AmeriCredit
Encyclopedia
General Motors Financial Company, Inc. is a financial services
arm of General Motors
. Founded in 1992 as AmeriCredit, GM Financial provides car loans through automobile dealerships to medium- and moderate-risk customers in the United States
and Canada
. The company is located in Fort Worth, Texas
.
Before its acquisition by GM, the company ranked at 768 on the Fortune 1000
. AmeriCredit's loan paramaters would originally provide financing (at an interest rate of between 10% and 23% APR
) to clients with credit scores around 500 who can prove employment and residency, though the company has become increasingly more stringent over the past few years.
Financial services
Financial services refer to services provided by the finance industry. The finance industry encompasses a broad range of organizations that deal with the management of money. Among these organizations are credit unions, banks, credit card companies, insurance companies, consumer finance companies,...
arm of General Motors
General Motors
General Motors Company , commonly known as GM, formerly incorporated as General Motors Corporation, is an American multinational automotive corporation headquartered in Detroit, Michigan and the world's second-largest automaker in 2010...
. Founded in 1992 as AmeriCredit, GM Financial provides car loans through automobile dealerships to medium- and moderate-risk customers in the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
and Canada
Canada
Canada is a North American country consisting of ten provinces and three territories. Located in the northern part of the continent, it extends from the Atlantic Ocean in the east to the Pacific Ocean in the west, and northward into the Arctic Ocean...
. The company is located in Fort Worth, Texas
Texas
Texas is the second largest U.S. state by both area and population, and the largest state by area in the contiguous United States.The name, based on the Caddo word "Tejas" meaning "friends" or "allies", was applied by the Spanish to the Caddo themselves and to the region of their settlement in...
.
Before its acquisition by GM, the company ranked at 768 on the Fortune 1000
Fortune 1000
Fortune 1000 is a reference to a list maintained by the American business magazine Fortune. The list is of the 1000 largest American companies, ranked on revenues alone...
. AmeriCredit's loan paramaters would originally provide financing (at an interest rate of between 10% and 23% APR
Annual percentage rate
The term annual percentage rate , also called nominal APR, and the term effective APR, also called EAR, describe the interest rate for a whole year , rather than just a monthly fee/rate, as applied on a loan, mortgage loan, credit card, etc. It is a finance charge expressed as an annual rate...
) to clients with credit scores around 500 who can prove employment and residency, though the company has become increasingly more stringent over the past few years.