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GM Financial

GM Financial

 3.6/5 (286 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

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

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.

GM Financial Reviews

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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?
  • 3,426,712 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: Oct. 8, 2021

I bought a brand new 2021 Chevy Silverado Z71 back in May with 48 miles on it. And it’s been nothing but a headache less than 6 months later. A common problem in these New Silverado’s online-the lifters went completely bad. The truck is no longer driveable. But there has still yet to be a “recall” because “ that’s only something the government issues. Anyhow-here we are 3 weeks later-no truck-no answers-same runaround from Sam Pierce-GM Financial-and American Chevrolet that it’s not anyone of their responsibilities to fix the problem. No rental coverage-because ”sorry there aren’t any rental cars for 2 weeks out”! No answers.

We are an 8 person family with 2 full time jobs on one car and still expected to pay this month's payment on a truck we haven’t even had in our possession and don’t know when we will get it back. No one wants to take responsibility and I hope this saves someone the headache to think twice before you deal with another 80 million dollar company that doesn’t care if you lose your job because of their faulty vehicles. Couldn’t even cover a rental car when you sign an agreement to pay on a 52,000 truck. You would think if you can’t cover a rental-and you're completely without the vehicle they would at least compensate the time it wasn’t in your posssession at the very least! Just sick!

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Rated with 1 star
Verified Reviewer
Original review: Sept. 6, 2021

I traded my Chevrolet in July to another dealership, and a check was sent for payoff, yet GM says they never received payment-- I'm guessing so they could earn more interest or late fee. Maybe they just mishandled the payment. So I had to deal with having another check sent. The dealership I traded with is very reliable- even mailed me my garage door opener that I left in my trade in, and made good on we owe. So, I trust them when they said they sent the payoff the 1st time.

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    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 24, 2021

    I have now been waiting 29 days for my title. The vehicle has been paid in full for almost a month. After 3 long hold times and promises to expedite this title I still wait. I guess it is time to buy a Jeep.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 11, 2021

    I called GM Financial to let them know my Aunt passed away and she had a vehicle leased through them. The woman from GM said just have someone take over the lease since there is such low miles on the car. When I called to do that I was told we could not do that as there was no will which means no executor and the executor has to sign off on it. They then stated we could outright buy the car but a bank or dealership had to call for the payoff. I had my mom go to the bank, they got the payoff, she got a check and when we called to ask where to mail it and how to get tags for it GM Financial said, "You can't do that without a signoff from the executor."

    We tried to do the right thing from the beginning and each person I talked to gave me wrong information. My Mom wanted to purchase that car for emotional reasons and it has been 3 weeks of a lot of work and wrong information given by GM. I am a Toyota girl myself and I will never ever finance with GM or buy a GM vehicle.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 27, 2021

    Okay .. I work for a bank and see dozens of people daily and then I get surveys. So I’m not one to complain but this company is hot garbage, Honestly and truly. Look elsewhere. You’ve been warned. Worst customer service ever.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 27, 2021

    Tried numerous times to update my account using the on-line app. Bought 2 vehicles using GM Financial and rely on the app to log in and manage payments, statements, and reference updated info quickly. Representatives are lack the ability to resolve my TIN # error submitted by the dealership in order to add my newly purchased vehicle to the app.

    2 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 13, 2021

    I paid off my truck and needed my lien release to sell it (even an emailed copy). I spoke to 2 customer service reps saying they could do it. Then the 3rd said they can’t, now I have to wait hopefully only 3 weeks to receive it and hope the buyer still wants my truck. Then once my account was paid I didn’t have access to my account online, so they could even send me a letter saying it was paid. Never using them again, horrid experience.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: June 2, 2021

    I have two vehicles leased through GM Financial. All was well until an object fell out of vehicle in front of me, I was unable to avoid it. Total Loss. Luckily I had Gap insurance that was required by the company. It was my third year into the lease, 6 months before termination. Just prior to my total loss, a woman picking up items from a neighbor backed into my car, so there was prior damage that had not been repaired. I ended up owing GM financial $861 dollars. My insurance company paid them out, and also gave them my unused licensing fee returned by the state of CA, this was $260. GM agreed that they didn't pay the license fee the years after the first year, so they weren't entitled to the money, however, if my insurance company was going to give them the money they would keep it. They advised me to tell my insurance company to issue them a check that didn't include it and we would be settled.

    My insurance company did give them the amount (the money for the car, the license fee, and returned taxes). I asked GM total loss to put that money from the licensing return toward my 892 owed. They refused. They also refused to return the unused licensing fee to me. April 5th of this year they made first contact with me by phone about this and the money I owed them. I told them to send me a bill, and I would have it all paid off by June or mid June of 2021, and then I would seek legal counsel regarding the licensing fees that they took as a windfall. They did not send me a bill until (per their records, May 4th, 2021). They put my account into delinquent status and by May 5th it had already hit my credit report.

    I called them to try and square it away and repair my credit as it was the first negative mark I've ever had. They now tell me I owe them 961, not 892. I go home and literally have a bill in the mail from them that says I owe the 892.58. I call the total loss department again the next day and tell them that I have a bill dated 5/24 and it has a different amount. They tell me that there was an adjustment, and the new bill is 961.75. If I want my credit repaired I have to pay this. And they stole my licensing fee. WHAT AN UNETHICAL COMPANY. Worst experience of my life (I'm 42 years old).

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    Rated with 1 star
    Verified Reviewer
    Original review: June 2, 2021

    It is impossible to reach customer service. After 2 wks a person answered. As I was speaking she hung up.. after I waited 55 min. I have been in management and in all my years I have never experienced such incompetence of a financial co. My 3 degrees are not in finance but I'm astute enough to know when a company is horrendous. It should not be allowed to operate. I hope Consumer Affairs can straighten out the company so customers' questions can be answered. I usually have a lexus and after 2 rings their finance co answers your call. To have GM Finance operate in the USA should be forbidden. Americans dont deserve this treatment when paying for any goods.

    7 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: May 28, 2021

    I have leased multiple vehicles with Chevrolet, my most recent was financed through GM Financial. I drove the vehicle 12,000 miles under the mileage limit, took good care of the vehicle, regular inspections/services, etc. The vehicle had some minor damage upon return (scratched door, small crack in the rear bumper, etc) - nothing that would be deemed as MAJOR excessive damage. I even purchased a XS Wear warranty when leasing the vehicle to cover any accidental damage. GM Financial charged me a HUGE excessive charge amount, are in-flexible, and claimed the vehicle had a ton of damage. I have used other financial companies for my lease in the past and never had these issues, and returned a vehicle in similar conditions. Really dissatisfied with my experience with them and will NEVER lease a vehicle through GM Financial or Chevrolet again.

    4 people found this review helpful
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    GM Financial Company Information

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