General Motors (GM) Buying AmeriCredit Corp

By Jamie Pert - Jul 22, 2010

It has recently been revealed that General Motors Co are getting back into the credit business, this was revealed earlier today when GM stated that they are planning to purchase AmeriCredit Corp.

This deal is said to be worth approximately $3.5 billion, this equates to around $24.50 and should result in dealers having more options when trying to seal a finance deal when selling a vehicle.

This should be a good thing for consumers as dealers will have more flexibility with both lease and finance deals. GM’s chief executive, Ed Whitacre summed things up with this statement “Adding AmeriCredit to our team will improve our competitiveness in auto financing offerings, and I am very pleased to have them on board”.

In the long run customers with poor credit ratings could perhaps finalize deals which at one time they would be refused, one analyst suggests that this new flexibility could “account for as much as a quarter of auto sales this year”.

If you would like to find out in-depth information about the acquisition check out the source link below.

Source: LATimes

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