What are GMAC Car Loans?

GMAC car loans are automotive financing plans offered to customers who buy or lease cars manufactured by General Motors Corporation for the financing of their vehicle purchases and/or leases. This financing service can be obtained at any GM dealership or retailer.

Eligibility Requirements

Credit history is the most important factor that is considered for a GMAC car loan application to be approved. The information of the past and current credit report, as well as the payment records and other related data will be evaluated by the Finance and Insurance department of a GM dealership. If the customer meets the requirements, they will then sign the sales contract.

Payment Options


A customer has three options to pay his or her monthly GMAC car loan obligations:

  • GMAC direct pay - A payment method done through an automatic withdrawal where the monthly payment is directly transferred from the customers checking or savings account to their GMAC account.

  • billing statements - A monthly statement is mailed to the customer.

  • coupon book -  A payment coupon book is given to the customer where he or she pre-addressed envelopes on yearly basis.

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