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GM Financial

GM Financial

 3.3/5 (282 ratings)
  • 5 stars
  • 4 stars
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  • 1 stars

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?
  • 3,524,007 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: Jan. 11, 2022

I am extremely unhappy with Chevrolet and GM Financial. In May 2021 I financed a Chevy Bolt 2021 in the Chevy in Mt. Kisco, New York. Not knowing much about electric vehicles I asked about them and the salesperson told me that there's a lot of chargers in every city and only takes a 20 minutes to get a full charge, which is not true takes way longer than that. My city only has ONE supercharger and it never works so this car has been a big inconvenience for me because there's nowhere for me to charge it. I tried to return it a few days later and got turned away.

For months I tried reaching out to Chevy and GM financial through various calls and emails.. When the recall for the Chevy Bolt came out I used that as a opportunity to try to find find resolution with the vehicle by reaching out to GM financial yet again and again to no avail. I had no choice but to trade it in to another dealership in September because I had nowhere to charge the car and couldn't drive it, still had to make payments obviously so my hand was forced. Just got a call from customer service saying they were going to compensate me for the recalled vehicle I had but because I traded it they can't anymore. Now I'm 8k down in negative equity/debt.

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Rated with 1 star
Verified Reviewer
Original review: Dec. 21, 2021

I would give them a zero star if there was such a choice. I made three lease extension payments after my recent lease end and my lease only extended two months, I have contacted them about this issue four times over the past eight days and it is still not fixed. I have been on hold for over 90 minutes this morning and still was not able to reach anyone. I also noticed they have disabled the "submitting a complaint button" on their website, my suspicion is that they probably received an overwhelming amount of complaints for their subpar service.

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    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 20, 2021

    Refused to refund my money back to my card after constantly sending reminders my payment is due and the app does NOT show my payment processing or paid after making another payment. Customer service advised it would take GM 3-4 days to decide if they would refund one of my 2 payments... 10 days until I receive a payment. I feel they scam their customers right at Christmas!

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    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 17, 2021

    It's one of the worst businesses ever. In my case, I'm on a monthly extension after a 36-month lease. I prepaid the entire lease based on a total amount deal I made with the dealer. So, I never know what my monthly payment should have been for the 36-month lease. GM Financial never sent me any statement stating what my monthly extension would cost. When I called or used the online chat, I always got a different amount. It seems that each one of them calculated the amount manually and ended with a different number. Very frustrating (especially after hours on the phone over many calls). They all should get an F in their math.

    The MyAccount website shows a completely wrong amount due. When I asked the chat bot, it responded that the amount was due on 12/31/9999. Whoa? When I complained about this inaccuracy on the website, an agent said that he couldn't see what I saw, and asked me to fax (yes, to fax) a printout of the screen. Are they stuck in the 1990s? What a ridiculously inept company!

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    Rated with 1 star
    Verified Reviewer
    Original review: Dec. 14, 2021

    I leased a car for 39 months through GM, then bought it in Feb 2020. I paid off my loan in full, and they never released the lien on the car with the Secretary of State. Didn't take any ownership or responsibility for their error and as a result I was ticketed for expired registration because they never released the lien on my car. Was on hold an average of 40 minutes every time I called until I finally gave up. They messed up majorly, and then dodged the fact it was their fault. 7 hours of my day, and multiple places being on hold. Will never use them again. 6 year olds know how to take responsibility when they've done something wrong...but corporate America? Forget it. GM, you've gotten too big for your britches and you've lost site of the objective. Pat yourselves on the back, and adjust your pants...you've done nothing to earn it.

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    Rated with 1 star
    Verified Reviewer
    Original review: Nov. 21, 2021

    This company is a scam. They charged me (automatic credit card charge) after my car insurance PAID IN FULL for the total loss. Such a disgusting experience with GM Financial. Will never recommend them to anyone!!

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    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!

    3 people found this review helpful
    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.

    2 people found this review helpful
    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.

    4 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.

    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