Buy Now, Pay Later

 - February 1, 2007, 10:34 AM

GMAC’s business aircraft finance group of Southfield, Mich., has launched a trial program, initially for three to six months, in which buyers of new or used turbine aircraft can defer loan payments for six months. The group’s director, Chuck McGuire, said that by not requiring payments for six months, the company is able to provide the client with “a substantial up-front cash flow saving.” There are no fees or interest penalties associated with the program, and the amount of the deferred payments is slowly and incrementally added to the client’s remaining monthly payments throughout the original loan period, according to McGuire.