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I need the number for the GMAC auto financing department to pay by telephone. I think it was/is called TruePay. I don't know the new number to pay by phone.
Try 1-800-200-4622
information-get.com I am sure your quest for Gmac Auto Loans
Considering a trade-in value of about $10,000, the remaining balance of the loan from GMAC will be about $3,000. Can this be rolled into a Toyota Financial Services auto loan?
Absolutely.. happens all the time. The Toyota dealer will pay off the GMAC loan and then secure the new amount financed through Toyota.
GMAC will provide you with a from to complete. They will ask for your bank name, account number and routing number. They will present your authorization to the bank and then be able to take your money electronically on the appointed date.
I really don't like those deals and would suggest that you consider a separate account that you deposit your payments into. Otherwise, if they make a mistake and take too much from your account, you will be fighting them to get it resolved. If all you have in the separate account is the amount of your payment (or a little extra), they won't be able to screw it up.
I have an auto loan with GMAC my payments are really high, how can I decrease my payments, is refinancing the answer and can I refinance with GMAC?
Have you tried searching on the net. There are a lot of lenders advertising here and you may find one that suits your circumstances. You might be looking at a consolidation loan.
My brother has a loan through GMAC for a car he just purchased this year. we have been hearing that it is very likely they will be going under if no help is given soon. So We would like to know what would happen to him and his loan for his car if they DO go under and no longer exist? Does the car become free and clear or would there be a transfer to another company to resume the payments with that company? any help would be appreciated!!! thanks
If GMAC goes under, someone will buy up their accounts receivables as this is an asset. Your brother won't get a free car. He will just make payments to someone else.
I have a perfect record with the lender and had purchased about7 months ago, long before this crisis began to develop. Although I know at the time I purchased it wouldn't be hard to get refinanced at a lower rate/payment, how has this recent activity hurt my chances? I haven't had an issue making the payments but I also am beginning to feel the crunch at my work with the lower amount of sales/volume. A lower payment would be nice.
The credit crunch has just made lenders a little more wary of high risk loans. If you are a top tier, you will have no issue refinancing. If you have some financial issues, it might be a little more difficult, but rates have not changed. The rules of the game haven't changed. There are tons of lending institutions that would be happy to help anyone lower their rates/payments. Just depends on the person.
Admin. plans $30B in bailout aid for small firms The Associated Press
WASHINGTON — The Obama administration is setting aside $30 billion from the financial bailout fund for a program designed to encourage lending to small businesses to aid the economic recovery.
An internal document obtained by The Associated Press spell out how the Treasury Department plans to spend money from the fund before it expires in October 2010. The document show $40 billion would go to consumer and business lending programs.
Of that amount, $30 billion would support lending to small companies, according to a Treasury official who spoke Friday on condition of anonymity because no final decisions on the program have been made.
President Barack Obama said in October that the administration would create an expanded business lending program but officials have had trouble finalizing the details.
Another Treasury official, who also spoke on condition of anonymity, said a range of options were still being considered and key members of Congress were being consulted. He said final decisions were not expected until next year.
News
Detroit Auto Bailout Could Cost $100B FOXBusiness- Feb 25, 2009
Detroit Auto Bailout Could Cost $100BFOXBusinessThe auto makers’ financial arms -- GMAC and Chrysler Financial -- have received an additional $7.5 billion in loans. The price tag for the Big 3 rescue will only rise from here as GM and Chrysler last week asked for another $22 billion, Ford (F) could- Feb 25, 2009
Another Lodi car dealer closesStockton Record, CAA GMAC spokesman said then that the company must make prudent financial decisions, and no amount of credit can sustain a dealership that is not selling enough cars. Stoller said that GMAC is continuing to make loans to dealerships at about the same- Feb 19, 2009
Bottom line: US auto industry says it needs $97.4 billion to liveDetroit Free Press, United StatesSo far, the federal government has provided the industry with $24.9 billion in assistance, including $17.4 billion in loans to GM and Chrysler, $6 billion to GMAC and $1.5 billion to Chrysler Financial. It has yet to approve loans for retooling,- Feb 19, 2009
Boston GlobeAutomakers Dismiss Bankruptcy; US Won’t Rule It OutBloombergThe auto companies “represent a huge part of our manufacturing base, and to have a strong and viable auto industry is tremendously important for the future.” GM outlined three scenarios for bankruptcy in a progress report required under federal loans. Video: GM, Chrysler Seek More Aid, to Cut More Jobs Today's Outrage: GM's $30 Billion Failure GM, Chrysler submit bailout plans to Congress
- Feb 18, 2009
GM: TALF no help due to AAA-rating requirementReutersWASHINGTON (Reuters) - Auto lender GMAC cannot access a special Federal Reserve lending program because it requires participants' securities to be AAA-rated, General Motors Corp told the US Treasury Department on Tuesday. The Fed's Term Asset-Backed
