GM to Buy AmeriCredit Bank - Move to Detroit

**MotownSpartan** · July-22-10, 08:21 AM

GM is buying Ft. Worth Texas based Americredit Bank for 3.5 Billion dollars. Any chance they will move the bank's HQ from Texas to Detroit?

http://news.yahoo.com/s/ap/20100722/...auto_financing

**313WX** · July-22-10, 08:32 AM

It would only be fair afer they "stole" Comerica Bank from us.

While I understand there's more than plenty of empty space in the RenCen, I would love for them to move into 1001 Woodward.

However, judging from some of their reviews I've looked up, they're not the best company to associate with...

**Corn.Bot** · July-22-10, 08:50 AM

[quote=313WX;165746]While I understand there's more than plenty of empty space in the RenCen, I would love for them to move into 1001 Woodward.
quote]
Coincidence that you mention that specific address. I just minutes ago read a column that also does: http://www.detnews.com/article/20100...ses-to-Detroit

**bailey** · July-22-10, 09:14 AM

didn't GM already own a bank/financing arm once? could have sworn they did. how'd that turn out again?

Retroit · July-22-10, 09:20 AM

Must be nice to have $3.5 billion "lying" around only one year after filing bankruptcy.

**DetroitPlanner** · July-22-10, 09:25 AM

Originally Posted by bailey

didn't GM already own a bank/financing arm once? could have sworn they did. how'd that turn out again?

GMAC was bought by the three headed dog who combined it with Chrysler Credit, once it got its greedy hooks into the pentastar. It is now known as ALLY bank, but does still have some retail operations serving as GMAC.

ALLY currently has the the best CD rates in the States [[which ain't saying much).

GM's purchase of this new bank was to help it service people with credit problems. If you have seen the cost of a new GM lately, and you have credit problems, and some sense, you would purchase a used one instead of a new one.