INTERNATIONAL STUDENT LEASE PROGRAM

GM Financial is pleased to announce a program where International Students studying in Canada can now lease a new GM vehicle, subject to meeting GM Financial’s qualifications.

Program Parameters

  • Qualifying new GM vehicles
  • All leases will be set up on pre-authorized payment plan
  • The maximum lease payment is $650 per month (minimum $100 per month)
  • A down payment of 20% (of MSRP) is required as well as a 5% security deposit (of MSRP)
  • Lease Term – The lease term must be aligned to the closest term remaining on the student visa (maximum term
  • 48 months). However, if the lease term exceeds the remaining time on the visa, GM Financial requires an extra security

    deposit equal to the monthly payment (including taxes) for each month it is over, to a maximum of 12 months.

    Verification & Identification Requirements

    • Letter from the University/College Registrar, confirming program enrollment
    • Bank statements (previous three months required)
    • Copy of Student Visa
    • Proof of Residence
    • Proof of Canadian Driver’s License
    • Parent contact information (address, telephone number, email)

     

    Frequently Asked Questions

    Q: The program requires a letter from the student’s Registrar. What schools are eligible?
    A: Students must be currently enrolled in an accredited College, University or CEGEP program.

    Q: What documents are required for proof of residence?
    A: GM Canada requires one of the following statements in the applicants name, with the address matching the address on the credit application: Utility bill (telephone, gas, electric, water), cable bill, cell phone bill, credit card statement, or bank statement.

    Q: What if the student has an International Driver’s License?
    A: Student must have a valid Canadian Driver’s License.

    Q: The program calls for bank statements – Do these need to be from a Canadian Financial Institution?
    A: Yes. This will support the required pre-authorized debit for each lease payment.

    Q: The program requires 20% of MSRP as cash down. Can GM program credits or dealer discounts be used to satisfy this requirement?
    A: No. The required down payment and security deposit must come from student lessee. Taxes are in addition to the down payment requirement, as is standard with leasing.

    Q: Is the GM Student Bonus program compatible?
    A: Yes.

    Q: Which new GM Vehicles are eligible?
    A: All vehicles that qualify for GM/GM Financial lease programs as published.

    *Void where prohibited by law. General Motors of Canada Company may modify, extend or terminate this offer in whole or in part at any time without notice. For full program details, including participant and vehicle eligibility, please visit Georgian Chevrolet Buick GMC.