GM Plans Leasing Return with AmeriCredit Move

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Sub PrimeNews - July 21, 2010

Since the near col­lapse of GMAC dur­ing the finan­cial cri­sis, GM has seen its lease pen­e­tra­tion dras­ti­cal­ly cut, and sub-prime buy­ers have had a dif­fi­cult time obtain­ing an auto loan to pur­chase a GM vehi­cle. The Detroit automak­er hopes the acqui­si­tion of Ameri­Cred­it for $3.5 bil­lion in cash will help solve these prob­lems. The sale, that came togeth­er quick­ly, is set to close in the fourth quar­ter.