Saturation of the junction voltage in GaN-based laser diodes (LDs) is studied. It is found that there is a bump above the lasing transition in the I(dV/dI)-I curve, instead of a dip as that for GaAs-based LDs. The bump in I(dV/dI)-I curve moves to higher currents along with the lasing threshold. A model considering ambipolar conduction and electron overflow into p-AlGaN cladding layer due to poor carrier confinement in active region is used to explain the anomaly. The characteristic temperature of GaN-based LD is obtained by fitting threshold currents determined from I(dV/dI)-I curves. Moreover, it is found that GaN-based LDs show characteristics with a nonlinear series resistance, which may be due to the electron overflow into p-AlGaN cladding layer and the enhanced activation of Mg acceptors.