GM Financial

GM Financial

 2.4/5 (1003 ratings)
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About GM Financial

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

GM Financial provides car loans and leases for General Motors’ automotive brands, including Chevrolet, Buick, Cadillac and GMC. It offers financing through dealerships in all 50 states and Washington, D.C. At the time of publishing, you can pre-qualify online and receive a no-interest loan if you have a high credit score.

Overall Satisfaction Rating

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Pros

  • Apply online to pre-qualify
  • Mobile app
  • 0% financing for top credit scores

Cons

  • Penalty for early payment
  • No grace period for payments

Bottom Line

GM Financial is a subsidiary of General Motors. It can help you buy or lease vehicles from authorized dealerships under the GM umbrella. While it’s good to shop around for low rates, consider in-house financing too.

Top GM Financial Reviews

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Rated with 5 stars
Verified

I am literally crying. ... They have been so good to me and working out whatever money issues with my payments, and for that I love and will miss them. I've been with GM financial...

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Rated with 5 stars
Verified

I recently purchased a 2018 Camaro new 6 months ago and … was let go and had no income for a few months... and this company has been so understanding. It's nice to see this type o...

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What is GM Financial?

GM Financial is an auto financing company wholly owned by General Motors. It was formerly known as AmeriCredit until GM acquired it in 2010. GM Financial offers loans and lease agreements for vehicles from:

  • Chevrolet
  • Buick
  • Cadillac
  • GMC

GM Financial allows you to apply online for pre-qualification. Whether you’re shopping for a new or used vehicle, GM Financial can help. Its products are available in all 50 states (and Washington D.C.), as well as in global locations like Canada and Asia.

GM Financial loan options

GM Financial offers financing for vehicles at certified dealerships. Options are available for both personal and business customers.

Loan options vary depending on the make and model of the vehicle you’re financing. The company offers terms between 36 and 72 months.

Customers with excellent credit scores can possibly qualify for 0% financing. Other perks, such as cash allowances and bonus earnings, are available to qualified customers.

If you don’t have stellar credit, there are still financing options available, including special financing options for those with lower credit scores.

GM Financial rates

GM Financial’s interest rates can be as high as 19%, but they vary based on a number of factors, including your:

  • Vehicle choice
  • Credit score
  • Current income
  • Loan amount
  • Loan/lease terms

According to GM Financial’s monthly payment calculator, you can borrow between $7,500 and $125,000. This calculator also gives an idea of what to expect for a monthly payment. For example, a loan of $10,000 with a term of 36 months and a 5% APR results in a monthly payment of $510.

GM Financial does not offer a grace period for payments, so late payments are immediately subject to fees and interest. There is also a penalty for paying off your loan early.

GM Financial FAQ

Does GM finance bad credit?
Potentially. The GM Financial website doesn’t specify a minimum credit score. It does state that it looks beyond credit scores when making approval decisions, though.
Does GM Financial have an app?
Yes, GM Financial does have an app where you can access your account, make payments and find answers to your questions. The app is available for both Apple and Android devices.
Does GM Financial offer special financing?
GM Financial does offer special financing, but it doesn’t specify what’s available. To find out what you can qualify for, fill out an application to pre-qualify on the company’s website.
What credit score do you need for GM 0% financing?
GM 0% financing requires you to have an excellent credit score, likely over 800. Availability and term length for this offer vary by location and vehicle.
What bank does GM Financial use?
GM Financial offers its loans and leases in-house. Previously, the company worked with Ally and U.S. Bank, but it cut ties with those institutions in 2015.

Is GM Financial good?

GM Financial is a good option if you’re looking to finance a vehicle from the General Motors family of brands. It offers loans and leases throughout the United States, and you can pre-qualify for financing online, saving you time at the dealership. That said, there are some downsides to GM Financial, like its prepayment penalties and lack of a grace period. It’s always a good idea to shop around before committing to a financing plan, but GM Financial should at least be on your list of options.

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How do I know I can trust these reviews about GM Financial?
How do I know I can trust these reviews about GM Financial?
  • 3,827,988 reviews on ConsumerAffairs are verified.
  • We require contact information to ensure our reviewers are real.
  • We use intelligent software that helps us maintain the integrity of reviews.
  • Our moderators read all reviews to verify quality and helpfulness.

