GM Financial

GM Financial

 3.7/5 (275 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
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  • 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?
  • 4,133,178 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: Nov. 29, 2022

DO NOT GET A LOAN WITH THIS COMPANY! THEY ARE CROOKS! Last May my sister passed away and left her vehicle to my daughter. She had a car loan through this company. My sister’s death occurred in the vehicle so it has been in the possession of a car insurance company and repair shop for the past 6 months. During this time, I have been trying to contact GM to inquire about the loan, (how much payments are, where to send payment, etc). They have refused to talk to me despite receiving the paperwork they demanded I provide proving that I have authorization to do so (Death Certificate, Probate Forms, Authorization from the Executor of the Estate, etc).

Similarly, they have repeatedly refused to speak with the Executor of the Estate claiming they “don’t have the necessary documents.” We have emails, fax confirmations, and phone call records that prove otherwise. As we have been actively trying to speak with someone regarding the loan so we can make payments on the vehicle, GM Financial STOLE the vehicle from the repair shop (which was still undergoing repairs), claiming WE broke the “agreement.” We did/are doing everything in our power to speak with someone at the company about the loan but they continue to refuse to speak with us. Hours and hours on hold, lies, and zero communication are what you will encounter if you take out a loan with this company. STAY AWAY!

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

Worst financial company I have ever dealt with! I was instructed not to make a final payment on my lease because the dealership would make that payment so I did as instructed. GM Financial then reported a late payment to the credit bureau. Even after I called them to get this corrected they refused!

2 people found this review helpful

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

    I got stuck with this company thru Victorville Chevy. I was badly burned on a new car purchase. Lost approx $11k on a KBB instant cash offer. I was blindsided and with my Fico score of 790 I got 6.39% with GM. In fact the dealer told GM he doesn't know me & has no record of me while I was on hold with GM. Then I received details from GM on my loan the next day. My contract has numerous bogus charges to boot. Now I am reading all the negative reviews on this company and I am convinced GM, Chevy & KBB have an egregious fraud & deceptive sting operation going. I am devastated by it all. I can't seem to get any resolve with this. If I were a wealthy person and could afford this reception great! Newsflash, I am not!

    3 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 5, 2022

    I called GM Financial to verify my payoff amount, make my last payment, and update my address for my title. The first person that I spoke with said they could not hear me. I asked to be transferred, she told me to call back. I called back. The 2nd person that I spoke with put me on hold for several minutes, said that she had to take another call while helping me. I asked to speak with a department supervisor. After placing me on hold for over 5 minutes, she told me that no one was available. She then transferred me to leave a voicemail, I left one.

    After 5 hours of no return call, I attempted to use the chat feature. I was even transferred in the chat only to be told that no one can call me and that I should call in. I did. I was eventually transferred to a supervisor who told me that none of this was her job and that there were only 2 supervisors and they had been in meetings all day. She was unable to help me or find someone to transfer me to. A customer service rep named Robbie called back and he was put in a pretty bad position by the ‘unavailable supervisor’ team. He was helpful and I was able to get the very simple tasks that I needed done completed. The level of poor customer service that it took to get to Robbie was shocking. The zero ownership by the supervisor that I spoke with was even more shocking. A small amount of ownership, empathy, and accountability goes a long way. I will definitely reject GM financial as a lender when I go to buy another car.

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

    Sit on hold for hours & still not reach a person. Virtual communication options says to call the dealer or the customer service line which nobody answers. Just want a lease payoff figure & am directed to go to the dealer who in turn wants to add additional fees. Then when try to file complaint online I'm prompted with "complaint can't be submitted. Please call customer experience" which is the same number I've been trying which prompted reason for complaint.

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

    I am trying to purchase my leased Chevy truck after paying my last lease payment. Financial organizations require a (copy) of the title. I called 4 times so far as well as used live chat and had my credit union call as well. All for not. We have been told the copy was faxed twice when it wasn't, then were told I had to request it to the credit union when they called and I was told the credit union had to request it. The latest call said we both have to be on the phone to request it. I have had 2 dropped calls after waiting 45 mins on the phone and been told they would call me back and they didn't.

    My last call, I asked to speak to a manager and was told they couldn't but would have a supervisor handle the escalation and they would call me back within 24hrs. That call never came. I have 5 days left to purchase my truck so will now need go to a dealer for help, even though I shouldn't have had to do that. Absolutely poorly trained customer service reps with no access for complaints. I will NEVER use GM Finance again and would encourage others never to as well.

    4 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 6, 2022

    I have no idea how a company in 2022 how a company is:

    1. not able to provide a detailed bill of sale which details how much tax is paid,
    2. not able to send an e-mail with this information,

    3. have every supervisor in a meeting at the same time.

    5 people found this review helpful
    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.

    2 people found this review helpful
    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.

    4 people found this review helpful
    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.

    3 people found this review helpful
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    GM Financial Company Information

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