GM Financial is celebrating 90 years of operations in Mexico, where it consolidates its position as one of the leading automotive financing companies in the Latin American country. The automaker’s financial branch has a longer history than GM’s own subsidiary in Mexico, which celebrated 85 years of activities in September 2020.
GM Mexico Headquarters
During its nine-decade presence in the Mexican market, the organization known today as GM Financial Mexico has operated under various names and sub-brands. The company currently provides financial solutions to more than 400,000 customers in Mexico through four brands: Chevrolet Servicios Financieros, Buick Financial Services, GMC Financial Services and Cadillac Financial Services.
“This is an important year for GM Financial,” said Senior Director of Sales, Marketing and Insurance at GM Financial Mexico, Albert Diaz Leal, in a statement. “We reaffirm our commitment to Mexican families in offering the broadest and more innovative portfolio of financial products that adapt to their needs and facilitate the acquisition of a vehicle the Chevrolet, Buick, GMC and Cadillac brands,” he added.
To celebrate its first 90 years in the country, GM Financial is offering plans with terms of up to 90 months for its four brands in Mexico. The subsidiary thus becomes the first company to finance a new vehicle for such period lengths in Mexican automotive industry. The plans are in effect for a limited time for Chevy, GMC, Buick and Cadillac vehicles.
Founded in 1931, GM Financial Mexico was originally established as a financial institution under the name General Motors Acceptance Corporation de México, S.A. GM Financial currently is the leading automotive finance company in the Mexican market and its main offices are located in the city of Monterrey. It employs more than 380 people.
GM Financial Mexico will continue to celebrate its 90th anniversary throughout the year, offering a wide range of solutions for the purchase of new and used vehicles and fleets, adapted to the needs of each customer profile. Its services constitute a fundamental pillar for the sale of high-volume vehicles for GM in Mexico, particularly Chevy models in the A and B segments.
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Comments
Who is such an idiot to pay for a car in seven and a half years? If you need time to pay for a new car, instead of such a long term financing, just start saving that monthly payment in a bank, and gain interest instead of paying for it. Then buy the car with one large payment. Dealers would gladly give you a disount that way!
People who are smart with money. My most recent purchase, I got 0% APR over 6 years. I didn’t get the cash discount, that worked out to be equivalent to 0.9% APR.
GM Financial is selling notes at 1.5%. Meaning I can earn 0.6% by giving GMF money to loan to myself.
That’s a bad deal too because the long-term S&P 500 return is around 9%. A financially smart person would realize borrowing at 1% to make 9% is a pretty good deal.
For those with good credit, captive loans are usually a better deal than cash because the automaker hopes you’ll buy a more expensive car.
The dealer loves when you finance as they get a cut up front. The old GMAC were criminals with insane interest rates. I just bought two new Chevys, a Corvette and a Silverado and financed them at the dealer. They both were done there thru credit unions at great rates!