• Jul 25, 2010
General Motors may be in the process of acquiring AmeriCredit as a step toward securing a captive in-house financing operation, but the company says it will continue to nurture its relationship with Ally. As you may recall, Ally (formerly GMAC) has financed dealer floor plans for years, and GM says that it will continue to rely on its former financing arm for that very reason. While AmeriCredit has been able to weather the rise and fall of consumer confidence with nary a scratch, the company doesn't boast same level of assets as other lenders. Note also that AmeriCredit has next to no experience financing dealer floor plans, and it's easy to see the holes in GM's financing strategy.
Ally seems happy to fill in those bald spots. According to Automotive News, the company provided financing for around a third of all GM vehicles sold at retail during in the first quarter of 2010 and 90 percent of The General's vehicles in inventory. That leaves AmeriCredit to take care of subprime borrowers and leasing duties. Consider the two the dynamic duo of GM financing.

[Source: Automotive News]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 3 Comments
      • 4 Years Ago
      Someone educate me... does that mean if I go into buy a Malibu or whatever and I have poor to fair credit, my financing will be done by AmericCredit? I'm trying to figure out who will be approving my financing for a GM vehicle. I guess for now it's just Ally? But then how will it work? Thoughts?
      • 4 Years Ago
      Yes Utah, Americredit will handle around 650 scores and lower and will also allow GM to get back into leasing. This is all good for GM
      • 4 Years Ago
      "That leaves AmeriCredit to take care of subprime borrowers and leasing duties. Consider the two the dynamic duo of GM financing"

      Sounds like the dynamic duo of GM's next bankruptcy.