UPDATE May 2022: If GM Financial Owns Your Lease, Here’s What You NEED To Know

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UPDATED MAY 2022:

This GM policy, though intended to end in 2021, has remained in place into 2022.

We’ve updated with new information as of May 2022, including more specific data on used car prices, clarification on auto market forces, and information on steps GM lessees may take to get the most money for their GM vehicle as this policy remains in place.


Does GM Financial own your lease?

If you drive a Nissan, Infiniti, 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 lessees are no longer able to sell directly to other dealerships, Carvana, CarMax or even Get400More.com.

When first announced, this policy was intended to remain in place for the remainder of 2021. However, as of May 2022, GM still requires lessees to sell to GM dealers, due to historic used car shortages.

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.

Prior to the pandemic, your leased car did not have much, if any, equity.  Dealerships supplied their used car inventory with these cars on their lots.  In today’s market, 70% of leased cars have equity.  Around 90% of lease customers are buying back their cars.  This has drastically reduced used car inventory for dealerships. 


The semiconductor chip shortage severely impacted both consumers and automakers. As consumers began to stay home during the pandemic, automakers began to cut back on production of vehicles. More consumers needed laptops, cell phones and other electronic devices that used this same type of chip. When consumers started back to work and driving more, the chips were not readily available for 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.

Lessees may still benefit from the best offer on their used car.

Check the details of your lease agreement.  If you leased your car prior to the Pandemic, chances are you will be able to buy back your car for much less than the current market value of your car.  You can then either keep your car or sell it at today’s record high used car prices.  (Be sure to take the expenses into consideration when buying back your car, such as, title, registration, etc.)

The average price of used cars has increased as much as 40.5% from January 2021 to January 2022. Therefore, it is not the best time to buy a used car, but a great time to sell one. The market is upside down right now in car sales. Some 2020 and 2021 car, truck and SUV models are selling close to or some even higher than their sticker price when purchased.

Consumers want the most they can get for their used cars so they can afford the asking price for a new vehicle.  On average customers are paying $700 – $1,000 over MSRP.  For luxury vehicles, some customers are paying $3,000 – $5,000 over MSRP for a new car when they can find one to purchase.  It is difficult to know when this trend will begin to turn, but our advice is to sell your used car now if you are wanting the best price possible.

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.