www.gmacfs.com

When you visit the home page of GMAC- a global finance company which is a subsidiary of General Motors Corp, the first impression might be the world map in the center that informs you where on earth they run a business. You can’t help thinking that their business is really widely spread in so many countries spanning the globe.  Specializing in automotive finance, real estate finance, insurance, commercial finance and online banking which serves individuals, business customers and dealers now, GMAC was first established to provide GM dealers with the financing necessary to acquire and maintain vehicle inventories and to help customers finance vehicle purchases. Its products and services have spanned significantly and now the automotive finance, real estate finance, insurance are its 3 major businesses. Here I would like to introduce several featured services and products for individual customers.

Global Automotive Finance
With support from GM, GMAC has one of the largest automotive financing operation all over the world. GMAC and GM are devoted to help customers have a GM vehicle that meets their need and within their budget.
Own a car
If you prefer to possess a new car so that you have complete ownership over it, no restraints on mileage or wear and can sell it or trade for a new GM vehicle any time you want, traditional vehicle financing program can help you to find the best fit for your budget and need. Usually length of financing available depends on your creditworthiness and value of the vehicle you buy, and can be negotiated with the GM dealer. The contract details that should be negotiated include: the financed amount, the annual percentage rate, finance charge and other terms and conditions such as down payment, monthly payment and number of payments.
Regarding how the payment would be transferred, GMAC provides ‘GMAC Direct Pay’, which costs you least inconvenience here. Your payment is automatically transferred from your checking or savings account to your GMAC account every month on the payment due date. All you have to do is to sign up for this payment option at the retailer or online. Practical issues such as what you should do if you have changed a bank or if you want to change a due date can be found on the Q&A session on the web page of ‘Payment Option’ which is a link beneath ‘Vehicle Financing’.

Rent a vehicle:
If you just want to drive the best car with the limited money you have, rent a car would be a better choice than buying one. GMAC provides SmartLease program, which help you to put yourself in the driver’s seat while charging you a lower monthly payments, causing no resale or trade-in headaches and arranging everything fast and conveniently.
With SmartLease, you pay only a proportion of the total price of the vehicle as depreciation plus a rent charge, taxes and fees. Another option would be SmartLease Plus which provides all the great benefits of SmartLease without the monthly payments.
One important issue regarding a rented car would be the mileage-how many miles it has run-which directly influences the amount you have to pay for the rent. GMAC enables you to choose from 12,000 or 15,000 miles per year according to your driving needs. If more is needed, a clarification at the beginning of your contract would be necessary to avoid excess mileage charges later. If fewer than 12,000, you can have a lower monthly payment .
Another important issue would be the standard of defining an excess wear. To this end, a pdf of ‘Excess Wear Square’ is available on the upper-right corner of the webpage where you can find information about vehicle SmartLease lease mileage options.

Personal investment
Besides the global spanning automotive finance business, GMAC also provides demand notes and smart notes for individual investors to invest funds directly with GMAC.
Demand notes:
An unsecured debt obligation of GMAC. It is neither a money market fund nor a bank account and is not FDIC insured. Demand Notes are offered in the U. S. by prospectus only. As a compensation of the risk involved, GMAC demand notes pay a favourable rate of return, with a daily compounded floating interest rate. Also you have the right to write checks with no limit and for free.
The risk of the demand notes is explicitly stated in the ‘prospectus’ in bold character, which warns the prospective investors of the high risk involved here, and ask them to consider the situation seriously before making investment decisions.
SmartNotes
They are medium term notes that typically offer fixed, floating and step rate structures with a variety of payment options and maturities (from 9 months to 30 years). Also, the notes are callable and therefore may be subject to redemption or repayment.
For business customers, securitization and commercial paper are also available besides these 2 kinds of notes.

In general, GMAC is a global finance company that provides featured simple and smart financial products and services to its customers. If you want to know more about this outstanding cooperation, a visit to its web page www.gmacfs.com would be recommended. All information are presented in an organized way, and it’s easy to find what you are interested in link by link.