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GMAC UK first with free unemployment insurance across all its products


CARDIFF, UNITED KINGDOM (April 6, 2009) – In a groundbreaking move today, GMAC UK announced the launch of free involuntary unemployment cover on all its new and used car finance packages, covering repayments of up to £1000 per month. The GMAC offer is the first of its kind in the UK and is based on clear and simple eligibility criteria.

“Our aim is to give consumers confidence that now is a great time to visit your Vauxhall, Saab or Chevrolet retailer and purchase a new or used car,” says Dennis Foley, Managing Director, Sales and Marketing, GMAC UK.
 
“This market-leading offer means customers can take advantage of the great finance deals available in the showroom such as 0% terms, ‘You Pay, We Pay’ and low rate or finance deposit contribution, with the added confidence that their investment is additionally protected in case of involuntary unemployment.”

From its conception, GMAC was keen to create clear, generous guidelines for eligibility. Customers simply need to be aged between 18 and 65, and living/working in the UK at commencement of the finance contract. They also need to be in full-time employment or self-employed (working over 16 hours per week) and not be aware of any impending unemployment.

Free IU cover is available on all GMAC finance contracts taken out from April 3 until June 30, 2009, providing customers with 24 months of free cover in the event of unexpected involuntary unemployment, covering repayments of up to £1,000 per month, for a maximum of 12 consecutive payments.

Whether customers take advantage of a ‘You pay, We pay’ (0% finance with 5% cashback) on a new Vauxhall or Chevrolet or an H.P. agreement on a new Saab with no VAT, eligible customers will have peace of mind, knowing they are additionally protected. Please see your local retailer for full terms and conditions.

About GMAC Financial Services
GMAC is a bank holding company with operations in North America, South America, Europe and Asia-Pacific. GMAC specializes in automotive finance, real estate finance, insurance, commercial finance and online banking. As of Dec. 31, 2008, the organization had $189 billion in assets and serviced 15 million customers around the world. Visit the GMAC media site at http://media.gmacfs.com for more information.

Contact:
Susanne Gehrling
Tel: +49 6142 604 566
Susanne.Gehrling@gmacfs.com