* Eligibility and qualification restrictions may apply.
GM Financial (GMF) Lease Rates - CBG
WHAT'S NEW?Lease rates and the list of eligible vehicles have been revised. Please see section 4 of this home officeletter and/or the most recent incentive summary chart for more details.Reminder:GM Canada has updated the Dealer
Proceeds section to reflect the following:· GM Financial shall
forward proceeds to the Dealer (inclusive of the subvention cost).
· It is imperative that Dealers report the delivery with the correct delivery type. In cases where GM Financial has forwarded proceeds to the Dealer
in full against a VIN that is not eligible for lease subvention, i.e. missing
delivery information, ineligible delivery type, incompatibility with previous
claimed incentive code, etc. GM Canada will charge back Dealer the subvention amount
included in the proceeds originally funded by GMF using the subvention
Chargeback CodeGM Financial GMF Chargebacks will include the reason for chargeback in an incentive
memo. To have the chargeback reversed, Dealer must take corrective action per
the chargeback memo and then contact the BARS Helpdesk to request the
All chargeback reversals will be processed using subvention
reversal code “SRC”.REMINDER:
The Subvented Rate Lease Program is offered in conjunction with GM Financial
(GMF) and not intended for Independent or Dealer Controlled Lease Companies.
Participating Dealers must obtain financing through GMF and credit is subject
to GMF's credit policies and approval. Current residual values are
attached. Please see Dealer User Guide, Dealer Reference Manual and Dealer
FAQ for program details located on the Lease Brand Page located in Global
A leasing landing page has been setup in Global Connect to provide additional
tools and information. https://www.autopartners.net/apps_can/gminfonet/shared/leasing_is_back/index.html *GM Financial will NOT
title vehicles altered significantly, including modification to fuel
delivery and controls or passenger-side driver controls, please see
Section 9 for more
information. Current year is defined by Calendar Year. LEASE
RATES, RESIDUALS AND TERMS: -Rates and cash are also
communicated by the GM Incentive Summary Charts
-Residuals will be communicated as a percentage of GM Canada’s published MSRP.
-Payment frequency: Monthly, or bi-weekly.
-Residual Values are based on vehicle usage of 24,000km/year.
-Residual Value enhancements are available for low kilometre leases (20,000km/
* For usage greater than 24,000km/yr residual values can be decreased on cents
kilometre basis per current the kilometre pre-purchase adjustment table.
cases pre-purchased kilometres must not exceed a value that would reduce
contracted residual value below 10% of GM Canada’s published MSRP for
* Minimum Residual Value must be at least 10% of GM Canada’s published MSRP.
* Charge for kilometres in excess of the contracted allowance is 16 cents per
kilometre at the end of the contract.
* Contracted residual values must correspond to the residual period in effect
time of delivery unless exempted by the “5-day delivery allowance”
(refer to Section 9).
* Only Retail program allowances/ rates/ incentives are eligible for Fleet
customers. EXCESS KILOMETRE CHARGES - Excess Kilometre
Adjustments can be purchased at time of lease inception per the current
kilometre adjustment table which defines the cents per kilometre charge
by vehicle category.
The maximum amount of pre-purchased kilometres is subject to the
contracted Residual Value
being at least 10% of the leased vehicle’s MSRP. CROSS-LINE LEASES:
- See the Crossline Lease, Crossline Sales, & Crossline Warranty Policy
and revisions) for complete details of Crossline Lease and eligibility.
