• SmartLease and GMAC Loans: 8 Advantages

    GMAC loans and lease offerings have many advantages for customers who are considering a new or certified used General Motors vehicle. While GMAC SmartLease and loan offerings are generally reserved for those with excellent credit histories, your local GM dealer can let you know if any special “D-Tier” offerings are available. GMAC even offers financing options for those who purchase used vehicles from non-General Motors brands. Here are 8 benefits of choosing GMAC for your next loan or lease:

    1. Low Rates: GMAC’s low- and no-interest financing is available on new and some certified used vehicles. In addition to employee and supplier discounts, you can also combine some incentives with the low rates, which all adds up to a great deal for you.
    2. High Residuals: SmartLeases from GMAC support such low payments thanks to a combination of low money factors (the equivalent of an APR divided by 2400, used to calculate the interest/rent charge on a lease) and high residuals (the lease-end value of the vehicle) that are falsely boosted to offer artificially low payments exclusively to GMAC customers.
    3. Lower Payments: With low- and- no interest loans often available for terms of 60 or 72 months, you can stretch your payments out, pay little interest, and enjoy lower monthly payments that can fit your budget.
    4. Flexible Repayment Options: GMAC loans and leases have no prepayment penalties. All GMAC leases include GAP (guaranteed asset protection) insurance, so if you are involved in an accident that totals your vehicle, the GAP coverage will cover any difference between the payoff and actual cash value. You can also elect for a one-payment lease which offers a rate/money factor reduction.
    5. Easy to Understand Terms: GMAC’s SmartLeases and loans have simple, easy to understand terms that can put you at ease when purchasing a new or used vehicle.
    6. Impressive Aftermarket Offerings: GMAC loans and leases can include General Motors-backed service contract, extended warranties (called GM Protection Plans) and credit-life/accident-health insurance that can be financed in your loan or lease. This can help you keep your new purchase on the road for an extended period of time, all while keeping factory or near-factory coverage on your vehicle.
    7. Financing Negative Equity: GMAC will finance up to 120% of the MSRP of a vehicle in most cases, and the amount financed can be raised to as much as 140% of MSRP with underwriter approval. The seamless relationship that GMAC shares with franchised GM dealers means they both have one goal in common: selling more GM vehicles. As a result, you can expect great rates and great service.
    8. D-Tier Financing: GMAC offers low-rate D-Tier financing on select vehicles. This program allows even those with some bumps in their credit histories the opportunity to drive a brand new GM product. The D-Tier financing offers are normally on vehicles in low demand. The rate ranges from 10% APR to 15% APR, and consideration is given to those with credit scores over 530. This is an excellent option to consider, especially if other dealerships or finance companies are trying to force you into an overpriced used car.