General Motors of Canada Limited

General Motors of Canada Limited

September 24, 2010 09:52 ET

Chevrolet-Buick-GMC-Cadillac to Offer Industry-First National "Smart Purchase" Finance Option

OSHAWA, ONTARIO--(Marketwire - Sept. 24, 2010) - In order to better serve its customers, GM of Canada announced today an industry-first national vehicle financing option called Smart Purchase. Through a flexible approach that combines benefits from the spectrum of financing options available to customers, Smart Purchase will offer low monthly rates and the option to return the vehicle after 48 or 60 months. 

"Smart Purchase is an innovative alternative that provides the benefits of vehicle ownership to those customers looking for affordable payments and maximum flexibility," said Kevin Williams, president and managing director of GM of Canada. "By rethinking the way we traditionally do business, we are able to provide the best possible ownership experience for customers."

Building upon retail sales growth of 34 percent calendar-year-to-date, Smart Purchase better enables Chevrolet, Buick, GMC, and Cadillac to reach a significant segment of customers searching for vehicle ownership solutions within their means, or searching for the ability to drive a new vehicle more often. Unlike a lease, there are no safety inspections, taxes, or fees applied if customers choose to keep their vehicles, as ownership remains with the customer.

Smart Purchase is a term loan with competitive fixed rates for up to 84 months. In addition to low monthly payments, customers will have an option date to return the vehicle for sale to Ally at a pre-determined buyback price, subject to a disposal fee and any excess wear and tear or kilometer charges. There are two option dates available – month 48 or month 60. Alternatively, customers can trade in their vehicle or continue at the initial payment amount for the remaining term of the contract. Customers can also pay down the outstanding balance, in full or in part, at any time.

Available on all Chevrolet, Buick, GMC, and Cadillac models, Smart Purchase is one of the most customer friendly vehicle national financing options available in Canada, offered exclusively through Ally to eligible customers. Combined with GM's Canada Wide Clearance, now is a great time to visit a Chevrolet, Buick, GMC or Cadillac showroom to check out GM's leading range of award-winning, high-quality, fuel-efficient vehicles.

About General Motors of Canada Limited

Headquartered in Oshawa, Ontario, General Motors of Canada Limited (GMCL) employs over 9,000 people across the country and is a recognized leader in green manufacturing. GMCL markets the full range of fuel-efficient Chevrolet, Buick, GMC and Cadillac vehicles and related services through Canada's largest automotive dealer network, which employs over 23,000 people dedicated to delivering a top customer experience. GMCL also plays a leadership role in automotive design and engineering, engaging in innovative research and development partnerships with leading Canadian universities and research institutes. In addition, through its Canadian Engineering Centres, GMCL conducts development activities ranging from cold weather testing to the advancement of key electric vehicle and green technologies.

Contact Information

  • GM Canada
    Jason Easton