12-30-2008, 10:30 PM | #1 |
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GMAC lowers FICO Score to 621
In an immediate response to the Treasury Department's injection of $6 Billion GMAC advised their dealers that they will now accept credit applications from customers with FICO scores above 620. Previously GMAC had limited credit to customers with FICO scores in excess of 700.
In another effort to boost sales, GM announced that they were offering 0% financing for 60 months on select vehicles. Here's a link to the news report: http://online.wsj.com/article/SB123064252570542267.html It's nice to actually have some good news to report. |
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