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GM Newcomer Offer – RBC Terms and Conditions

RBC Automotive Financing products are offered by Royal Bank of Canada by way of conditional sales contract (in Quebec, installment sales contract) and are subject to its standard lending criteria.

^ The offers described herein are not transferable.

* “Up to $1,200 in value” represents the combined total value of the following separate promotional offers from General Motors of Canada Company (“GM”) and Royal Bank of Canada, respectively: (a) $1,000 Welcome to Canada bonus when you purchase an eligible new Chevrolet, Buick or GMC branded vehicle from any authorized GM Dealer by January 2, 2025 (see Footnote 1 for additional details), plus (b) an additional $200 account credit when you finance an eligible GM vehicle with Royal Bank of Canada as an eligible Newcomer within the Offer Period (see Footnote 2 for additional details). Each of these offers is administered separately (by GM and Royal Bank of Canada, respectively) in accordance with their respective terms and conditions.

1 GM Welcome to Canada Promotion

Offer provided by General Motors of Canada Company (“GM”) and available from January 3rd, 2024 to January 2, 2025 (“Promotional Period”).

The promotional offer of $1,000 bonus is available to be applied to reduce purchase price or down payment, with purchase or lease (OAC) of eligible new Chevrolet, Buick or GMC vehicles. $1,000 bonus is manufacturer-to-consumer (tax inclusive). Discount available only once to each eligible individual for a single vehicle purchase or lease. Valid Canadian driver's license is required. Proof of status is required. Permanent Residents are eligible if their arrival date was in 2021 or later. Temporary Foreign Worker must be valid at the time of purchase. Please see dealer for details or visit Welcome to Canada Program (gmwelcometocanada.ca). This offer may not be redeemed for cash and may not be combined with certain other consumer incentives. Certain limitations and conditions apply. Void where prohibited. General Motors of Canada Company reserves the right to amend, modify or terminate this program, in whole or in part, at any time without prior notice.

The Promotional Offer is offered and administered by General Motors and Royal Bank of Canada takes no responsibility for the Promotional Offer.

®/TM‡ The General Motors of Canada names, logos, product names, feature names, images and slogans are trademarks owned or licensed by General Motors of Canada Company. All other trademarks are the property of their respective owners.

2 RBC Automotive Finance Offer

The RBC Automotive Finance Offer (the “RBC Offer”) for Eligible Newcomers under the RBC Newcomer Automotive Loan Program (as more particularly described below) is provided by Royal Bank of Canada and is available October 1, 2024 to January 2, 2025, inclusive (“Offer Period”).

The RBC Offer is: $200 (“RBC Bonus Amount”) for an eligible Newcomer who has purchased an eligible General Motors of Canada Company (“GM”) vehicle and has enrolled under the RBC Newcomer Automotive Loan Program within the Offer Period.

The RBC Offer is available to Newcomers (as more particularly described below) who meet all eligibility criteria and otherwise comply with the terms and conditions of the RBC Offer (the “Terms”) as set out herein.

To qualify to receive the RBC Bonus Amount, you must

  • (i) be a Newcomer (as more particularly described below);
  • (ii) within three (3) years of the date you first legally entered Canada as a Permanent Resident or Temporary Foreign Working, and during the Offer Period, obtain an RBC automotive loan for the purchase of an eligible GM vehicle;
  • and
  • (iii) before January 2, 2025 have or open one of the following RBC Personal Deposit Account types: RBC Staff Banking, RBC Private Banking, RBC VIP Banking, RBC Signature No Limit Banking, RBC No Limit Banking, RBC Day to Day Banking, RBC Student Banking, RBC Student No Limit, RBC Advantage Bank Account, RBC Private Banking Savings, RBC D2D Savings, RBC Enhanced Savings, and eSavings / HISA (each an “Eligible Personal Deposit Account”).

