gmac subprime credit exposure


GM to dealers: There's a bonus in it for you if you don't lend them our money

General Motors is telling its dealers that there's a shiny nickel or two in it for them if they can sell cars without getting the GMAC finance arm involved. For every sale closed with outside financing, salespeople and managers will each receive $100, with an additional $50 going to someone the dealer designates. GMAC has already cracked down on borrowers with FICO scores below 700, and this looks like another move to discourage putting GM on the hook for risky loans; let someone else take that chance, the automaker seems to be saying to its ... Read more →

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Autoblog Podcast #158: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

 
 

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