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WASHINGTON (Reuters) – The U.S. Treasury’s decision against a bankruptcy restructuring for GMAC may have increased taxpayer bailout costs for the auto finance company and made it less viable, an.
WASHINGTON (Reuters) – GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy. The Federal.
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NEW YORK (CNNMoney.com) — In yet another move to prop up the crumbling U.S. auto industry, the government announced monday that it will pump $6 billion into GMAC Financial Services, a financing.
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General Motors looks to be taking the GM out of GMAC. The auto maker says it won’t try to regain control of its former finance arm, GMAC Financial Services. GM had contemplated the idea because it.
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GMAC auto financing is a popular option for many new and used car buyers. GM car dealerships dominate the automobile buying landscape so financing your car through their financing arm, GMAC Financial Services, makes the car-buying process much simpler, especially for those buying a GM vehicle.
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GMAC Inc., the auto and home lender that lost more than $10 billion last year, posted a quarterly profit as U.S. car sales recovered and said it plans to adopt Ally Financial Inc. as its new name.
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