Commercial Services Group FAQ
Have a question not answered here? Feel free to contact one of our Commercial Lending Specialists.
What is a GMAC Commercial Credit Line?
How do I know if it's right for my customer's business?
How long does it take to establish a GMAC Commercial Credit Line?
What is required to obtain a GMAC Commercial Credit line?
What types of vehicles can the customer acquire with the GMAC Commercial Credit line?
Will the Commercial credit line cover vehicle upfits?
What would be the dollar amount of the GMAC Commercial Credit Line?
What interest rates are available?
Who do I contact at GMAC about commercial credit lines for my customer?
Q: What is a GMAC Commercial Credit Line?
A: A GMAC Commercial Credit line is a convenient and simple way to build a Commercial fleet. It allows qualified businesses the flexibility to finance additional Commercial vehicles. A GMAC Commercial Credit line is fast, easy and, most of all, convenient.
Q: How do I know if it's right for my customer's business?
A: If your customer would like to establish a credit line specifically for commercial vehicles, then a GMAC Commercial Credit line is right for their business. Once they're approved, the Commercial vehicle financing needs are handled.
Top
Q: How long does it take to establish a GMAC Commercial Credit Line?
A: For qualified businesses, the entire credit approval process can take as little as two business days. In complex cases, the transaction may take longer.
Q: What is required to obtain a GMAC Commercial Credit line?
A: It varies from business to business. Begin by filling out an application form and submitting to GMAC.
Q: What types of vehicles can the customer acquire with the GMAC Commercial Credit line?
A: Any vehicle sold by a GMAC approved dealership. GMAC reserves the right to review each transaction based on its normal approval guidelines.
Top
Q: Will the Commercial credit line cover vehicle upfits?
A: Yes, provided the conversion is installed by an approved vehicle upfitter. With GMAC, the customer can finance the vehicle and upfit through the same source. It's "one-stop shopping" - another way GMAC offers customers greater convenience.
Q: What would be the dollar amount of the GMAC Commercial Credit Line?
A: The dollar amount established is based on several factors, including the commercial credit rating, trade reference reports, financial trends and most importantly, the vehicle requirements. Whatever the need, GMAC will work to personalize a solution that's right for the company.
Top
Q: What interest rates are available?
A: GMAC purchase finance rates vary throughout the year. By financing with GMAC the company may be eligible for special advertised rates and programs that are offered by the manufacturer from time to time.
Q: How long is the term?
A: A GMAC Commercial Credit Line remains in effect for one year from the date of issue and renewed annually.**
Top
Q: Who do I contact at GMAC about commercial credit lines for my customer?
A: Contact your local GMAC Sales Specialist or GMAC office.
*Changes to the initial amount of the GMAC Commercial Credit Line may require additional documentation.
**GMAC reserves the right to perform reviews to determine continued eligibility for a GMAC Commercial Credit Line. Individual retail finance accounts are subject to the terms of each contract, and are not affected by a credit line that has expired and/or been extended.
