2024 GMC Financing Deals
Chloe Della Costa is a freelance copy editor and writer with a degree from Bard College. She specializes in copy editing and fact-checking content related to personal finance, insurance, and business.
 | Starting APR 0.00% | Loan terms 36-72 months |
GM Financial is a subsidiary of General Motors and offers financing for the very wide range of available GM vehicles, from Buick and Cadillac to Chevrolet and GMC. All GM dealerships have access to GM Financial, as do authorized resellers.
In addition to a wide range of financing options, GMC financing offers special discounts for a number of groups, from GM families, suppliers and dealers to first responders and military personnel.
While GM Financial may not always have the lowest headline rate, from time to time you can score a 0.00% promotional rate, or a particular deal based on where you live, the type of vehicle you’re buying or your status as a member of a special group.
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GMC financing options
Buying a GMC
Unlike many online lenders, GMC doesn’t publish a simple schedule of loan terms and amounts. There is no set APR range available for review. To learn about the rates and terms you may qualify for, you’ll have to contact your local GMC dealer. Use an auto loan calculator to estimate your monthly payment and understand whether a new GMC can fit into your budget.
Like other automakers, GMC regularly offers special financing deals, with low or 0.00% APR financing or cash-back offers. These are subject to change at any time, so if you’re shopping for a GMC vehicle, you should check current offers regularly. The best deals are typically reserved for “well-qualified buyers.” Borrowers with a credit score of 620 or above are typically eligible for GM financing, though certain dealers may sometimes work with subprime borrowers.
Leasing a GMC
For drivers who like to get behind the wheel of a new vehicle every few years, leasing a car can be an attractive option. In addition to purchase deals, GMC regularly offers lease deals as well. Many GMC leases come with a $0 security deposit, but you’ll need to put some money down at signing.
GMC customers can apply for lease terms between 24 and 48 months and mileage options of 10,000 to 15,000 miles per year. When your lease term ends, you can either return the vehicle or purchase it outright for the price determined at signing.
GMC financing pros and cons
GM Financial offers good promotional offers for qualified buyers, but like with any loan product, it’s important to weigh the pros and cons before signing on the dotted line. In fact, the auto financing industry is quite competitive, and you’ll likely have numerous options available. By filling out a single form with LendingTree, you may receive up to five auto loan offers from lenders.
| Pros | Cons |
|---|---|
Convenience of handling both financing and car buying in one place Ability to get prequalified online Special lease and finance offers for qualifying first responders, military and certain other groups Occasional promotional rates as low as 0.00% | Nonpromotional APR may be higher than at independent lenders Some of the lowest rates require a short 36-month loan Interest rates and special offers vary by dealership |
A closer look at GMC financing
GMC offers a few special deals for qualifying individuals, many of which are stackable:
- GM Family First: Employee discounts for eligible GM employees and family members.
- Supplier discount: Similar to the Family First offer, provides discounts for eligible employees of GM supplier companies.
- GMC loyalty: Some dealerships offer a cash discount, often $750, for current GMC owners or lessees, though this loyalty discount is often not available in conjunction with other special offers.
- First responders: $500 off select Chevrolet, Buick and GMC models, or $1,000 off select Cadillac vehicles, for qualifying first responders.
- Military: Similarly, the military discount offers $500 off select Chevrolet, Buick and GMC models, or $1,000 off select Cadillac vehicles, for eligible military personnel.
- Educators: School employees are entitled to $500 off select Chevrolet and Cadillac vehicles.
- College grads: If you’re a college student, recent graduate or graduate student, you can qualify for $500 off select Chevrolet vehicles.
Certified pre-owned vehicles
Like most automakers, GMC offers certified pre-owned (CPO) vehicles for shoppers who want the reliability of a new car at a lower cost. CPO vehicles from GMC have to pass a 172-point inspection process and are reconditioned to factory standards. Additionally, all CPOs come with a 12-month/12,000-mile bumper-to-bumper warranty, one of the most comprehensive in the industry, as well as a 6-year/100,000-mile powertrain warranty and roadside assistance.
Learn more about requirements and steps for how to get a car loan.
How to apply for financing through GMC
One of the advantages that GMC offers is the ability to get prequalified for an auto loan online, before you ever set foot in a dealership. This can save lots of time and hassle, which is important because when you buy a car at a dealership you can often be there all day. To start a prequalification application, you’ll need to provide the following information:
- Your choice of vehicle
- Your choice of dealer
- Personal information, such as name, date of birth and Social Security number
- Your housing information
- Your income
This prequalification step won’t impact your credit, but if you decide to proceed with the financing application, you’ll have to submit to a hard credit inquiry, which can cause your score to drop by a few points.
How GMC financing compares
Vehicle financing is a very competitive industry. Although dealer financing is convenient, you may not be getting the best terms on your loan, especially when compared with other options. Here’s how the terms of a GMC auto loan compare with those from Ford and LightStream.
| GMC | Ford | LightStream | |
|---|---|---|---|
| Starting APR | 0.00% | 0.00% | 7.49% |
| Terms | 36-72 months | 12-84 months | 24-84 months |
| Amount | $7,500-$125,000 | Not disclosed | $5,000-$100,000 |
| Min. credit score | 620 | Not disclosed | Good credit |
Frequently asked questions
Yes, GMC does sometimes offer a promotional 0% APR on its vehicles. However, this offer is most likely to be available during a time when general interest rates are lower, and it’s often offered for select vehicles only. Generally, you won’t be able to get 0% on the hottest vehicles on the lot — but promotions and terms are always changing.
You will need a credit score of at least 620 to qualify for a loan with GM Financial, though some dealerships may be willing to work with bad-credit borrowers. Like most dealers, GMC reserves its best rates for “well-qualified buyers only,” which is nonspecific but generally refers to those with credit scores of at least 700.
As with nearly all auto loans these days, there’s no prepayment penalty with a GM Financial loan. At any time, you can request your payoff quote from the company and pay off your entire balance without having to pay a prepayment penalty. However, lessees who want to end their lease early will have to pay a penalty.