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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: Joe S Pack who wrote (42465)12/4/2003 5:05:35 PM
From: Joe S Pack   of 74559
 
Home buyers get free car to seal the deal

Thanks to bozwood at THE RESIDENTIAL REAL ESTATE CRASH INDEX
thread.

detnews.com

Home buyers get free wheels to seal the deal

By R.J. King / The Detroit News

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ROCHESTER HILLS -- Buy a house, get a free car.

That's the latest marketing pitch to move new luxury homes in Oakland County.

Beginning today, Sal Mar Custom Homes and several auto dealers will give buyers of new homes at the Clear Creek subdivision in Rochester Hills a $35,000 voucher for a new vehicle. The homes start at $535,000.

The voucher will allow consumers to buy a car outright, avoiding financing charges. Reimbursement will be provided for car purchases of less than $35,000.

"The (luxury) home market has slowed down in the last couple of months, so we were looking for a creative way to spur sales and stoke the local economy," said Tom Zibkowski, sales associate for Sal Mar's 400-home subdivision at Tienken, near Rochester. Just 24 of the houses have been sold.

The promotion, which will end Feb. 14, is a partnership between Sal Mar and dealers such as Crissman Lincoln Mercury in Rochester Hills and Bavarian BMW Motor City Mini in Shelby Township.

Over the past two years, automakers have adopted several creative promotions to spark vehicle sales, including zero percent financing and coupons for newly released DVDs of popular Hollywood films.
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