Please Note:

  • RBC automotive financing is provided by Royal Bank of Canada and is subject to its standard lending criteria.
  • To be considered a “Newcomer” for the purposes of this RBC Offer, you must be a Permanent Resident or Temporary Foreign Worker who as of the date you obtain an RBC automotive loan has been in Canada for less than 3 years.
  • If you are a Permanent Resident, you may apply for an RBC automotive loan through Royal Bank of Canada’s Newcomer Automotive Loan Program or through its general automotive loan program.
  • If you are a Temporary Foreign Worker, you may only apply for an RBC automotive loan through Royal Bank of Canada’s Newcomer Automotive Loan Program, and your financing term may not exceed the duration of your temporary work permit.
  • Under Royal Bank of Canada’s Newcomer Automotive Loan Program:
    • You must complete and submit a credit application and be approved by Royal Bank of Canada;
    • A down payment of up to 15% may be required;
    • The maximum financing term is 96 months;
    • Maximum loan amount is $75,000 (except for Investor Class Permanent Residents, for whom there is no maximum loan amount);
    • No credit history is required to finance vehicles less than ten (10) years old, provided you meet all eligibility and credit granting criteria of Royal Bank of Canada.
    • Additional conditions for RBC automotive financing may apply.

If you qualify to receive the benefit of this RBC Offer by meeting all qualifying criteria described in the Terms, the RBC Bonus Amount will be deposited into your Eligible Personal Deposit Account within eight (8) weeks of your RBC automotive loan’s activation date. To receive the RBC Bonus Amount deposit, you must have or open, and maintain in good standing, an active Eligible Personal Deposit Account at least until the above-described deposit date. If you hold more than one Eligible Personal Deposit Account, the RBC Bonus Amount will be deposited into your Primary Eligible Personal Deposit Account (as selected by you or determined by us, as applicable). If you do not have an Eligible Personal Deposit Account as of the date we attempt to deposit the RBC Bonus Amount, you will forfeit this amount and be deemed to have not qualified for the RBC Offer.

Only the Primary Applicant of the qualifying RBC automotive loan will be eligible to receive the benefit of this RBC Offer, regardless of whether there is any co-applicant on the loan account. For the avoidance of doubt, even if the Primary Applicant on the RBC automotive loan account is not an eligible Newcomer but the non-Primary co-applicant is, neither will be eligible to receive the benefit of this RBC Offer.

You may only receive the benefit of this RBC Offer once in respect of each automotive loan account you open with RBC, regardless of how many Eligible Personal Deposit Accounts you may hold with RBC. However, you may qualify to receive the benefit of this RBC Offer multiple times if you purchase, and obtain from RBC an automotive loan for, multiple eligible GM vehicles and provided you meet all applicable terms and conditions of this RBC Offer in respect of each such RBC automotive loan.

Each RBC Bonus Amount for which you qualify will be paid to only one Eligible Personal Deposit Account, no matter how many Eligible Personal Deposit Accounts you may hold during the Promotional Period. For the avoidance of doubt, this means that you will not receive any given RBC Bonus Amount multiple times in respect of the same qualifying RBC automotive loan if you hold more than one Eligible Personal Deposit Account. Additionally, any RBC Bonus Amount for which you may qualify will only be paid once, regardless of whether you have a co-borrower for the qualifying RBC automotive loan and they additionally meet the other qualifying criteria of this RBC Offer; in this case, the Primary borrower on the qualifying RBC automotive loan account will receive the RBC Bonus Amount deposited into their Eligible Personal Deposit Account (regardless of whether the Eligible Personal Banking Account is held in sole or joint ownership), and any co-borrower(s) on the qualifying RBC automotive loan will be deemed not to have qualified independently for the RBC Offer.

This offer may be combined with other RBC offers, but only to the extent permitted under the applicable terms and conditions of such other offers. Royal Bank of Canada reserves the right to modify, cancel or withdraw this offer at any time. This offer may be revoked at any time if we suspect you may be manipulating or abusing it, or engaging in any suspicious or fraudulent activity, as determined by Royal Bank of Canada in its sole discretion.

If you believe you were eligible for and qualified to receive the benefit of this RBC Offer but have not received the RBC Bonus Amount deposited to your Eligible Personal Deposit Account, you must contact us by no later than 11:59pm EST on April 3, 2025. If you fail to contact us by this date, you will be deemed to have not qualified for this RBC Offer.

Trademarks owned by Royal Bank of Canada include the following: LION & GLOBE Design, ROYAL, ROYAL BANK, RBC, ROYAL BANK OF CANADA, and other trademarks including those comprised of "RBC" or "ROYAL". ROYAL BANK and RBC are registered trademarks of Royal Bank of Canada.

Royal Bank of Canada, and not GM, is responsible for the terms and conditions applicable to this RBC Offer.

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