• GMAC Loans Direct Pay: A Definition

    GMAC loans direct pay is a feature that allows your monthly retail, SmartLease or SmartBuy payment to be deducted directly from your checking or savings account. Direct pay is normally selected at the time of delivery at your dealership. While completing title and financial paperwork, the finance manager will offer direct pay, for which you will will out a form. Direct pay can also be added to your account at any time after taking delivery of the vehicle by visiting GMAC’s website.

    What Is Direct Pay?

    Direct pay is simply that: a withdrawal that is made on a set schedule from your checking or savings account. By calling GMAC at 800-200-GMAC, your due date and other terms of your direct pay agreement can be changed. You can also change many options on your GMAC direct pay account at the GMAC website.

    Direct pay is usually selected because it provides a convenient payment option and relieves you from having to write and mail a check on a monthly basis. However, in some cases, GMAC will require direct pay as a stipulation for approving the loan. Direct pay may be required in any case where the borrower has some past missed payments, late payments or an otherwise low credit score that results in higher risk to the lender. Direct pay will ensure that GMAC gets their payments on time, provided that you have adequate funds in your account.

    Direct pay offers a good alternative to writing and mailing a check each month, and it also ensures that your payments are received in a timely manner, to help boost your credit score and reduce possible late fees.