According to Los Angeles Times reports, General Motors is looking to get back into the auto finance game, with a little help from AmeriCredit Corp. The beleaguered automaker plans to purchase AmeriCredit for $3.5 billion in cash. That’s $24.50 per share. AmeriCredit will fill the void left by GMAC –which spun out of control during Read on! →


Congress roasts GMAC, suggests future stimulus in jeopardy In the recently released “January Oversight Report: Exiting TARP and Unwinding its Impact on the Financial Markets,” the Congressional Oversight Panel looked over the entire $700 billion TARP bailout. Among many topics across our nation’s economy, they paid particular interest to charges that GMAC received “special treatment” Read on! →


Ally Financial Inc., which sopped up $17.2 billion in U.S. automotive bailout funds, needs to be cut up, says the U.S. Treasury. Automotive News reports the Treasury has recommended that auto finance company Ally be broken up and sold, preferably back to original owner General Motors. Bloomberg notes that this has much to do with Read on! →


Ally Financial (formerly GMAC Financial Services) is preparing to originate auto loans that should please any car buyer who has suffered through an upside down loan. The Detroit Free Press reports that Ally will offer car loans in America’s five most highly populated states that will enable borrowers to sell their cars back to Ally Read on! →