Tagged leasing

How to Extend Your GM Financial Vehicle Lease

You can extend your GM lease up to 6 months, but you have to qualify.

I learned something new today about GM Financial end-of-lease options.

Curious about the latest turn-in date for one of my leased vehicles, I called the GM Financial Lease Customer Support Department. (Scroll to bottom for number.)

During the call, I was told that there was a 15-day grace period from the lease maturity date. For example, my son’s 2014 Chevy Cruze lease is up on Feb. 7. According to the representative on the phone, I would not be penalized or charged additional money until the 15th calendar day after the maturity date, Feb. 21.

Although the representative put me on hold to verify this information with her manager, she said she couldn’t provide anything to me in writing. I wasn’t satisfied with simply taking her word for it. So, I asked for the number to contact the department that handles end-of lease options directly. (Scroll to bottom for number.)

Sure enough, the End of Lease “specialist,” refuted the idea of a 15-day grace period as false and told me that the only way to extend your lease beyond the maturity date is to make proper arrangements and qualify for a predisposed extension of up to 6 months.

Sylvia Dana, sales consultant at Todd Wenzel Buick GMC in Grand Rapids, Mich. Contact Sylvia at 616-975-3629 or sdana@toddwenzel.com

A cautionary tale regarding qualifying for a lease extension:

I recently had a customer on a two year lease that will mature in one month. She wanted to see about leasing her next vehicle, but — unfortunately — her credit score has plummeted, making it impossible for her to get another GM Financial lease approval at this time.

I took the deal to my used car sales manager to see about her chances of purchasing a pre-owned vehicle. But, due to the current state of her credit, he suggested she extend the lease 6 months and use the time to improve her credit so she can have more options.

According to the end-of-lease department at GM Financial, this customer can’t qualify for any extension on her lease because of her payment history. Apparently, she was off of work for a couple of months due to an injury. As a result of a lower pay on short-term disability, she made a total of four 30-day late payments on her GM Financial lease.

GM Financial shows little mercy when it comes to late payments. And, therefore, cannot qualify for either another lease or a lease extension. Good news is, it’s tax season…so I’m suggesting this customer purchase a $2000-$3000 car for the time being and work on her credit over the next 6 months.

There’s always a solution to problems, but it’s good to know how to prevent problems ahead of time.

Here are five more things to know about getting approved for a GM Financial lease.


GM Financial Lease Customer Support — 800-284-2271, open 7 a.m. to 8 p.m. Central Time Monday through Friday and 7 a.m. to 6 p.m. on Saturday.

For more information on lease extensions, GM Financial lease customers can call the End-of-Lease Department directly, at 800-436-1463.

GM Financial End-of-Lease Guide

PrintEmailShare

Last Chance to Lease a 2014 Chevy Cruze

(Post updated Dec. 2, 2014)

Looking for a low payment on a brand new car for the holidays? Hear this: 2014 Chevrolet Cruze lease programs have been extended through the end of 2014!

I lease a Cruze myself and I truly love my car. My 20-year-old son is also driving a leased Cruze. The Chevy Cruze is great on gas, good in the snow and safe with 10 standard airbags and safety-cage construction.

Pay $179 a month for 36 months, 12 thousand miles a year, for the following scenario:

  • Trade a car in that’s worth around $2500 or put that much down (Down payment or trade is not required. This is just an example).
  • Qualify for the ONE of the following discounts: Credit Union, Military, Recent Graduate, GM supplier or GM Educator (any public or private school or university employee)
  • 700 credit — NOTE: Having limited or less than perfect credit and/or having negative equity on your trade will obviously increase the payment. But no biggie, it’s worth it.

Save even more if you get the GM Family Discount, are a USAA member, or have other leases in your household.

This scenario assumes you select 2014 Chevrolet Cruze with a $21,855 sticker price. This specific vehicle gets 38 mpg, includes remote start, power driver seat, auto-dimming mirror chevy mylink color touch screen, blue tooth streaming, rear camera, 5 years remote link app, 6 months Onstar directions/connections, 3 months XMSirius Radio, 2 yrs free scheduled maintenance and 5 years roadside assistance.

Do you live in or are you willing to drive to West Michigan for a new car?  Contact Sylvia for details! Or call, Sylvia  at 616-575-9624.