The stage seems set for General Motors Co. to employ AmeriCredit to pump up dealers' lease business sooner rather than later.
Especially since GM's current primary lender, Ally Financial Inc., has made no apologies for refusing to match other automakers' captive finance companies in terms of monthly lease payments, at least not without the same subsidies that a captive finance company enjoys.
“There are risks which we do not want to take,” Ally CEO Michael Carpenter said during the lender's second-quarter conference call with analysts and reporters Aug. 3. “If you're the manufacturer, there are risks you want to take (to achieve more volume), and with your economic position, you can take them. Their margin is about 10 times our margin, so they can take more risks than we take.”