Hello everyone,

I'm new to this forum and would like to introduce myself. My name is Pete and I'm interesting in purchasing a new 2006 GMC Sierra 2500HD Extended Cab with the power package.

Now, I was on GMC website and noticed that there is a thing called 'SmartBuy'. Does anyone of you use this method of financing? I'm thinking about putting $10,000 down. Is this a good method? This seems almost like a lease to me.

Thank you for your information.

Pete :)

Pete, welcome aboard. I moved your post to the section that will get you the most help for your questions. Please take a minute and read over the new posting guidelines so you won't get things moved or locked.

thanks
B.

Sorry about that Brian.


Thanks!

Pete

The smartbuy program is very similar to a lease however you do not have to carry the same type of insurance coverage as a lease.
Honestly unless you have some very serious credit issues the smartbuy is not gaining anything. Every time I have gone in to get a new vechile over the last few years with a great credit history the normal finance rates are low enough that the payment to purchase out right is extremely lower then the smartbuy payment which has a higher interest rate.
Do some research on your credit history and find out your score. Search the local credit unions rates, most have an auto calculator on their website. GM/Chevrolet have a Smartbuy calculator on theirs, just remember the rate on the website for the smartbuy is about 3 points below what anyone ever actually gets (i.e. shows 5% then people get 8%).

Hello am.mscl,

Thank you for the information. Yes, I'm going to conduct some thorough research before I buy.

My credit is excellent with a score of 745. The Smary Buy seems to good to be true. I'm leaning more towards to conventional financing. Hopefully when it's time for me to buy, I can get 0% percent..:)

I would like to have a monthly payment lower than $300.00 for three years. I'm planning on putting down $20,000.

Thanks,

Pete :)