Quote Originally Posted by bailey View Post
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.