# Oct 1st \>\> No more Smartbuys with GMAC **URL:** \ **Category:** NYSpeed Automotive\ **Created:** [July 31, 2008, 10:56am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457 "2008-07-31T10:56:02Z")\ **Posts on this page:** 14\ **Page:** 1
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [July 31, 2008, 10:56am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/1 "2008-07-31T10:56:02Z")
Starting on the 1st of October GMAC will no longer have their Smartbuy program available, Smartlease will be the only “lease” option. discuss… ---
**Author:** ![Joe](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/joe/32/7219_2.png) [@Joe](https://forums.speedlife.net/u/Joe)\ **Post date:** [July 31, 2008, 10:56am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/2 "2008-07-31T10:56:51Z")
Hasn’t smartbuy usually been more expensive since they brought back leasing in NY? ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [July 31, 2008, 11:00am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/3 "2008-07-31T11:00:52Z")
did you miss the leasing thread? join the club ---
**Author:** ![dreid](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/dreid/32/7388_2.png) [@dreid](https://forums.speedlife.net/u/dreid)\ **Post date:** [July 31, 2008, 11:04am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/4 "2008-07-31T11:04:09Z")
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 ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [July 31, 2008, 11:07am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/5 "2008-07-31T11:07:02Z")
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. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [July 31, 2008, 11:07am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/6 "2008-07-31T11:07:36Z")
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.” ---
**Author:** ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS)\ **Post date:** [July 31, 2008, 11:14am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/7 "2008-07-31T11:14:11Z")
> [@BigRon](#): > > 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. +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. ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [July 31, 2008, 11:24am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/8 "2008-07-31T11:24:57Z")
so basically no more GM leases in NY. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [July 31, 2008, 1:10pm UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/9 "2008-07-31T13:10:40Z")
> [@theblue](#): > > so basically no more GM leases in NY. No they smartlease in NY now ---
**Author:** ![theblue](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/theblue/32/5074_2.png) [@theblue](https://forums.speedlife.net/u/theblue)\ **Post date:** [July 31, 2008, 1:32pm UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/10 "2008-07-31T13:32:48Z")
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? ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [July 31, 2008, 2:12pm UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/11 "2008-07-31T14:12:35Z")
> [@BigRon](#): > > did you miss the leasing thread? > join the club yes, i did miss it apparently ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [July 31, 2008, 2:43pm UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/12 "2008-07-31T14:43:55Z")
dave don’t worry we can both be angry I won’t get a bonus this year and you won’t be leasing cars ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [July 31, 2008, 3:43pm UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/13 "2008-07-31T15:43:18Z")
> [@BigRon](#): > > 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. ---
**Author:** ![BigRon](https://avatars.discourse-cdn.com/v4/letter/b/58956e/32.png) [@BigRon](https://forums.speedlife.net/u/BigRon)\ **Post date:** [August 1, 2008, 5:38am UTC](https://forums.speedlife.net/t/oct-1st-no-more-smartbuys-with-gmac/52457/14 "2008-08-01T05:38:06Z")
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.