Dave Capps is in the business of renting vans. In order for him to stay in that business, he needs to buy new vans – 1,000 of them, to be precise. And although he's been a GMAC customer for 20 years, remains in good standing, and gets much of his current inventory financing from GMAC, he can't get the credit he needs to buy the new vans. So Capps rented a billboard in Dallas to be an appeal to anyone willing to lend him the money.

GMAC hasn't discussed why it won't give Capps the necessary credit. According to Capps, "GMAC said that they don't do vehicle loans and their new GMAC bank is prohibited from loaning money for vehicles. I have to take their word that they can't do that." We're not sure how that conversation went down, but if Capps really was told that newly minted bank holding company GMAC can't loan money for vehicles, well, we have a lot of questions.

After GMAC received a $5 billion loan from the government, it said it would open up dealer financing. A short time later, dealers said they didn't notice any opening and kept getting their credit applications rejected. While Capps isn't a dealer, he does share the need to purchase GM products to keep his business going. We don't know what GMAC's reasons are for keeping the vault locked, but we hope they're pretty good if it means turning down a guy who wants a thousand vans. Hat tip to Rick!

[Source: DFW Stangs]


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