Despite agreement with AmeriCredit, GM said to keep deal with Ally

Zach Bowman — Sun, 25 Jul 2010 12:32:00 EST

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]

Despite agreement with AmeriCredit, GM said to keep deal with Ally originally appeared on Autoblog on Sun, 25 Jul 2010 12:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments

GM: Take our cars please! - 0% financing extended until 7/07

Dan Roth — Tue, 01 Jul 2008 13:59:00 EST

Filed under: Car Buying, Etc., Marketing/Advertising, GM

This Independence Day might be the time for waving the red, white, and blue, but GM wants to nab some green, too. The automaker is extending its 0-percent financing sale, which it kicked off on June 24th as the "72-hour sale," until July 7th. The extension of the special financing offer allows dealers to capitalize on the increased floor traffic that GM's advertising onslaught generated. The sale and advertising frequency get people in the door, but many car buyers hem and haw, making it tough to close a deal in just a week's time. The extension gives salespeople a reason to ring up prospects and offer them the sweetest deal they can muster on a new General Motors vehicle. While we'd love to get a C6 Corvette for $20,000 off invoice and 0 percent terms on the loan, our blogging income likely supports a Certified Used vehicle instead. On that end, GM is also offering financing between 2.9 and 4.9 percent on a raft of used models like the Impala, Malibu, Envoy, G6, and Lacrosse. These are the most favorable terms you're likely to ever find, until someone starts desperately handing out -1% financing whereupon they pay you to take the car.

[Source: Automotive News - sub. req'd]

GM: Take our cars please! - 0% financing extended until 7/07 originally appeared on Autoblog on Tue, 01 Jul 2008 13:59:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments