What are the Benefits of GMAC Car Loans?

Purchasing or leasing a vehicle manufactured by General Motors (GM) allows many benefits.  The benefits are made available for GMAC cars for both purchases or leases. Here are some of the advantages that you can get from GM's car financing plans:

  1. Two types of auto financing to choose from. GMAC has two types of auto loan programs that you can select. These are the loans for vehicle financing, and loans for vehicle leasing. Under the vehicle financing plan, you can either pay the loan in traditional retail financing approach or the SmartBuy program. You can choose traditional financing if you intend to own and keep a GM vehicle for years. SmartBuy is a "rent-to-own" type of financing where you can eventually own the car if you wish to do so. On the other hand, the vehicle leasing program, is intended for individuals who enjoy driving new GM cars/models every now and then.

  2. Numerous car leasing options. If you decide to just lease a GM vehicle, you can pick one of the three auto leasing plans offered in GMAC car loan programs:

    • SmartLease - Standard leasing option where monthly payment is collected plus a rent charge, taxes and fees. The lease term is determined and the vehicle should be return at the end of the contract.

    • SmartLease Plus - Contains all the benefits that SmartLease offer without the monthly payment.

    • SmartLease Mileage - Payment is determined of how much mileage is used.

  3. Various financing terms. GMAC car loans provides a variety of financing terms that fit its customers' needs assessed through their financial and payment capabilities. Financing period is determined by your creditworthiness, therefore, it is advantageous if you have a satisfactory rating. Aside from your credit standing, the amount of financed car will also be considered. Their adjustable payment terms enable you to pay the loan easily and affordably.

  4. Flexible payment options. When you purchase or lease a GM vehicle, making your monthly payment is easy.  There are three easy ways to settle your GMAC car loan payments. The most convenient option is using their "direct pay" payment method. Using this alternative, a specified amount of fund is automatically transferred from your savings or checking account every month. If you prefer a monthly statement through standard mail, a bill will be sent to your physical address 20 days before the due date. The last option you can apply is using an annual payment coupon book.

  5. Pre-approval application online. If you want to save time going to a GM dealership to find out whether you are qualified for GMAC car loans, you can apply for a pre-approval GMAC financing through the GMAC's website. All you need to do is fill up the online form, provide the required information and a copy of your credit report. A printable certificate containing your application's evaluation will be sent to your email address the next business day. You can then take the pre-approved application to any GM dealership.

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