GM Financial Review

GM Financial is offered by General Motors Financial Company, Inc., a financial services company founded in 1992 and based in Fort Worth, TX. GM Financial is available in 50 states (and Washington, DC).

How much can you borrow via GM financial?

GM financial loan amounts start at $7,500 and go up to $125,000.

What APR does GM financial offer on its car loans?

GM financial offers a fixed APR car loan product that ranges from 1.9% APR up to 19.9% APR.

Your APR can vary depending on several factors, such as your credit score. Find out what your credit score is and whether there is any false or inaccurate information in your credit history with these credit monitoring tools.

What is the maximum auto loan term you can get with GM financial?

GM financial has car loans with a maximum term of 72 months. Having the option of longer terms allows borrowers to take on larger auto loan amounts while keeping monthly payments more affordable. However, the longer the term of your car loan, the more interest you will pay.

Does GM financial charge an origination fee?

Yes, GM financial may charge a loan origination fee.

Does GM financial charge a late fee?

Yes, GM financial charges borrowers with a late payment penatly fee

Does GM financial charge prepayment fees?

Yes, GM financial does charge borrowers a fee if they pay their loans early. Consider prepayment fees when you choose a lender because prepayment can reduce or even cancel the interest savings of repaying a loan early.

Can I pay off early my GM financial loan?

Yes, you can. However, GM financial charges a prepayment fee if you pay your car loan early. This fee could reduce or eliminate the savings from paying the car loan early.

What do you need to qualify for GM Financial?

Applicants with a credit score of at least 550 and up to 850 may be eligible for GM Financial. The minimum age to be eligible is 18 or the state minimum, whichever is higher.

GM Financial does not have or does not disclose a minimum annual income eligibility requirement. GM Financial only considers borrowers who are employed. Note that borrowers can add a cosigner to either meet eligibility requirements or qualify for lower interest rates.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. Active duty service members and their covered dependents are eligible to apply for a loan via GM Financial. Their rates fall within the limits of The Military Lending Act.

Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Recent pay stubs
• Driver's license
• Proof of citizenship or residence permit

What is the estimated funding time for a car loan via GM financial?

GM financial will typically fund the car loan within 7 business days of approval.

Does GM Financial report your account activity to credit bureaus?

Yes, GM Financial reports your account activity to the following credit reporting agencies:

• Equifax
• Experian
• Transunion

Making regular on-time payments to a creditor that reports to one or more credit bureaus will demonstrate your financial responsibility and may help improve your credit.