|Type||Subsidiary of GM|
|Headquarters||Fort Worth, Texas, U.S.|
|Area served||United States and Canada|
|Key people||Daniel Berce (CEO)|
|Revenue||US$ 1.961 billion (2012)|
|Operating income||US$ 774.2 million (2012)|
|Net income||US$ 463.1 million (2012)|
|Total assets||US$ 16.20 billion (2012)|
|Total equity||US$ 4.379 billion (2012)|
General Motors Financial Company, Inc. is a financial services arm of General Motors. Founded in 1992 as AmeriCredit, GM Financial provides car loans through automobile dealerships to medium- and moderate-risk customers in the United States and Canada. The company is located in Fort Worth, Texas.
Before its acquisition by GM, the company ranked at 768 on the Fortune 1000. AmeriCredit's loan parameters would originally provide financing (at an interest rate of between 10% and 23% APR) to clients with credit scores around 500 who can prove employment and residency, though the company has become increasingly more stringent over the past few years.
Acquisition by General Motors
In July 2010, General Motors entered into a definitive agreement to acquire AmeriCredit in an all-cash transaction valued at approximately $3.5 billion. The deal provided GM with a new financial arm to replace the loss of GMAC in 2006. Following the approval of the deal by AmeriCredit shareholders on September 29, GM rebranded the company as GM Financial.
- "2011 Form 10-K, General Motors Financial Company". United States Securities and Exchange Commission. February 27, 2012.
- "Fortune 500 2009: Top 1000 American Companies". Fortune. 2009-05-04. Retrieved 2009-11-06.
- "GM to Acquire AmeriCredit". PR Newswire.
- "Shareholders OK sale of AmeriCredit to GM". The Detroit News.