GMAC Loans: Types of Leasing Options

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November 9, 2016

The GMAC company provides financial options and "GMAC loans" for helping General Motors customers get behind the wheel of a new GM car or truck. In addition to conventional financing programs, GMAC offers a range of options for leasing GM vehicles. Those leasing a General Motors vehicle can benefit from lower monthly payments and less hassles when arranging to drive a series of new cars or trucks over several years.

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GMAC SmartLease

The GMAC Smart Lease program represents the company’s primary leasing option. SmartLease customers choose their desired leasing term, and arrange to pick up a vehicle from a participating General Motors dealership in their area.

Mileage Options

GMAC SmartLease customers choose from a “tiered system” to set the allowable maximum annual mileage for the vehicle they've chosen. In this respect, SmartLease is like other leasing options, where drivers need to limit themselves to specific number of miles per month or year to avoid “excess mileage” charges on their bill. In a GMAC SmartLease agreement, the standards are 12,000 or 15,000 miles annually, but drivers can also choose from an additional “mileage plus” option.

Payment Options

Drivers who go with a GMAC Smart Lease agreement can choose to get their bill in the mail each month, or they can sign up for GMAC Direct Pay, an automated billing system that eliminates the hassle of mailing out a paper check. Direct Pay options are available online, with more information on the GMAC site about exactly how Direct Pay works.

GMAC SmartLease Plus

With SmartLease Plus, GMAC has provided customers with even more convenience for handling the cost of a leased GM vehicle. In a Smart Lease Plus agreement, the driver handles payment of the lease up front, so that there’s no monthly charge. Other aspects of Smart Lease Plus also help with the logistics of getting into a new GM car or truck.

GMAC SmartBuy

Another GMAC program could be called a “hybrid” option: with SmartBuy, the driver has the option to either pay off a vehicle with a balloon payment (large last payment amount) or turn in the vehicle to a GM dealership for resale. Specific details apply: read up on the SmartBuy program to see if it will work to get you into the GM ride you’re looking for.

A Lot More

Along with details on SmartLease, SmartLease Plus and SmartBuy, GMAC offers a range of financial planning tools. Car shoppers or those looking for lease options can take advantage of easy online options from GMAC to help build a program that fits their specific household budget and explore the various ways they can get access to cars or trucks from General Motors as the auto maker continues to reach out to customers across the country.

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