Financing is available through GMAC Smart
programs. Whether you are looking to purchase or lease a vehicle, GMAC will
be able to assist you. Read the information below, and then click the link to receive a rate
quote online. Please feel free to call us with any questions you
may have at (812) 663-6621 or email us at
FinancingDept@alreynolds.com
and one of our expert finance staff members
will assist you.
Traditional Retail Financing
What is traditional
retail financing?
Traditional retail financing is an installment sale transaction between you
and your dealer whereby you agree to pay the amount financed, plus an agreed
upon finance charge, over a period of time.
How do you know
if traditional retail financing is right for you?
Generally, if you plan to drive your vehicle for more than just a few years,
you consistently drive well over 15,000 miles a year, you plan to alter the
vehicle's appearance or you feel more comfortable with the idea of "owning"
a vehicle, traditional financing is probably right for you.
How does traditional
retail financing compare to leasing?
Leasing is a financing option that lets you pay for the portion of a vehicle
you expect to use over a specified term, plus a rent charge, taxes and fees.
For example: You might want a $20,000 vehicle. And that vehicle might be
worth about $9,000 at the end of your lease (residual value). If you purchase
the vehicle using traditional retail financing, your monthly payments will
be based on the entire $20,000 value of the vehicle plus a finance charge
and you will own the vehicle at the end of your financing term. However,
if you lease the same vehicle, your monthly payments will be based on the
amount of the vehicle you expect to "use up" over the lease term plus a rent
charge, taxes and fees. This value ($11,000 in our example) is the difference
between the original cost ($20,000) and the estimated value at lease end
($9,000). With leasing you can get low monthly payments, a new vehicle more
often, more vehicle for the money and no resale or trade-in hassles. Keep
in mind, with leasing you do not own the vehicle, you return it to your dealer
at lease end unless you choose to exercise the purchase option as defined
in your lease agreement.
Where do you
go for traditional retail financing?
Most banks, credit unions and automotive financing companies offer traditional
retail financing. GMAC traditional retail financing is conveniently available
right at Al Reynolds!
What is GMAC?
We are a family of companies ready to help customers with a range
of needs: financing a vehicle; selling a house; getting a mortgage;
purchasing insurance -- for our business customers and commercial
lending.
We have
been on the job since 1919 when GMAC provided the financial support to
GM dealers who needed to fill their lots with vehicles and to GM
customers eager for motorized personal transportation. Today, we serve
you in 40 countries at over 700 locations.
CLICK HERE TO BEGIN THE FINANCE APPLICATION
