What is the difference between GMACs Commercial SmartLease and GMACs ComTRAC Lease?
Commerical SmartLease ComTRAC Lease Lease / Vehicle titled in GMAC’s Name Lease / Vehicle titled in GMAC’s Name No usage stipulation. Customer must use for business purposes more than 50% of the time. Specialized upfits and abnormal depreciation may not be available. Product allows for specialized upfits or abnormal depreciation Customer does not set residual value. Customer can set their own residual value. Residual can be as low as 0%. Customer must pay over-mileage penalties, if any. No mileage concerns. Customer must pay excess wear and tear penalties, if any. No excess wear penalties. Closed-ended Lease / Customer not responsible for residual value at end of Lease. Open-ended Lease / Customer responsible for residual value at end of Lease. Security Deposit may be required. No Security Deposit required. Maximum term available is 48 months. Maximum term available is 60 months. No Disposal Fee. $250 Disposal fee / ($500 Medium Duty)document.
