What are the implications of turning in a vehicle purchased with the GMAC Smartbuy finance contract early?

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What are the implications of turning in a vehicle purchased with the GMAC Smartbuy finance contract early?

Bought an '05 Pontiac Vibe in Jan '05 using GMAC Smartbuy financing with a 48 month contract term. Want to turn it in now to purchase another vehicle (with cash). What are the implications/penalties involved, aside from the $250 disposal fee? Are we locked into contract until completion of 48 months? Any detail info would be appreciated!

Thank you

2006-07-15 10:14:50 · 2 answers · asked by boatdrinks97 1 in Cars & Transportation ➔ Buying & Selling

2 answers

cant.

2006-07-15 10:17:44 · answer #1 · answered by The Foosaaaah 7 · 0⤊ 0⤋

you are pretty much locked into the contract unless you feel like paying all the penalties, which, i believe is the remainder of the payments.

2006-07-15 10:33:54 · answer #2 · answered by vetteslayer 3 · 0⤊ 0⤋