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Old 04-02-2009, 12:35 PM   #1
XDCX
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Smile GMAC makes major concessions to help dealers

There have not been many kind words expressed for GMAC on this forum, and rightly so. GMAC has a horrible track record of supporting their dealers over the past year.

To their credit, GMAC is making some major concession to assist their dealers:
  • They've agreed to start accepting some contracts from sub-620 FICO customers
  • They've agreed to eliminate curtailment payments for April
  • They'll allow qualified dealers to defer flooring interest payments for up to two periods over the next four months
These changes should be a huge relief for dealers who have cash flow concerns as a result of pending curtailment payments.

It will be interesting to hear if GMAC's buying practices actually live up to the expectations stated in the news report.

Here's a link to the news report: http://www.freep.com/article/2009040...SS01/904020386
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Old 04-02-2009, 03:33 PM   #2
okcarl
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I have to say that GMAC has gotten a lot more competative with their rates in the last couple of months. They are far from perfect but I am happy that they are at least making an effort.
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