GM Buys Financial Freedom Through AmeriCredit But Still Has An Ally

General Motors Corp (GM) will have the freedom to go ahead with the vehicle financing strategies it believes will be most beneficial to its sales, including leasing and sub-prime lending, after agreeing to acquire Texas-based AmeriCredit Corp for US$3.8bn. After the financial reform bill was passed earlier in July, from which auto dealers are exempted, BMI stated that the advantages of providing its own finance through dealers without the restrictions now faced by banks could prove to be too tempting for GM. This appears to be the case as it will now be able to offer financing on its own

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