Anyway to change cars with GMAC?
 

I have an H3, since it came out - but in August we switched over to a 2008 finance.

It's a good vehicle, but we feel like it may be time to switch to a smaller and cheaper car, since we went from a 2006 to the 2008 and perhaps it was a mistake.

Is there a way for us to either switch the H3 into perhaps a cheaper Cadillac, therefore reducing payments, or going to a different car maker all together? There is still a lot left to pay on the finance of course since the car was bought only in August of this year.

Are there any options, or are we stuck with the car pretty much?

Re: Anyway to change cars with GMAC?
 

The only way GMAC will let you out of your contract is if it's to their financial advantage. You may be able to switch to a more expensive vehicle but chances are it'll cost you several thousand dollars to make the switch to anything less expensive.

Re: Anyway to change cars with GMAC?
 

Sounds like you are in a contract, not a lease. Right?

If a contract, you might try advertising the vehicle, finding someone that will take over your payments.

OR, GMAC will not care if you trade or not, as long as their loan is tied to a title in their hands. You will have to shop dealers and find one that is interested in putting some real hard money in your H3.....usually, its a dealer that is not a GM dealer, but the competition cause they usually want a GM vehicle sitting on their used car lot.makes them look aggressive...good luck.

Re: Anyway to change cars with GMAC?
 

Advertise in your local paper to sell for how much you owe. but you probably owe too much to be able to do a third party sale. someone would rather go buy from a dealer and get as many incentives as possible right now. sorry to say, but you're most likely stuck with the vehicle you bought for a little while.