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DONNA HARRIS

An intriguing new game: Musical finance companies

Donna Harris covers retail issues for Automotive News
It's purely speculation, but it makes for interesting reading: The Financial Times newspaper has suggested that Chrysler Financial, Chrysler's mothballed finance arm, could be for sale and that General Motors is a prospective buyer.

After all, GM was thinking about creating another captive finance company. It sold a majority stake in General Motors Acceptance Corp. to Cerberus in 2006. Then it was required by law to sell off most of its remaining interest in GMAC after GMAC became a bank holding company in late 2008.

Now GMAC isn't even GMAC anymore. It's changed its name to Ally Financial Inc.

Anyway, I find the possibility that GM and Chrysler could wind up swapping finance companies intriguing, and even funny. Musical chairs, anyone -- or should I say musical finance companies?

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