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ComTRAC - Commercial Open-End Lease

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ComTRAC by GMAC


GMAC's ComTRAC Commercial Vehicle Lease is an open-end lease, which is an alternative to our closed-end Commercial SmartLease. It also permits qualified customers to lease vehicles with specialized upfits.


Eligible Vehicles

New passenger cars and light and medium duty trucks of any make or model.


Benefits*

A ComTRAC open-end lease allows qualified customers to:

  • Choose from a wide range of commercial vehicles, including those with unusual or specialized upfits or high mileage requirements.
  • Tailor the residual value to meet special needs. This gives you more flexibility in determining monthly payments and managing your cash flow.
  • Receive rapid credit decisions.
  • Add new vehicles to your fleet quickly and easily.
  • Enjoy unlimited mileage2.
  • Incur no excess wear-and-tear charges2.

Features*

Terms:

  • Terms up to 60 months.

Residuals:

  • Based on your needs, determined during the application process.
  • May be a 0% minimum for any term.
  • You're responsible for the residual balance.
Sale/Use Tax:
  • Based on the laws in the state and local community in which you garage the vehicle.
Titling and Maintenance:
  • Titled in GMAC's name.
  • You are responsible for all vehicle maintenance.

End-of-Agreement Options*

  • Purchase the vehicle by paying the residual value plus any unpaid payments and charges.
  • Purchase vehicle, financing the balance with GMAC2.
  • Trade in the vehicle to your local dealer and ask the dealer to pay the amount due.
  • Return the vehicle to us for remarketing and pay a $250 disposal fee. If the net sale proceeds are less than the residual value plus unpaid payments and charges, you are responsible for the difference.

Early Termination*

You may terminate a ComTRAC lease at any time. The amount due will be the total of the undepreciated balance, any matured and unpaid fees and lease payments, and any unpaid charges due under the lease, less any unearned lease charges.

We perform periodic reviews of financial status to ensure continued eligibility.


Please click here for the ComTRAC-Open-Ended Lease FAQs



1 You are contractually liable for the residual balance.
2 We perform periodic reviews to determine continued eligibility.
3 We reserve the right to review each purchase and make the decision to finance an individual vehicle based on normal approval guidelines.
* ComTRAC lease arrangements are subject to and governed by the terms and conditions of the lease agreements and related documents under which they are entered.
SmartLease and ComTRAC are registered service marks of GMAC.
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