What GM Financial is and how to pay your loan
GM Financial is the captive finance company owned by General Motors. It finances vehicle purchases for people buying or leasing GM vehicles — cars, trucks, and SUVs from Chevrolet, GMC, Cadillac, and Buick. If you financed your vehicle through GM Financial rather than through a bank or credit union, your monthly payment goes to them.
You can make a payment online through your account, by phone, by mail, or in person at a GM dealership. The method you choose depends on how quickly you need the payment processed and whether you want a record of the transaction right away.
Key Takeaways
- GM Financial payments can be made online at gmfinancial.com, by phone at 1-888-GM-LOANS, by mail, or at a GM dealership.
- Online payments typically post within one business day, while mailed payments can take two to three weeks to reach the company.
- You will need your account number or vehicle identification number (VIN) to make a payment by phone or online.
- Setting up automatic payments through your bank account or debit card can prevent late payments and takes a few minutes to arrange.
- Late payments are reported to credit bureaus after 30 days and can damage your credit score, so paying on time matters even if you have a grace period.
Paying online through your GM Financial account
The fastest way to pay is through the GM Financial website at gmfinancial.com. Click "Sign In" and enter your username and password. If you do not have an online account yet, you can create one by providing your account number, VIN, and the last four digits of your Social Security number.
Once you are logged in, select "Make a Payment" and choose the amount you want to pay. You can pay the minimum due, the full statement balance, or a custom amount. The website will ask you to confirm the payment method — usually a bank account or debit card — and the payment date. Payments made before 5 p.m. Eastern Time typically post to your account the next business day.
Paying online leaves you with an when ready confirmation number and a record in your account history. This is useful if you ever need to prove you paid on time.
Paying by phone or through automatic payments
You can call GM Financial at 1-888-GM-LOANS (1-888-465-5266) to make a one-time payment over the phone. A representative will ask for your account number or VIN and the payment method you want to use. Phone payments are processed the same day if you call before the cutoff time, usually 5 p.m. Eastern Time on business days.
Setting up automatic payments is often the easiest option if you want to stop thinking about your payment date. You can arrange this through the GM Financial website or by calling the number above. You choose the payment amount (minimum, full balance, or custom), the day of the month it should come out, and whether it should come from your bank account or debit card. Once set up, the payment happens automatically each month until you cancel it.
Automatic payments reduce the risk of forgetting a due date, which is especially valuable if a late payment would hurt your credit score or trigger late fees.
Paying by mail or at a dealership
If you prefer to pay by check or money order, you can mail your payment to the address shown on your monthly statement. Include your account number or VIN on the check so GM Financial can match it to your account. Mailed payments typically take two to three weeks to arrive and post, so mail your payment well before your due date to avoid a late fee.
Some GM dealerships also accept payments in person. Call your local dealership to ask whether they offer this service and what hours they accept payments. In-person payments are usually processed within a few business days.
Understanding due dates, grace periods, and late fees
Your due date is listed on your monthly statement and in your online account. Most GM Financial loans have a grace period of 10 to 15 days after the due date, meaning you will not be charged a late fee if you pay during that window. However, interest continues to accrue on any unpaid balance, so paying late still costs you money.
If you miss a payment by more than 30 days, GM Financial reports the late payment to the three major credit bureaus — Equifax, Experian, and TransUnion. A 30-day late payment can lower your credit score by 100 points or more, depending on your current score and credit history. Late fees vary by state and loan agreement but typically range from $10 to $25 per late payment.
If you are struggling to make a payment, contact GM Financial before the due date. They may be able to work out a temporary arrangement, defer a payment, or discuss other options. Calling ahead is much better for your credit than missing a payment and hoping they do not notice.
What to do if you cannot find your account number
Your account number appears on your monthly statement, in your online account, and on any payment coupons GM Financial sent you. If you have lost all of these, you can look up your account using your VIN and the last four digits of your Social Security number on the GM Financial website, or call 1-888-GM-LOANS and provide those details to a representative.
Your VIN is printed on your vehicle registration, insurance card, and the title document. If you cannot locate it, you can find it on the dashboard on the driver's side of the windshield or on the door jamb on the driver's side.
Paying off your loan early
You can pay off your entire loan balance at any time without penalty. Some people do this to save on interest or to own their vehicle free and clear sooner. To find out your exact payoff amount — which includes any accrued interest through the payoff date — log into your online account or call 1-888-GM-LOANS.
The payoff amount changes daily because interest is calculated daily. If you plan to pay off the loan, ask GM Financial for a payoff quote that is good for a specific number of days (usually 10 days) so you know exactly how much to send. Once they receive the payoff amount, they will send you a lien release document, which you will need to take to your state's motor vehicle department to transfer the title into your name alone.
Frequently Asked Questions
What happens if I miss a payment?
A missed payment is reported to credit bureaus after 30 days and can lower your credit score significantly. You may also be charged a late fee. If you miss two or more payments in a row, GM Financial may begin repossession proceedings. Contact them when ready if you cannot pay on time.
Can I change my payment due date?
Yes. Log into your online account or call 1-888-GM-LOANS to request a due date change. GM Financial typically allows you to move your due date once per year, though policies vary. A new due date usually takes effect on your next billing cycle.
Is there a fee for paying online or by phone?
No. GM Financial does not charge a fee for online or phone payments. Some third-party payment processors may charge a fee if you use their service, but paying directly through gmfinancial.com or calling 1-888-GM-LOANS is free.
What if I overpay my loan?
If you pay more than your statement balance, the extra amount is credited to your account and reduces your next payment or loan balance. You can request a refund of the overpayment by contacting GM Financial, though most people let the credit explore to future payments.
Can I make a payment if I am behind on my loan?
Yes. You can make a payment at any time, even if you are behind. Paying what you owe will stop additional late fees and may prevent repossession. Contact GM Financial to discuss a plan if you are significantly behind.