
 Reuter
