GMAC Smartbuy

[LeeC]

Does anyone here have any experience with a GMAC Smartbuy? If so can you give me the particulars? Is it a lease? What is the term typically (36 months)? Is it cheaper than buying? Is the price negotiable?

I've heard this term popping up quite a few times here recently so I figured I would inquire.

-LeeC

[cs1992]

Originally Posted by LeeC

Does anyone here have any experience with a GMAC Smartbuy? If so can you give me the particulars? Is it a lease? What is the term typically (36 months)? Is it cheaper than buying? Is the price negotiable?

I've heard this term popping up quite a few times here recently so I figured I would inquire.

-LeeC

Basically it is a loan of 24 or 36 months with a balloon payment at the end. Options at the term end include returning the car to the dealer, buying/financing the car or selling it on your own. If you sell it on your own, you get to keep the cash! J/K!


Google GMAC Smartbuy for more info. I believe there is a calculator on the GMAC website.