Kilometres at Lease Inception
dealership has a CHEVROLET CRUZE with 12,000 kilometres that is eligible for a
Demonstrator lease. A customer elects to lease the CRUZE for a 36
month, 24,000 kilometre per year lease contract. In this case 3% would be
deducted from the published residual percentage and the customer would drive
the vehicle 72,000 kilometers over the term of the lease and could return the
vehicle at lease maturity with 84,000 kilometers (12,000+72,000) before excess
kilometre charges would apply. If the customer elected to lease
the CRUZE for a 36 month, 20,000 kilometre per year lease contract the 2%
enhancement for low kilometre usage normally available for new vehicles would
not apply and the customer would drive the vehicle 60,000 kilometres over the
term of the lease and could return the vehicle at lease maturity with 72,000
kilometers (12,000+60,000) before excess kilometre charges would apply. DEALER PROCEEDS- GM Financial shall
forward proceeds to the dealer (inclusive of the subvention cost).- It is imperative that
dealers report the delivery with the correct delivery type. ADVANCE GUIDELINES
- Factory MSRP, plus- 120% of MSRP of Non Value Added Option (non residualized)
- Acquisition Fee, plus
- Other taxes and or levies (e.g. Quebec Tire Tax)
- Optional XS Wear™ to a maximum of $850.00
- All Business/Org Fleet Lease applicants are excluded from the XS Wear program
- All Van and Pick-Up vehicles are excluded from the XS Wear program
- GM Financial requires a copy of the Dealer invoice at time of funding to
validate MSRP. OTHER RESTRICTIONS
The customer is bound by a number of restrictions and obligations as set out in
the agreements related to vehicle leasing. One of these restrictions is a
prohibition against the customer selling or leasing the vehicle to another
party or using the vehicle for hire.Dealers should refer to
the Leasing page in Dealer Connect or consult with GM Financial for complete
details and restrictions.
Vehicles leased to business/organizations may require additional security based
on potential usage as determined by GM Financial. AFTERMARKET ITEMS:
* Items approvedby GM Financial (i.e. XS
Wear™ Product, GMTPP) may be financed subject to advance approval. ACTION ITEMS :
* Dealers must complete and submit the following documents to participate in
* GM Financial Dealer Agreement
* GM Financial EFT (Electronic Funds Transfer) Form
If you are currently enrolled with GM Financial, there is no action required
ADDITIONAL PROGRAM NOTES:
* Minimum leased amount is $8,000.
* No additional Dealer buy downs are permitted.
* This is a promotional subvented lease program only; non-subvented (street)
will not be available.
Cash IncentiveMethod of application: CLAIMS FOR GM FINANCIAL LEASING:Paid to: Delivering DealerAutomatic Delivery Credit: YESIncentive Payment Code: GMFMust Delivery Data be received prior to payment YESLease Rate eligible for Incentive protection (Factory orders)? YESResidual eligible for Incentive protection (Factory orders)? NOPLEASE NOTE: - Claims must be submitted via OWB within 60 days of the program end date. Claims submitted after 60 days will be rejected and will not be eligible for payment.- A manual claim form
containing an authorization signature from both the District Manager and
Regional Manager, as well as rationale as to why it was missed along with
supporting documentation, is required for claims submitted after the 60 day
deadline.In order to claim a Lease rate that is eligible for Incentive protection call GMF Dealer Support Line at 1-855-GMF-DLRS (855-463-3577 one business day prior to delivery of the vehicle. The GMF Agent will adjust the portal to facilitate the protected Lease Rate.NEW Chargeback ProcedureIn cases where GM Financial has forwarded proceeds to the dealer in full against a VIN that is not eligible for lease subvention, i.e. missing delivery information, ineligible delivery type, incompatibility with previous claimed incentive code, etc. GM will charge back dealer the subvention amount included in the proceeds originally funded by GMF using the subvention codes below. Chargeback CodeGM Financial GMF Chargebacks will include the reason for chargeback in an incentive memo. To have the chargeback reversed, dealer must take corrective action per the chargeback memo and then contact the BARS Helpdesk to request the chargeback reversal. All chargeback reversals will be processed using subvention reversal code “SRC”.DOCUMENTATION REQUIREMENTS:Dealers are responsible for verifying customer eligibility.Dealers must retain the following in the customer’s file (Deal Jacket) for GM Canada audit purposes:1.Customer Acknowledgment Form **2.Bill of Sale3.Lease Agreement4.Customer Credit Application Consent Form ** The Customer Acknowledgement Form provided must be used and cannot be modified, altered or substituted in any way. Dealers are free to use their own acknowledgement forms