For more information about reviews on ConsumerAffairs.com please visit our FAQ.

Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: June 9, 2022

Misleading and deceptive company. I leased my car for three years with them and normally, companies will allot more mileage if you extend your car lease, but not this one--first time I am hearing this and everyone was shocked to discover this as well as this is unheard of. It's their manipulative way of trying to push you to get into another car with them and them only. They charge an extra .25 a mile after your mileage allowance is up, which again was not stated in the contract. Moreover, this company is fraught with limitations like this and others.

I was also sent an email after 3 years that I had an option to sign up for rewards to use towards my account that I had been paying for for three years! I was never told that I had this option when I first leased my vehicle. I called to speak to their rewards department (spoke to a Tina, who was absolutely rude and indifferent towards my concerns, going so far as laughing at me and talking over me), and they wouldn't enroll or backdate my points.

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Rated with 1 star
Verified Reviewer
Original review: June 6, 2022

My jeep got repossessed. I'm not blaming no one but me on this. Anyway I got the money all of what they asked for, provide the ins. I did. Said they had to verify so call back in 15 mins. I said I'll give them over a hour so I call back and they said they hadn't even looked at it. Had to wait another hour only to find out that they gave me the wrong pay off amount by 21dollars so I had to call and get that fixed. The problem is they don't care and are rude. So I had pay a another service charge but the time it took literally 5 hours. Had to call back 12 times and after paying everything. They said they called me to tell me where my vehicle was. Never got a phone call. I had to call and ask what was the the status. GM said they called but my cellphone was busy and never called again. What are the odds. Never had the problem before. Just all the way around terrible.

Really upset and disappointed in Gm financial. I thought if they recorded conversation they should hear how rude and how much they don't help. At one time I even told the customer service agent, "Why are you so rude?" Never again. On top of all that they didn't even give me the correct number to pick up my car. They never even gave me the right number to contact tow service. I ended up looking it up on the web. I got down on my luck but I didn't give up thank God but Gm will make things harder when it's already a difficult time. I know I don't matter because I fell behind. They don't care but you still should treat people better than that gm.

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    Rated with 1 star
    Verified Reviewer
    Original review: May 3, 2022

    I was 17 months into a 36 month lease for a Silverado P/U when 1/4% sales tax hike went into effect in my County. I was making all of my payments in a timely manner via Auto Payments through my bank. GM made the unilateral decision to stop accepting my Auto Payments without any notice of the $5.85 per month increase adjustment. There was no courtesy notice of any kind regarding the increase so I was unaware that they stopped accepting my payments. A simple letter from GM would have avoided what was to happen next but somebody made the executive decision to not extend this common courtesy to a customer who was a lifelong GM driver.

    While away on vacation my vehicle was repossessed and shortly thereafter I finally received some communication from GM...not better late than never, in my case. These underhanded management practices need to be corrected lest the same thing happen to other customers. Needless to say my near perfect credit rating took a massive hit thanks to the ineptitude of GM Finance business practices.

    I have outright owned or leased nine GM vehicles in my life including 3 Escalades but this will be my last GM vehicle. I asked a GM rep why I wasn't notified via letter or email of the rate increase and the reps reply was "we don't do that". I think that there would at least be a moral obligation if not a legal one to keep your customer notified of any payment adjustments. I am aware of at least one class action suit, in Illinois regarding this same deceptive practice but being a California resident I was unable to join. Hopefully this tale will help others avoid this same mistreatment I received.

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    Rated with 1 star
    Verified Reviewer
    Original review: March 24, 2022

    Hands down the worst financing company ever. After 5 years I paid off my loan 8 MONTHS LATER 23 CALLS [INC INS COM] a ltr THAT IS NOT MY LIEN RELEASE; AND STILL THEY REFUSE TO PROVIDE MY DOCUMENTATION. I continue to contact them including 3 way calls with ins. com. I get the runaround and only a poorly worded letter stating I have completed my obligation. THEY HAVE NOT reported it to the credit bureau. THEY REFUSE to provide a clean title; and my ins. com. cannot pay out what I am owed due to these charlatans. Even ins. com. states they are overly difficult in procuring needed documentation...is there anyone in this company that is accountable? NEVER, NEVER, NEVER USE THEIR FINANCIAL SERVICES.

