|
Vehicle
SmartLease/SmartBuy Overview |
|
Get into the GM Vehicle You Really Want
Both GMAC SmartLease and SmartBuy offer affordable and convenient ways to drive a new GM vehicle. Visit your GM dealership/retailer and see how you can get behind the wheel of a new GM vehicle today. |
Plan Options
SmartLease allows you to pay for the portion of the vehicle you expect to use during the contract period, plus a rent charge, taxes and fees.
SmartLease Plus offers the same great SmartLease benefits without the monthly payments.
SmartBuy combines many of the benefits found in both traditional financing and leasing. Enjoy lower monthly payments with a final balloon payment and you own the vehicle .
Eligibility
If you qualify, everything can be arranged quickly and conveniently at your GM dealership/retailer to get you into the GM vehicle of your choice. And you'll see there's no smarter way to finance than a smart solution from GMAC.
Term Options
With a smart solution tailored to your needs, you get all the pleasure of driving the new GM vehicle with payments that can be considerably lower than traditional financing. |
Mileage Options
Choose from a selection of generous mileage allowances that best meet your driving needs.
Payment Options
GMAC offers fast and easy ways to make your payments quickly and conveniently.
Tools, Locators & Resources
Use GMAC Financing Tools to help make your vehicle purchase or lease decisions.
|
|
Vehicle
SmartLease/SmartBuy Plan Options |
| Smart Ways to Get on the
Road
Got your sights set on a new GM car, truck or van? Great. Looking for
an affordable and convenient way to put yourself in the driver's seat?
We can help. GMAC has a solution for you that offers:
- Lower monthly payments
- A chance to drive a new GM vehicle more often
- No resale or trade-in headaches
- Fast, convenient arrangements
|
|
With SmartLease, you pay only for the portion of the vehicle's value (depreciation) you expect to use over a period of time plus a rent charge, taxes and fees.
You don't own the vehicle; you simply drive it for the term of your lease. At the end of your lease term, you may purchase the vehicle or return it.
SmartLease provides you with significant advantages that can make a new vehicle a financially sound and rewarding part of your life.
And don’t forget about SmartLease Plus – all the great benefits of SmartLease without the monthly payments.
Visit your GM dealership/retailer to find out if SmartLease is right for you.
|
SmartBuy is a purchase transaction that is like a lease because monthly payments can be lower than with traditional financing. That’s because the monthly payments are based on the portion of the vehicle you expect to use during the SmartBuy term plus a finance charge. However, with SmartBuy you own your vehicle.
At the end of your contract you have several options, including keeping your vehicle by making a final balloon payment or simply returning your vehicle and paying a disposal fee (if applicable).
SmartBuy is available in a limited number of states. Ask your GM dealership/retailer about availability.
|
|
Vehicle SmartLease/SmartBuy Eligibility |
| There’s No Reason to Wait
See your GM dealership/retailer now about a SmartLease or SmartBuy
for the vehicle you want. If you qualify for an available plan,
everything can be arranged in about an hour right at the dealership. All
paperwork is done quickly and conveniently so you can get on with the
important things - like enjoying your new GM vehicle.
Here’s how to get on the road with GMAC:
- Visit your GM dealership/retailer
- Select the GM vehicle you want.
- Choose the financing plan that best fits your needs and check to
see if you qualify.
- Determine your payment terms with your GM dealership/retailer.
- Take delivery of your GM vehicle.
- Enjoy your GM vehicle.
SmartBuy is available in a limited number of states. Ask your GM
dealership/retailer about availability. |
|
Vehicle SmartLease/SmartBuy Term Options |
| The Flexibility You Deserve
Driving a new GM vehicle has never been easier. That's because GMAC's
plans provide you with distinctive advantages that are not available
through traditional financing. GMAC and your GM dealership/retailer
offer a variety of SmartLease and SmartBuy financing terms to qualified
customers. Visit your GM dealership/retailer today and ask about
available term lengths that are right for you.
With SmartLease you have:
- A chance to drive a new GM vehicle more often.
SmartLease lets you select a shorter contract term than if you
purchase for a similar monthly payment. That means you’re in a new
vehicle that much sooner and more often.
- Low monthly payments.
Your monthly payments are lower than traditional financing for the
same term because your SmartLease payments cover only the portion of
the vehicle you expect to use during your lease term plus a rent
charge, taxes and fees. As a result, SmartLease payments are
generally lower than purchase payments. . At the end of the lease
term you may purchase the vehicle or return it.
