Information about GMAC Auto Loans

GMAC auto loans are car loans that customers take out directly from GMAC. GMAC is a company that takes care of financing General Motors vehicles for public customers and also provides insurance and other products.

Until recently, GMAC was a "captive finance company", which meant that it was owned by General Motors. Large car companies often set up these subsidiary firms to handle financing, making it more convenient for customers to purchase new cars or late-model pre-owned vehicles. However, the GMAC web site informs readers that a 2006 handoff puts GMAC in the hands of a new set of corporate investors.

For new car loans as well as some pre-owned options, GMAC offers customers "traditional" financing, where the customer gets ownership of the vehicle during the payment period. GMAC offers a variety of terms for financing and payment options including monthly statements and direct withdrawal, a new technology for handling payments on an automated basis.

A GMAC auto loan works for a range of customers, with many different kinds of credit history. One online tool at GMAC is the SmartApp , an online application process where a user enters items about the desired vehicle and their personal financial history. GMAC then evaluates the credit history of the applicant to select the best financing available for that customer.

Online readers can also get information about credit and how it affects vehicle financing. GMAC's SmartEdge Financial Center goes beyond the single auto loan to discuss greater issues in personal or household budgeting and administration, giving readers information that they can use to put an auto loan into a larger perspective. Users can browse details about automotive financing and leasing, as well as banking and insurance tutorials.

Other GMAC auto finance tools put users in touch with a more external community, with a media room where readers can get the latest on how GM is faring and what is going on with the company. GMAC's Community Relations page highlights how the company interacts with its regions of operation, and fact sheets detail the history of this long-time American enterprise.

In addition, GMAC offers auto insurance policies, roadside assistance and a range of other options to drivers. GMAC functions as a kind of "customer service" arm of General Motors, and a way for potential buyers to do the paperwork before an actual purchase of a GM vehicle. GMAC represents a kind of "branded" alternative to other auto loan lenders, such as banks and dealerships. Using GMAC for buying a new General Motors car or truck can provide a more "seamless" transition into ownership, due to the relationship that the financing company has with the auto maker.