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GM Financial Auto Refinance Review


ConsumersAdvocate.org Rating: 3.5 / 5 (Very good)
17 Customer Comments & Reviews - see all comments
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Founded in 1992, GM Financial is the wholly owned finance subsidiary of General Motors. They offer loans for buying new GM vehicles from dealers, as well as lease buyout loans for purchasing leased GM cars. Buyers can apply for credit through their secure online application, which then submits loan information to the dealer of your choice.

How is GM Financial rated?

Breakdown

3.5/5
Loan Details
3.5/5
Customer Experience

Overall Rating: 3.5 / 5 (Very good)

GM Financial boasts an A+ rating from the BBB, as well as accreditation. Their simple and secure online application allows buyers to apply for credit and send the information to the GM dealer of their choice, which makes buying and financing a GM vehicle easier. However, there's little information online about loan application requirements and APRs offered, which means buyers are unable to predict if they will be approved or if the loan offer will be acceptable.

Auto Loans & Refinancing

Loan Details - 3.5 / 5

GM Financial offers financing in the form of purchase loans and lease buyouts—for customers who wish to buy the car at the end of the lease term, with amounts up to $125,000. This is fairly standard for the industry, as well as the loan terms, which range from 24 to 72 months.

Types of Loans Offered

Purchase Loans
Refinance Loans
Lease Buyout
Private Party Purchase

Purchase Loans

Max Loan Amount
$125,000
Term Length
24 months
Max Term Length
72 months

Loan Qualifications

Qualification - 3.5 / 5

GM Financial provides little information on its website about loan qualification requirements. Customers in the 50 states, as well as in Puerto Rico, American Samoa, Guam, and the U.S. Virgin Islands are able to apply. As with other captive lenders, financing is only available for GM vehicles, in this case Chevrolet, Buick, GMC, and Cadillac.

Vehicle Qualifications

Car Makes
Chevrolet, Buick, GMC, Cadillac

Application & Service

Customer Experience - 3.5 / 5

GM Financial has a secure online credit application which also submits the information to the dealership chosen by the buyer. Their website also has a loan payment calculator, as well as an "affordability calculator." This last tool is especially helpful to determine how much you can afford to borrow according to your monthly budget.
Fees
No Fees Specified
Benefits/ Features
Online Rates / Application
Joint Loans Available
Auto Loan Calculator

GM Financial Reputation & Reviews

Reputation - 3.5 / 5

GM Financial has an excellent business reputation. They are accredited by the BBB and enjoy an A+ rating, despite 62 negative reviews. A survey of online comments reveals most complaints revolve around poor customer service. However, financial analysis company IHS Markit says GM Financial led in manufacturer loyalty among captive lenders in 2016. This means people who had leased GM vehicles are more likely to lease another car with GM Financial.
BBB Rating
A+
Number of BBB Positive Reviews
7
Number of BBB Neutral Reviews
2
Number of BBB Negative Reviews
62
Date Collected
2017-05-22

Contact & Additional Information

Lender Type
Lender
Homepage URL
Company Phone
(817) 302-7000
Headquarters Address
801 Cherry Street Suite 3500, Fort Worth, TX, 76102
Year Founded
1992

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17 Customer Comments & Reviews

Loading Reviews ...
rlott0193
9/20/2022
Everything was great until I had to refinance the vehicle after my husband's death as my name was not on the title/loan. Refinancing was an easy process through another lending institution as GM Financial does not finance, "used," vehicles. Payoff was made in a timely manner and the title with a lien release letter came promptly. However, our county (Kentucky) needs an actual lien release form which I have been unable to get since July 29, 2022 (it is now September 20, 2022). I have tried numerous times to get the form and have been referred to a website that, once again, will send a lien release letter at a cost of $21. The financial institution I used has contacted GM Financial, the... Read More


Danielle C
8/24/2022
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!


T
Tom M
4/19/2021
Vehicle itself was great, issue occurred AFTER the vehicle in pristine condition and 20k less miles than lease allowance was checked in at dealership. It sat at the dealership for 45 days after I returned it, now I have a bill for excess wear and tear for a dent/ding that I did not cause. provided information for resolution to GM Financial, insisted they are legally allowed to charge (and due to their lease agreement and the BBB they are) So they can legally steal from a consumer, and refuse to acknowledge and resolve a complaint. Money and greed of this corporation are what they believe in. DO NOT use GM Financial, the online reviews are building for this type of scenario more and more.... Read More


L
Larry
3/22/2021
Unfortunately I can sympathize with with Dr J and the lag time of 7 weeks to receive to his title after the lease buyout. I’m going on 4 and a half months. Repeated phone calls for wait times ranged from 25 - 45 minutes. Yes I did make an attempt to correspond electronically and that got me a suggestion to call AGAIN. Was nevertheless informed the a third party company, hired by GM handled the titling process. Let me understand - they lease you a $40,000 automobile, you buy it out, and someone else closes the deal and they won’t tell you who. I wouldn’t use GM services again if financing was 0% with 0% down and 0 payments. The deal would go along with “I can’t afford free”, the... Read More


knw199576
10/1/2020
GM Financial (or it's representatives) does NOT care about consumers unfortunate situations during this pandemic. PERIOD!!!


B
Blake J
6/18/2020
Leased to buy 2017 Chevy Colorado Open road Springfield NJ . About 19,000 miles into lease noticed that truck was falling or slipping out of gear call Open to ask if I was driving in correct gear couldn’t get an answer. Was told to bring vehicle in was told twice after that nothing was wrong. Took vehicle to qualified transmission specialist told there was definitely something wrong . Bought truck In under instruction from GM financial complaints, head mechanic drove truck torque converter was bad . They put a different fluid in and told me drive it . I had 23,000 dollars of lease my salesman got in touch with me by phone . Told me that they wanted truck back me with four mos left on... Read More


Adam A
6/8/2020
your customer service is a joke! I made a payment and despite getting a confirmation email, neither Gm financial or my bank indicated a payment was processing. Two days later i receive a second email telling me my payment is past due. So I make a second payment. Today both payments have been taken from my account and I am being told it will be up to 30 days before I get it back! During a pandemic!!!


A
Alexis H
4/29/2020
I paid my car loan in full but they put charge off and refused to remove it. Go with a car company that actually cars about you as a person. This one doesn't.


D
Dr J
2/6/2020
When I paid cash to buyout my lease they did not release my title in timely fashion ( 7 weeks). This forced me to drive my vehicle illegally as the registration had expired. They promised to send title overnight and did not. I will never buy/lease another GM vehicle due to poor customer service !! Dr James R Sawyers Boston, MA


Kristy A
10/24/2019
GM Financial Auto Finance Department created an error and lost a payment, it took me months to clear. There were able reverse the charges, however when I asked to change the late dates because it is impacting my credit score they asked me for documentation. I've sent them to them multiple times, this is beyond unprofessional and frastrating. Disgraceful.



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