in addition to the form provided by GM Canada, but in every case Dealers must complete and retain the Customer Acknowledgement Form. Method of payment: Electronic Funds Transfer* GM Canada will provide lease cash payments to the dealer on a monthly basis only. Other program guidelines: **Note: Fleet customers may be eligible; they however must be approved by GM Financial per their guidelines, must take the retail incentive programs only and are not eligible for Visa points. *PLEASE NOTE: A customer is considered a Fleet Commercial Customer if they, 1. Have been assigned a Fleet Account Number; or, 2. Would qualify for a Fleet Account Number.Fleet customers are required to take the retail incentives only. Fleet sales must be reported with the applicable fleet delivery type 013 and use FAN 248868 in the lessee/ company information and the end user FAN in the customer Information FAN field. * Dealers are required to pass on the total Fleet incentive amount received to Fleet Customers.5-DAY DELIVERY ALLOWANCE-Occurs when a vehicle lease has been entered in the portal prior to the residual period expiring and delivery happens (per lease agreement and lessee acknowledgement) no later than the 5th day or the following month. This is a manual adjustment; please contact your GM Financial Dealer Support group for more information. LESSEE ELIGIBILITY:-Must have reached the age of majority for the jurisdiction of the Lease.-Must be a Canadian Citizen or legal landed immigrant.-Must have a valid Canadian issued driver’s license, not a learner’s permit.-Must have sufficient employment or pension income to service all debts.-Must have signed a credit consent form -Must have signed portal consent form(s)EXCLUSIONS FROM LEASING PROGRAM:GM Financial will not lease vehicles to the following types of companies:-Automotive Dealerships (new and used vehicles)-Companies owned by the same owner of a Dealership with which GM Financial has an existing relationship.-Auto Body shops or Towing companies-Garages of any nature-Courier/Delivery companies-Ambulance/Police/Fire Departments-Not all commercial customers are eligible for GM Financial leasing. Please contact a GM Financial representative for more information.EXCLUDED VEHICLES AND/OR USES (FULL TIME OR OCCASIONAL USE NOT ALLOWED):-Vehicles used in/for commercial/business applications-Used vehicles are not eligible (excluding Dealer Demonstrators and GM Canada Company vehicles as per guidelines in section 8).-Emergency, law enforcement, municipal.-Livery vehicles, taxicab, limousine, omnibus, sightseeing conveyance or carrying of goods or passengers for hire, driver education/training.-Service or courtesy units, Cargo Vans, delivery units, courier, snow-plowing, towing.-Rental, daily rental or sub lease units.-Modified/customized or racing equipped vehicles.-Vehicles in excess of one (1) Ton capacity.-Certain vehicles are not eligible for GM Financial leasing and are excluded from the Lease Program; please contact a GM Financial representative for more information.DEMONSTRATORS:- Demonstrators with existing mileage to a maximum of 15,000 km are eligible for the Lease Program. - All lease contracts must allow customer usage of at least 20,000 per year. - Based on existing kilometres at lease inception an initial residual value reduction from the published percentage may be required per the chart below. Demonstrators with existing mileage to a maximum of 15,000 km are eligible for the Lease Program. General policy guidelines: In the GM Canada Dealer Sales and Service Agreement, Dealers agree NOT to deliver vehicles to entities not approved for Resale. Accordingly, this program is not available to:* Used Vehicle Dealer* Wholesaler* BrokerReference HOL 2015-704 and revisions for complete details.It is the Dealer’s responsibility to read and understand the terms of any Home Office Letters (HOL) referred to in these program guidelines. Please contact the BARS Support Group if you would like to receive a copy of any HOL. Contact your Regional representative regarding the interpretation of any HOL. Exceptions to any HOL or policy are only effective if made in writing and signed by your Regional Manager or designate.All HOL and related documents and information should be treated as Strictly Confidential and not disclosed or shared outside the Dealership without the prior written consent of GM Canada. GM Canada reserves the right to amend or revoke this program at any time without prior notice.GM Canada reserves the right to audit Dealer records and disqualify any amounts paid which do not qualify under the Program Guidelines. GM Canada will charge back to the Dealer any amounts paid on ineligible units. GM Canada reserves the right to take actions instead of or in addition to those set out in this paragraph.Final decisions on all matters relating to the interpretation of any rule or aspect of this activity rest solely with GM Canada.