Frequently Asked Questions
PAYMENTS
Q: Can my payment due date be changed to meet my pay period?
A: Yes, your due date can be changed at the time of purchase / lease to accommodate your pay period. Please inquire at the dealership before taking delivery. A fee may apply.
Q: Can I make arrangements to defer a payment?
A: Yes, if for more than 30 days, certain conditions apply and a fee is charged. Contact the GMAC Customer Service Centre toll free at 1-800-616-4622. Less than 30 days - Contact the GMAC Customer Service Centre toll free at 1-800-616-4622
Q: Can I change my due date after I have taken delivery?
A: Yes, however, a fee may apply. Please contact the GMAC Customer Service Centre toll free at 1-800-616-4622.
Q: How can I make my GMAC payment?
A: There are numerous ways to make a GMAC payment:
Pre-Authorized Plan Payment
A "VOID" cheque and an authorization form must be submitted (Credit Card or Line of Credit cheques cannot be submitted as a "VOID" )
Telephone Banking / PC Banking
GMAC is set up for Telephone and PC Banking with the following banks:
TD-Canada Trust
Royal Bank
Nova Scotia
CIBC
Bank of Montreal
Post-dated Cheques (maximum per mailing = 12 months)
Mail
Monthly to GMAC (do not include cash). A late penalty charge may apply if received after the due date. A payment coupon book can be issued upon request.
GM Dealer/Saturn Retailer
By cheque only. A late penalty charge may apply if received after the due date
Q: Can I make my monthly payment by Visa?
A: GMAC is not an authorized agent with any credit card company, therefore, we cannot accept payments by Visa, MasterCard, American Express, etc. Credit card cheques can be used for payments/buyouts.
Q: Where can I mail my payment?
Ontario and Eastern Provinces:
GMAC Payment Processing Centre
Box 4110
Agincourt, ON
M1S 5K4
AB, BC, Nunavut, MB, NT, Yukon:
GMAC Payment Processing Centre
Box 1717 Stn M
Calgary, AB
T2P 5B6
Quebec Province
GMAC Payment Processing Centre
CP Box 11464 Succ Centre-Ville
Montreal, QC
H3C 5M3
Q: How do I get set up with GMAC for PC or Telephone Banking?
A: Contact your banking institution for details.
Q: How many days do I need to stop a payment under the Pre-Authorized Payment Plan?
A: GMAC requires 48 business hours to stop or delay a pre-authorized payment.
Q: I’m on the Pre-Authorized Payment Plan, my payment was due yesterday, and I just found out that my payment was returned NSF by the bank. What should I do?
A: GMAC has arrangements with all banks to make a second attempt 2-3 days after the initial attempt.
Q: My due date is the 31st. When will my payment be deducted when the month has 30 days or less?
A: Your payment is deducted on the last day of the month (i.e. February 28th / 29th, April 30th).
LEASING
Q: Do all SmartLease transactions require a security deposit?
A: Yes.
Q: Can I return my leased vehicle early without it affecting my credit rating?
A: Yes, please refer to Choice #2 listed on the reverse of your lease agreement for complete details.
Q: Can I return my leased vehicle to any GM Dealer/Saturn Retailer at the end of my lease?
A: Yes, you can return your vehicle to any GM Dealer/Saturn Retailer in Canada.
Q: How can I find out more about my lease-end options and excess wear and tear?
A: Go to www.gmcanada.com/english/financing/gmac_lease_endoptions.html
Q: Can someone take over my lease?
A: Yes. The third party will need to complete a credit application. Please visit your GM Dealer / SSI Retailer to complete a credit application.
Q: Is there a fee to transfer a lease and when do I have to pay it?
A: A fee of $450.00 plus applicable taxes will apply upon approved credit.
Q: Is the transfer fee negotiable?
A: No.
Q: What does the transfer fee include?
A: The fee includes such costs as: PPSA fees, credit investigation, document preparation, Life/Disability cancellations, internal record modifications, mailings, insurance verification etc.
Q: I’m moving to the USA. Can I take my leased vehicle?
A: A Leased vehicle cannot be taken out of Canada. If a lessee is moving outside of Canada for more than 6 months, they must do one of the following:
Buy out the lease
Complete a Transfer of Lease Obligation (to someone living in Canada)
Have a dealer buy out the vehicle
Return the vehicle to a GM Dealer/SSI Retailer in Canada and pay all remaining payments, (Choice #2 on the reverse of lease agreement including excess km’s/wear and tear)
Q: Can I take my vehicle to Mexico?
A: No.