- No resale or trade-in headaches.
At the end of your SmartLease, when you've met all your lease
obligations, you can ask about a new SmartLease on another GM
vehicle, purchase the current lease vehicle or purchase a new GM
vehicle. It couldn’t be easier.
- The option and convenience of no monthly lease payments.
GMAC also offers the option of SmartLease Plus. Enjoy all of the
benefits of a SmartLease without the monthly payments and with lower
out-of-pocket costs than with most other GMAC leases.
- Everything conveniently arranged through your GM
dealership/retailer.
If you qualify, arranging a SmartLease can be done conveniently and
comfortably in about an hour at your GM dealership/retailer. The
faster we work for you, the faster you can enjoy your new GM
vehicle.
SmartBuy is like a lease because your monthly payments can be lower
than traditional financing. But with SmartBuy, you own the vehicle. A
balloon payment is due at the end of the SmartBuy contract and SmartBuy
gives you several ways to cover that payment.
SmartBuy provides:
- The opportunity to drive a new GM vehicle more often.
SmartBuy terms are often shorter than traditional financing terms.
You can drive a new GM vehicle more often -- during its most
trouble-free years.
- Low monthly payments.
Monthly payments (other than the balloon payment SmartBuy requires)
are based on the portion of the vehicle expected to be used (plus
finance charges) during the SmartBuy term. Since SmartBuy is
structured like a lease, monthly payments (excluding the balloon
payment) are usually lower than traditional financing for the same
term.
- End-of-contract choices.
When a SmartBuy contract ends, you have several options:
- Keep your vehicle and make the final balloon payment
- Keep the vehicle and refinance the balloon payment, subject
to credit approval in some states
- Sell the vehicle, keep any profit and pay off the balance
- Return your vehicle and pay a disposal fee and any
excess mileage and excess wear charges.
- Fast, convenient arrangements.
If you qualify, SmartBuy can be arranged quickly through your GM
dealership/retailer. The faster we work for you, the faster you can
enjoy you new GM vehicle.
For complete details about a GMAC SmartBuy for the GM vehicle you
want, see your GM dealership/retailer. |
|
Vehicle SmartLease/SmartBuy Mileage Options |
Mileage Choices Right for You
GMAC offers a choice of generous vehicle mileage allowances. Select either 12,000 or 15,000 miles per year, whichever best matches your driving needs. If you require even more miles, you can arrange for them at the beginning of your SmartLease or SmartBuy contract to avoid excess mileage charges later.
Visit your GM dealership/retailer today and determine the mileage option best suited for you and your new GM vehicle.
SmartLease Mileage Options
Your SmartLease contract will set the number of miles you may accumulate on your vehicle. The standard SmartLease allows 15,000 miles per year. If you exceed the mileage limit, there is a charge for the excess miles if you decide to return the vehicle to GMAC. That is why it is important to select the mileage allowance that meets your driving needs.
Need more miles? If you drive more than 15,000 miles annually, you can purchase additional miles up front and pay less for them than at lease end. If you select this option and turn in your vehicle at the lease end, you may be eligible for a credit if there are unused miles.
Driving more than expected? Regardless of which mileage allowance you’ve selected, if you find that you are driving more miles than originally expected, you may increase your security deposit during the lease term. This will help offset any lease-end charges you may incur. Call us at 1-800-200-GMAC (4622) to request an authorization form. Security deposits will be used as provided in your lease agreement. Amounts not used at lease end will be refunded.
SmartBuy Standard Mileage Options
The standard SmartBuy contract allows 15,000 miles per year. You can also arrange for extra mileage at the beginning of your contract. If you exceed the mileage limit, you will be charged for additional mileage only if you return the vehicle to GMAC at the end of the SmartBuy contract (instead of retaining ownership).
Low Mileage Options
If you drive fewer than 12,000 miles per year, consider the GMAC Low Mileage option. This provides an allowance of 12,000 miles per year for SmartLease and SmartBuy. And, with a lower mileage allowance, your monthly payments (excluding balloon) are lower. |
|
Vehicle SmartLease/SmartBuy Payment Options |
GMAC offers convenient, easy ways to make your monthly payment. GMAC Direct Pay is an automatic withdrawal option that eliminates the need to write and mail a check each month. In addition, we offer monthly billing statements and coupon books. Review the choices and select the option that works best for you.
