Oshawa, Ontario – GM of Canada has announced a new national vehicle financing option, Smart Purchase, which will offer low monthly rates and the option to return the vehicle after 48 or 60 months.
Unlike a lease, the plan has no safety inspections, taxes or fees applied if customers choose to keep their vehicles, as ownership remains with the customer.
Smart Purchase is a term loan with competitive fixed rates for up to 84 months, and includes an option date to return the vehicle for sale at a predetermined buyback price, subject to a disposal fee and any excess wear or tear or kilometre charges. Option dates are available for 48 or 60 months. Customers can trade in their vehicles or continue at the initial payment amount for the remaining term of the contract; they can also pay down the outstanding balance, in full or in part, at any time.
The plan is available on all Chevrolet, Buick, GMC and Cadillac models.