Vauxhall Car Finance: GMAC UK (Vauxhall Finance) | www.uk.gmfinancial.com
GMAC UK Plc is Vauxhall’s in-house lender, represented through the trading name of Vauxhall Finance that you’ll see when viewing offers over on www.vauxhall.co.uk. If we head back to Vauxhall’s origins, the founder (Alexander Wilson) formed the company in Luton as a pump and marine engine manufacturer. This was in the year 1857, with it taking some time before they would crossover to build cars that began in 1903. Success in Britain naturally caught the attention of America’s General Motors who went on to take control in the year 1925. This was a key point in time for GM who over the following years would go on to acquire Opel of Germany and then Holden of Australia.
They would go on to chart global sales for 77 consecutive years between 1931 and 2007. What helped to secure GM’s dominance was their creation of GMAC in 1919 that introduced credit plans for car buyers. This is where they got one up on their main rival Ford, with Henry Ford at the time being opposed to such facilities on moral principals. Ford’s approach did change, but this should have really come sooner. GM would in time sell a 51% stake of GMAC in 2006. General Motors was of course smashed when the financial crisis hit and they would file for bankruptcy in 2009. Both they and Chrysler were rescued by the government.
In 2010 AmeriCredit Corp was acquired and rebranded as GM Financial. This was the future replacement for GMAC who had became Ally (with the exception of the UK operation). GM’s stake in Ally was sold in 2013, but they did acquire their international operations that brought GMAC UK back into the family of GM. The referenced www.uk.gmfinancial.com site provides basic about info, news etc. There is a login here that can be accessed in the contact area. All of the latest Vauxhall Finance deals are showcased at www.vauxhall.co.uk. All applications are however to be made in person through franchised dealerships. There are 2 credit plan choices with the headliner being Flexible Finance where you can enjoy 0% rates.
The conditional sale 0% rates are available on most models (on a few they advise you to speak with your local dealer). The balance can be spread between 24 and 60 months. A nice touch is that don’t set a minimum deposit. Then we have Flexible PCP that offers repayments of 24 or 36 months with the interest typically sitting between 4% and 6.9%. The PCP’s deposit contributions often sat at a few hundred, but some Mokka trims had £3000. Back in 2015 this British marque had 3 models ranking within he top 10 for total sales. This included the Corsa (#2), Astra (#7) and Mokka (#10). Of these, it is the new Astra that has been grabbing the headlines after being awarded as the European Car of the Year 2016.
Vauxhall’s entry level motor is the Viva that carries a starting price of £8745. The Corsa starts from £9745 (in 3 door) and the Adam at £12,110. There are various newer models worth checking out including the Cascada, Insignia and we noted the Mokka above. There is a range dedicated to high performance in the VXR series that looks great in the Corsa and GTC editions. VXR is similar to what Ford have been doing in their ST range. The General Motors revenue covering 2015 stood at £104 billion. This interestingly just beat Ford who achieved £102 billion. GM’s actual worldwide sales hit 9.8m. Toyota came out best at 10.15m.