Article: GMAC bets on greater demand for wear-and-tear plans.(NEWS)

Byline: David Kushma

As General Motors Co. returns to vehicle leasing, its former finance company again is promoting wear-and-tear insurance to customers as a way to prevent unexpected charges at the end of a lease and to dealers as a way to build loyalty and repeat business.

SmartLease Protect, offered by GMAC Insurance, provides limited coverage of as much as $5,000 for wear and tear on a leased GM car or truck. The insurance also waives the lease customer's security deposit.

The retail price of the coverage ranges from $539 to $639, based on the length of the lease. GMAC declined to disclose the wholesale price of the insurance, although ...

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