General Motors Corp., following the lead of...

General Motors Corp., following the lead of Ford Motor Co., said it will offer 4.9% financing on two-year loans for 1988 and 1989 S/T-15 pickups. Also available are rates ranging from 6.9% on loans of three years to 9.9% on loans of five years. In lieu of the cut-rate financing, GM said buyers can receive rebates of $500-$750 on the truck, depending on the type of transmission. GM also said it is offering rebates of $500-$600 on its compact Jimmy utility vehicles, C/K Sierra pickup trucks and R/V full-sized trucks. The program began Monday and expires March 6.