Gmac advises prospective car buyers to choose the traditional auto financing option if they plan to drive the car for more than a few years, and the car is driven well over 15,000 miles per year. You can use Gmac or your bank to finance the traditional auto financing option.

Gmac SmartBuy program is the second type of auto leasing available through Gmac. Under SmartBuy, you eventually own your car, but the monthly payments are typically lower than the traditional car financing. The monthly payments are lower because Gmac takes a fraction of each monthly payment and moves it to the end of the contract, accumulating it into a "balloon payment". If you don't want to pay for the "balloon payment" at the end, you can simply return the car and pay a smaller disposal fee. You may even sell the car and hope to sell it for enough to cover the outstanding balance. Under the SmartBuy, you cannot drive your car for more than 15,000 miles per year.

Some car purchasers may find auto leasing more favourable. Gmac offers auto leasing program which simply put is a long term car rental process. Under auto leasing option, you don't own the car and don't have the option to own it. Typically auto leasing monthly payments are cheaper than auto financng monthly payments, because under auto leasing, you must return the car to Gmac at the end of the lease contract. There are pros and cons to auto leasing, such as possible tax benefits, lower monthly payments, advantage to drive a new car every couple years or so. Make your own research before deciding which auto financing options is best for you.

Gmac offers three different
car lease options
SmartLease, SmartLease Plus and Low Mileage Lease.

SmartLease
is the standard auto leasing option from where your monthly payment covers the car's value, plus a rent charge, taxes and fees.

Smartlease Plus Check

Low Mileage Lease
is beneficial to those who drive under 12,000 miles per year. Here the monthly lease payment is lower. Note Gmac charges excess milease charge if you drive the car over 12,000 miles per year.

Gmac auto insurance also offers several neat programs that help drivers after a collision:

Gmac SmartReplacement Program
which does all the legwork to find you a suitable replacement car.

Gmac SmartParts Promise Program
which guarantees only EOM car parts are used for collision repairs so as to help you maintain your original warranty.

Gmac SureDrive Program
which arranges a replacement car for you and you never even see a bill.

According to Gmac insurance website, customers who switch are saving an average of $355.98 per year.

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