External Rate Sheet and Underwriting
Guidelines
© Copyright 2011– All Rights Reserved
Page 1
Rev. 03/18/2014
GM Financial
New and Used Non-Recourse Auto Finance Program Rate Sheet
Effective March 18, 2014
Credit Decisions
•
Credit decisions are based on multiple factors and remain the sole discretion of GM Financial
•
Approvals expire 30 days from the date the initial application is submitted via DealerTrack or RouteOne and must be resubmitted for
additional consideration
•
Contracts received in-house and not funded within 30 days from the date the initial application was submitted via DealerTrack and
RouteOne, will be returned to the dealer
o
The applicant(s) will not be eligible for reconsideration for 90 days from the original date of submission
Pricing
•
Rates and fees are subject to internal scoring. Please refer to callback for actual buy rate, participation and fees
•
Contract APRs cannot exceed state usury limitations
•
Simple interest contracts only. A GM Financial Approved Contract Forms list can be accessed on DealerTrack and RouteOne
•
Credit Bureau used by the credit center is state specific based on the state the applicant(s) resides in and must score minimum 450
(Refer to the attached map for credit bureau and value guide used in each state)
Participation
•
Participation split is 70/30. Participation and/or flat fee subject to chargeback in the event of a charge-off and/or payoff before first 3
payments are made
Acquisition Fees
•
A non-refundable acquisition fee may be assessed for each loan based on the customer’s credit risk. Acquisition fees cannot be
charged to the customer
Dealer Advance
•
Invoice or Wholesale + TT&L + L/AH + Service Contract + GAP + approved Documentation fees (Refer to the attached map for credit
bureau and value guide used in each state)
•
Current model year vehicles with mileage in excess of 5,000 miles require a value adjustment.
•
LTV will be determined, on a deal-by-deal basis, based on the creditworthiness of the applicant(s) and collateral
Minimum Amount Financed:
$7,500
Term Eligibility
Eligible Vehicles
•
9 years old or newer with less than or equal to 100,000 miles.
Vehicle must be in appropriate value guide to be considered
•
Must have $7,500 minimum book value for vehicles:
o
80,000+ miles
o
2005-2006 model years
•
Must have $12,500 minimum book value for 61-72mo terms.
Ineligible Vehicles
•
No commercial vehicles. No exotic vehicles, motorcycles or
RVs. Restricted vehicles can vary by make and model. A
complete list of restricted vehicles can be accessed on
DealerTrack and RouteOne
•
“Grey Market” vehicles. No branded titles (i.e., odometer fraud,
salvage titles, repaired flood damage and VIN cloning)
MILES
AGE
<60
60-79,999
80-100
Current
- 2011
72
60
NA
2010
72
72
NA
MAX TERM
2009
72
72
60
2008
72
72
60
2007
60
60
60
2006
48
48
48
2005
36
36
36
