GM-AmeriCredit deal may create more car leasing options
Car buyers who balked at a new purchase because they couldn’t find a
car leasing plan that fit their budget may want to start looking at GM brands such as Chevrolet, Buick, GMC and Cadillac.
Future GM customers may have more car leasing options available to them, thanks to a deal the automotive company struck to purchase a large car-financing business.
Today, GM bought AmeriCredit corporation for $3.5 billion in what the company says will be a way to reach more subprime car loan customers.
The deal is reportedly expected to close by the end of the fourth quarter and both companies state they hope it will bring about more financing options for customers.
“This acquisition supports our efforts to design, build and sell the world's best vehicles by expanding the financing options we can offer to consumers who want to buy GM vehicles,” said GM chairman and CEO Ed Whitacre.
The deal was equally good for AmeriCredit, as the company’s shares went up as much as 22 percent.
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