GMAC Offers Vehicle Leasing Option

DETROIT (PRNewswire) – GMAC Financial Services announced Monday, Aug.
10, that it will offer a leasing option for auto consumers on select
vehicles, including some models that are dinghy towable.

“GMAC’s increased funding flexibility, the completion of key
manufacturer restructurings and rising used car values have made leasing
a viable financing option,” said Bill Muir, GMAC president. “We will
support a lease promotion by General Motors in 45 states, and may add a
leasing option for other makes or models in the future. While we do not
expect leasing to return to its heyday levels across all models, it
remains an attractive financing tool for certain segments, particularly
new launch vehicles and select models in the luxury market. For the true
lease intender – someone who wants to rotate vehicles more frequently
without the need for trade-in or resale – GMAC’s new lease program is a
great financing alternative.”

As GMAC diversifies its customer base, the return to leasing aligns
with the company’s intent to be a full-service automotive finance
company, providing a range of wholesale, retail, remarketing and
insurance products for dealers and customers.

“GMAC is part of the solution to stimulate the rebound in the auto
industry,” Muir said. “We have credit to make available, and want to put
it to good use for qualified customers. We encourage people to visit a
dealer and discuss financing options, as GMAC is reviewing credit
applications from a broad spectrum of buyers.”

The leasing program to be initially offered covers the following models:

2009 Models: Cadillac CTS, Chevrolet Malibu, Chevrolet Traverse

2010 Models: Buick Enclave, Buick LaCrosse, Chevrolet Equinox, GMC Acadia

The Malibu and Traverse are manufacturer-approved for dinghy towing.

In addition, GMAC Insurance will offer SmartLease Protect, which
provides limited coverage of up to $5,000 for excess wear and tear on
leased vehicles and waives the customer’s security deposit. Interested
customers should see their GM dealer for details.

States excluded from this GMAC lease program are Ohio, Michigan,
New York, Connecticut and New Jersey, as an existing program is under
way in these markets.

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