Mexico does not recognize Canadian/US Insurance
In Mexico, an auto accident is a criminal offense and the driver is subject to mandatory detainment (this criminal liability is not covered by insurance)
Q: Can a family member buy out my lease for the same price that I can?
A: Yes. Lessee price is applicable to the Lessee, Co-Lessee, or immediate family member. Immediate family members include: Parents, Spouse's Parents, Children, Son/Daughter-In-Law, Brother/Sister of Lessee, Brother/Sister of Spouse, Brother/Sister-In-Law, Step-Parents of Lessee, Step-Parents of Spouse, Step-Sibling of Lessee.
Q: If my lease is under a company name, who besides the company can buy the vehicle?
A: For a corporate lease, the buyout is applicable to the lessee, co-lessee, corporate officers, or the driver of the unit if he is identified in the Lease Agreement or lessee statement.
PRE-APPROVED CREDIT
Q: Can I be pre-approved for credit?
A: GMAC's pre-approved credit procedure is only available via the Internet. You can visit www.gmcanada.com, and log on into the My GM Canada section. For security reasons, you will be required to have a valid user name and a password. Click on the Express Credit link, then click on the Apply button at the bottom of the screen that is displayed. You may then apply online. Only individuals may apply, as we are unable to process joint applicants or businesses currently on this site. An applicant may apply only once in a 30-day period.
Q: How long does it take to obtain pre-approved credit?
A: Credit decisions are generally provided within 30 seconds.
If the system is unable to respond in that time frame, you will receive a message that a response will be forwarded within 24 hours.
Q: Why was I declined for pre-approved credit?
A: GMAC pre-approved credit decisions are based on credit information obtained from Equifax. Contact Equifax (1-800-465-7166) to obtain a copy of your credit rating. Your General Motors Dealer/Saturn Retailer will also have full details.
Q: Can I access my credit bureau records on line?
A: Yes. Go to www.econsumer.equifax.ca
Q: Are Pre-Approval Certificates transferable?
A: NO. Pre-approval certificates are only applicable to the individual approved and whose name is listed on the front of the certificate. They are not transferable to family members including spouse, children, friends, etc.
Q: Do GMAC Pre-approval Certificates have an expiry date?
A: YES. Pre-approval Certificates are valid for 90 days from date of issuance.
Q: What happens if my Pre-approval Certificate has expired?
A: The certificate becomes null and void. Dealerships must then complete a manual credit application on behalf of the customer and submit it to GMAC for consideration. The customer also has the option of re-applying online in hopes of obtaining another pre-approval from GMAC.
Q: What happens when I arrive at a dealership with my Pre-Approval Certificate?
A: A customer with a GMAC Pre-Approval Certificate is guaranteed credit up to the amount cited on the certificate, inclusive of taxes. As such, dealerships do not have to submit a secondary GMAC credit application for approval. Dealerships simply attach the customer’s original pre-approval certificate to the contract when submitting to GMAC. (Faxed copies/photocopies of these certificates are not acceptable.)
Q: What happens if my amount to finance is greater than the amount on the Pre-Approval Certificate?
A: Dealerships must complete a GMAC credit application on behalf of the customer and submit it to GMAC for reconsideration.
Q: What happens if I’ve lost my Pre-approval Certificate?
A: You can access your personal home page on www.gmcanada.com and print off a duplicate. The duplicate certificate will be honoured - as long as the original certificate has not already been redeemed.
Q: Are there any restrictions on eligible deliveries under the Pre-Approval Program?
A: Currently, the Express Credit Application can only be used to apply for credit to use towards the purchase or lease of a new vehicle.
MISCELLANEOUS
Q: What are your current finance/lease rates?
A: You must contact a General Motors Dealer/SSI Retailer for current rates and special programs, or call General Motors of Canada Limited toll free at 1-800-GM-DRIVE.
Q: Where can I go to pay off my lease or loan?
A: You can pay off your lease or loan at any General Motors Dealer/Saturn Retailer. An appointment may be required.
Q: Does the warranty run out if I pay off my lease or loan early?
A: No. However, for further details regarding your warranty, contact General Motors of Canada at 1-800-263-3777.
Q: Why does the PPSA letter state my lease is for four (4) years, when my Lease Agreement is for three (3) years?
A: The letter (not applicable in Quebec) is our PPSA (Personal Property Security Act) letter. We register a lien on your vehicle for an additional year to cover any extensions during the lease term.
Q: Can I use my GM TD Visa points (earnings) to buy out my guaranteed option to purchase price?
A: Your GM TD Visa points (earnings) can only be used to purchase or lease a new GM or Saturn Saab Isuzu vehicle. For more information, please contact TD Visa toll free at 1-800-461-3279.
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