What is GMAC Loans SmartLease?

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November 9, 2016

GMAC Smart Lease is a leasing program from the captive financing company for General Motors, a financial company that is dedicated to helping customers get into General Motors cars, trucks and vans, in addition to providing "GMAC loans" or financing for new or used General Motors vehicles. The company uses leasing options to give drivers more flexibility in the ways that they can get behind the wheel.

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The SmartLease program is GMAC’s standard lease offer that allows drivers to use vehicles for specific amounts of time, without the burden of vehicle ownership. In a lease, there is no consideration of trade and/or resale, and, because the lease vehicles are often warrantied for the duration of their terms, there is often much less liability for repair. A lease can be a way to drive a new General Motors vehicle for lower monthly payments then a purchaser would pay, or a convenient option for drivers who don't like to take on the hassle of maintaining and reselling old vehicles that have depreciated in value.

Customers leasing General Motors vehicles do not pay on the total cost of the vehicle. They pay on “depreciation” over time, and that's why their monthly payments can be less than the ones purchasers pay. However, there are often additional fees attached to leasing agreements, and drivers should read the fine print carefully to know what they are getting into.


GMAC has specific credit requirements for its leasing programs. Potential leasers should also find out what GMAC programs are offered in their state.


In a conventional leasing situation, a driver is limited to certain number of miles per month or year. GMAC offers a tiered mileage structure including allowances for 12,000 or 15,000 miles per year. Drivers can also include additional mileage on leases upfront. Driving over the requested mileage triggers additional fees that can add up for each mile “overage.”

Payment options

For its SmartLease program, GMAC offers a variety of payment options including “Direct Pay” automatic checking account deductions, or monthly statements. Users can take care of payments and other transactions online at the GMAC web site. Other features of the site include tools for looking up local dealerships, in order to figure out where to lease vehicles from, as well as affordability tools and calculators to help potential borrowers fit leasing payments into their household budget and figure out which GMAC would be most advantageous for them.

GMAC SmartLease Plus

As an additional resource for General Motors customers, GMAC has developed yet another option, the SmartLease Plus, which allows drivers leasing General Motors vehicles to make large payments upfront in order to decrease the amount of interest and other charges they will pay in their monthly statements. This option is a way for ambitious and financially savvy drivers to pay less over time for keeping their new General Motors car, truck or van on the road.

Use the GMAC web site to find out much more about any of these leasing programs, and what is available in your area to help you deal directly with local General Motors dealerships through the GMAC company’s innovative leasing and financing options.


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