Smart Purchase^TM is a logical alternative to existing conventional financing or leasing plans. This new, more flexible loan product allows you to own your vehicle while remaining enabled to return your vehicle at a fixed point in the contract term for a predetermined price. It is a fixed rate, fully amortizing product with terms up to 84 months.

Smart Purchase^TM customers may exercise an option to return their vehicle for sale to Ally Credit® during the time frame specified in their contract (i.e. months 48-49 or months 60-61), subject to payment of a $199 disposal fee and any excess wear and tear or kilometre charges. Other conditions and limitations apply. Alternatively customers can pay the outstanding balance in full (amount determined at vehicle purchase date) or continue at the initial payment amount for the remaining term of the contract.

Smart Purchase^TM Plan Features

• Rate is fixed over the entire term of the contract
• No down payment requirement OAC
• 48 or 60 month Smart PurchaseTM Option Date (where you can return your vehicle for sale to Ally Credit, buy it out, or simply continue your payments)
• Available in all provinces and territories

Smart Purchase^TM Customer Benefits

• Low monthly payments
• You actually own your vehicle
• Able to get in to a new vehicle more often
• Multiple choices at the Option Date
• Product is completely open, so it can be paid down or off at any time without penalty
• Available on all vehicles

 

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FINANCING FAQ:

Should I use my bank?
Get your loan from the financial establishment that offers you the best overall package of rate and benefits. Loan rates change constantly. Each UlmerAutoGroup location has a full-time person whose responsibility it is to be aware of different programs and rates available to the public to finance a vehicle purchase. Our Business Manager will give you those options so you can make the best decision for YOU.

Why do people lease new & used cars?

Lower monthly payment:
During a lease you do not pay for the residual value [residual is the buyout of the vehicle at the end of the lease] and as a result your monthly payments will be lower than if you financed the same vehicle. This means you can enjoy the same car for lower monthly payments or drive a more deluxe model for the same payment as a finance contract.

Lower cash down:
Although the amount of cash required at the beginning of a lease is dependent on your credit history, it is usually much lower than the 20 to 25% required when you purchase a vehicle and finance the balance.

Trade Sooner:
Many vehicle loans are sixty months or more and most people keep their vehicle for most of the loan term. Many people choose to lease so they can move to a different vehicle every three years or 36 months. That van that's perfect for today may not be the right vehicle for a five year period.

Reduce Risk:
UlmerAutoGroup leases are 'walkaway' leases. At the end of the term [provided you have kept within the km limits] you can walk away from the vehicle or purchase the vehicle. If the economy is such that your lease vehicle is not worth the buyout amount you simply walk away from the vehicle. On the other hand, if the vehicle has appreciated in value you have the option of purchasing the vehicle and taking advantage of an equity situation.

For business purposes:
For many small businesses the simplicity of writing off a lease payment far outweighs the complicated capital cost allowance calculations. In addition, a lease will normally NOT impact your ability to source operating lines of credit for your company.

Insist on Full Disclosure:
Regardless of your decision, insist on a "full disclosure" lease or loan where interest rates and all terms are clearly stated before you sign!

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