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: March 7, 2022

    Paid my lease off On January 13th 2022. Have sent them the documentation that they require 3 times. It is now March 8th and I still don't have a title. After speaking to their customer service on many different occasions terrible terrible customer service.... Went to the dealership where I purchased the vehicle and they inform me this is the usual with GM financial.... Spoke to a customer service representative Debra **. Left her multiple messages and have heard nothing....

    3 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: March 2, 2022

    I cannot and I will not leave a bad remark GM Financial worked with me and they understood and did not ever treat me like a investment. Even though my car was repoed they still tried to help. They truly do care. Not like other companies. My wifes first husband passed away about 10 yrs ago so the house was left to the children. My stepchildren and wife agreed to sell the that was left to them. So we hired a company to sell the house and whatever we had left we were going to start a new life. The company did not even give the kids a dime they kept everything and forged the deed to the house. So I lost my car and the house my step children were devastated. I just want to say thank you TO GM financial for caring. THEY REALLY DO CARE. And again I am so sorry GM Financial.

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    Rated with 1 star
    Verified Reviewer
    Original review: Feb. 3, 2022

    My three years with GM has (with the exception of the truck) been straight garbage from the very beginning, starting with the salesperson firmly placing a budget dagger between my shoulder blades. Told him *exactly* what I could afford to spend on a vehicle in total and was promised that he could get me into the truck I wanted with no issues. He then saddled me with a lease that didn't account for the excise payments, which they then sent me a single four-figure bill that absolutely shattered my budget every year. It was a complete exploit of my inexperience with auto leases. It was pretty awesome the first time around as the mailed bill never even stated why I owed them over a thousand dollars out of the blue, and the app didn't even show it as existing. Even the following year when the app did show that I owed more, it never explained or broke down what was owed or for what. It only got worse. That app is straight trash.

    Contacted them today to ask why the app quoted a purchase price $500 over my contract and found out that I have had an outstanding balance that has been rolling over for almost a year and a half. Not only was that never mentioned on my account statements on the app but it was also *never* mentioned in the paper bills that I insist on getting monthly! Seems that they took some of my payment money and applied it to the tax bill eighteen months ago when I was trying to sort out their piss poor accounting, leaving me with partially unpaid lease payments that accrued over time.

    Imagine having an overdue balance that you are unaware of and have no way of addressing as it hangs over your head for a year and a half... which explains why a payment their app didn't post ended up knocking my 795 credit down roughly a hundred points in less roughly two weeks rather than thirty days. Not only couldn't they explain the why at the time but they refused to retract it. If I was basing my decision on my truck I'd have haggled with them, turned it in and happily gotten a new Chevy. That ship has sailed. I'm done with GM after this circus. I'm buying the truck and using the roughly $7k in equity in it to get a nicer truck from Toyota or Ford. I will never again deal with such an unprofessional, second rate bunch - from dealership through corporation - ever again.

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    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 25, 2022

    At the end of my loan (last payment) I was billed an extra $871.00 because I was offered a deferment during my loan. I understand it would extend my final payment date back. But I wasn't told I was going to billed for extra interest because of this. Especially since they offered me the deferment. Sad to say I am now out almost 1k because of their scams.

    4 people found this review helpful
    Rated with 4 stars
    Verified Reviewer
    Original review: Jan. 20, 2022

    I paid off my vehicle and months later the company said that they were going to repossess my vehicle because I owed a balance. No statements, phone calls, emails or any notifications were sent to me saying that I had a balance after my maturity date payment was made. I even called and spoke to 2 reps that said I had a zero balance and that I would get my paperwork in the mail. I called months later and still haven't received it and now they want to take the vehicle.

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    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 19, 2022

    Asked GM for help when it came to a financed truck. After a speaking to one lady. Was told to send in Carfax paperwork that clearly states information that was not disclosed by the dealership. I proceeded to send in paperwork. When I called back, I find out my case is being closed out before I was able to show anything. For what reason I don't know. But y'all want payments for a truck that's is not able to be driven. It's sad to know that anyone refuse to help in any way. The only person that was very helpful was the customer service woman who helped me get the papers in. But we have yet to hear anything back about the situation. Hurt and ignored.

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    GM Financial Company Information

    Company Name:
    GM Financial
    Formerly Named:
    AmeriCredit
    Website:
    www.gmfinancial.com