GMAC Direct Pay (Automatic Withdrawal)
GMAC Direct Pay is the most convenient of our payment options. Your payment is automatically transferred from your checking or savings account to your GMAC account each month on the payment due date. GMAC customers can sign up at their GM dealership/retailer when taking delivery of their vehicle or sign up online for this payment option on your existing GMAC account. Customers who want to make an extra payment or change their due date, should contact us at 1-800-200-4622.
Monthly Statement
Receive a personalized monthly statement including messages pertaining to your leased vehicle from us during the term of your account.
Coupon Book
Receive a payment coupon book and pre-addressed envelopes on an annual basis.
Customers whose billing needs change can simply contact us at 1-800-200-4622.
GMAC Direct Pay
What is GMAC Direct Pay?
GMAC Direct Pay is a payment option that automatically withdraws your monthly payment from your checking or savings account. GMAC does not charge for this service. This process eliminates the hassle and expense of writing and mailing a check every month.
Can I select a due date that will be compatible with the date funds are available in my account?
Yes. A one-time due-date change of up to seven days is available for the purpose of signing up for GMAC Direct Pay. There will be a charge for any additional days. Contact GMAC at 1-800-200-4622 for additional information. If you are a potential GMAC customer, advise your dealer of your due date preference before you sign your contract.
Can I withdraw payments from my savings account?
Yes. GMAC recommends that you verify the correct transit routing number and account number with your financial institution before submitting your GMAC Direct Pay authorization form.
How can I stop GMAC Direct Pay?
Stopping GMAC Direct Pay is hassle free. Simply call GMAC at 1-800-200-4622 at least 4 business days before your due date to stop or suspend the automatic payment withdrawal. You may also stop GMAC Direct Pay online by changing your billing method in GMAC Account Center.
What should I do if I change banks?
You have two convenient options:
1) Log on to GMAC Account Center and select the "Change Banking Information" option and complete a new authorization.
2) Fax one of the following documents to 800-509-4622. Attention: GMAC Direct Pay Authorization.
A new signed GMAC Direct Pay authorization form.
A copy of a voided check from the new account (list GMAC account number on the voided check). Starter checks are not acceptable.
A letter from your bank, including business letterhead and signature.
Allow 4 business days for the changes to become effective.
How do I qualify for GMAC Direct Pay?
All you need is a GMAC Account and an active checking or savings account.
What do I need to sign up for GMAC Direct Pay online?
An internet browser with 128 bit encryption (Internet Explorer 5.0 or higher, Netscape Navigator 4.7 or higher), your GMAC and bank account information, and a printer in a secure location to print out a copy of the authorization form for your records.
Should I include a payment with my GMAC Direct Pay authorization form?
No. If payments are due when GMAC Direct Pay is activated, GMAC Direct Pay will automatically deduct the amount due within 2-3 business days after activation. Subsequent payments will deduct on the due date.
Will I receive monthly billing statements?
No. However, you have the option of receiving a transaction summary once or twice per year. Additionally, you have access to your account status online at the GMAC Account Center or through our automated voice response system 24 hours a day by calling 1-800-200-4622.
What day will GMAC withdraw the payment from my account?
Payments will be deducted from your checking/savings account each month on the due date. If your due date falls on a weekend or holiday, the funds will be withdrawn on the following business day.
Can I pay ahead or make extra payments while on GMAC Direct Pay?
Yes. All you need to do is call 1-800-200-4622 one time to let us know you will be mailing in additional funds.
How do I sign up for GMAC Direct Pay?
There are three easy ways to sign up for GMAC Direct Pay:
Create a profile at the GMAC Account Center, add your automotive account and change your billing method to GMAC Direct Pay.
Complete the authorization form included in the GMAC Welcome Package, mailed shortly after financing or leasing a vehicle through your dealer and GMAC.
Obtain an authorization form by calling 1-800-200-4622.
Can GMAC Direct Pay be entered on more than one GMAC account?
Yes. When enrolling through the mail, you may include all of your GMAC account numbers on the authorization form. When enrolling on-line, you must complete the entire authorization agreement process for each of your accounts.
How do I know GMAC Direct Pay has been activated?
You will receive a confirmation once GMAC Direct Pay is activated. The confirmation will include the due date of the first payment that will be withdrawn.
|
|
