General Motors is reviving its “GM employee pricing for all” campaign. I heard a television ad this morning for that promotion, and here are some headlines:

• Detroit News.
• CNN.
• MSNBC.
• BusinessWeek.

This deal could be a very attractive option for those of you who would otherwise consider leasing a new car. Yes, my husband once leased a car; and no, I don’t recommend it. Besides, it’s getting more difficult these days to find deals on vehicle leases.

When GM employee pricing was available in June 2005, I was a frustrated would-be customer. We did need to replace my car. However, it was not possible to add a car payment to our household budget. My husband had such an erratic work history with short-term temporary jobs from mid-2004 to mid-2005 that we were running out of cash for everything except essentials.

As a result, we didn’t jump into the employee pricing offer. I bought my car a year later, when our finances were much more stable and my old car much less reliable.

So if it isn’t a good time for you to be buying a new car regardless of the price, you are better off sitting out this promotion.

The other possibility to watch for during the next few weeks will be a better selection of used cars coming onto the market as trade-ins.

Start asking around – because if a dealer knows you’re looking for a good used car, you might be the first one to be called when something that fits your wish list shows up on the lot. That actually happened to me in 1990.