Does GM Financial own your lease?
If you drive a Nissan, Honda, Ford, or GM vehicle, ending your lease is now subject to stricter conditions.
Effective July 1, 2021, General Motors began a new policy that allows only GM dealers (Buick, Cadillac, Chevrolet, and GMC) the opportunity to buy GM lessees vehicles.
Previously, lessees of GM Financial were able to sell their vehicles to the highest bidder, then allow the new owner to pay off the lease. This is no longer the case.
GM’s new policy means if you lease a vehicle through GM Financial, you now have no option but to sell back to GM if you want to end your lease.
The semiconductor chip shortage severely impacted both consumers and automakers. Record low supply of both new and used vehicles has pushed used car prices sky high. It’s a seller’s market for used cars, and GM customers don’t want to miss out.
What effect will this new rule from GM have on the market?
GM now has total control over sale prices on their used vehicles.
Consumers will have no option to shop around and get the best offer from companies like Get400More.com and our More Money Guarantee. This allows for GM dealers to increase their inventory of used cars for their brand dealerships. Similar policies have also been implemented by the Honda Motor Company, the Ford Motor Company, and Nissan/Infiniti.
It’s not all bad news for GM customers.
If you are ready to sell your vehicle but find yourself unsure of what steps to take, reach out to Get400More.com today.
We are here to support our customers in every way possible by exploring the best options that are unique to their situation.
Contact us and we are more than happy to explain what we can do to help you get all the money you deserve for your used car, truck or SUV.