Starting on the 1st of October GMAC will no longer have their Smartbuy program available, Smartlease will be the only “lease” option.
discuss…
Hasn’t smartbuy usually been more expensive since they brought back leasing in NY?
did you miss the leasing thread?
join the club
can someone explain to me the differences in smartbuy and smartlease. Im a Ford guy so RCO is all I know. But I did look into the 2 when I was considering a TBSS
it was created so the owner of the vehicle is the customer. After the term is over the car manufacturer has agreed to buy the car back or the customer can keep it with a ballon payment of X.
It was to get around a NY law that now really isn’t an issue.
William Muir, president of GMAC Financial Services, said leases accounted for about 18 percent of GM sales during the first six months of 2008, but GMAC expects that percentage to fall by half in the “very near term.”
+1
It came about because some scumbag lawyer managed to sue Ford after a drunk guy leasing an F150 killed someone. Because of some antiquated carriage law that was still on the books Ford was partially responsible as “owner” of the vehicle. I can’t remember if it was Pataki or the legislature but one of them snuck in the law’s repeal during one of those last minute budget passing sessions.
so basically no more GM leases in NY.
No they smartlease in NY now
so if smartbuy = a lease where you hold the papers
and
smartlease = a lease where GM holds the papers…
then
how is one any worse than the other for GM now that the old liability law problem is gone?
dave don’t worry we can both be angry
I won’t get a bonus this year and you won’t be leasing cars
LOL!! It’s so fucking true its scaring me.
General Motors Corp CFO: Says $2.8 billion second-quarter charge for Delphi Corp reflects “uncertainty” surrounding supplier’s bankruptcy emergence plans. Says automaker will continue to offer lease financing, costs will increase.
Well increasing the cost to an uncompetitive price is just as bad as killing it.