GMAC INTRODUCES SMARTBUY -- A NEW FINANCING ALTERNATIVE
GMAC INTRODUCES SMARTBUY -- A NEW FINANCING ALTERNATIVE DETROIT, April 23 /PRNewswire/ -- GMAC Financial Services introduces
SMARTBUY, an alternate way to own a new General Motors car or truck, beginning April 24. SMARTBUY is a new vehicle purchase plan that combines the security of vehicle ownership with low regular monthly payments, shorter contract terms, and flexible contract options, including easy vehicle disposal.
"With SMARTBUY, qualified buyers can enjoy the low regular monthly payments and shorter terms usually found only in leasing, plus the pride of vehicle ownership as with conventional financing," explained F. Joseph McPartlin, director of SMARTBUY and retail leasing for GMAC. "Benefits like these can help consumers drive a new GM vehicle more often or drive more vehicle for their money," he added. At the end of a SMARTBUY finance contract, the customer makes a final payment, which is determined at the time of purchase and approximates the expected value of the vehicle at contract end. Customers have several options for meeting this obligation: they can make the final payment and keep the vehicle; refinance at the same regular monthly amount; or, with 30-day advance written notice to GMAC, simply turn the vehicle in to the dealer and pay a $250 disposal fee plus any charges for excess mileage or wear and use. "Along with conventional GMAC financing and SMARTLEASE, SMARTBUY gives consumers another affordable option to help them drive home a great new GM car or truck," McPartlin said. -0- 4/23/92 /CONTACT: Lynda A. Kosinski of GMAC, 313-556-1022/ (GM) CO: General a1788 ....lr f bc-Lubrizol-Restructure **** REPEAT ****
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|Date:||Apr 23, 1992|
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