Sources say that more than three years after selling control of GMAC LLC, General Motors Co. could return to the auto-lending business. These insiders, who are familiar with GM’s plan but decline to be named, say that GM may buy back the GMAC business, start a new finance company or form a partnership with banks and other lenders.
GM’s profit could increase if it has its own finance arm. This would then give its dealers competitive leasing and loan offers. One of the sources also said that CEO Ed Whitacre aims to put up an in-house lender before taking the company public again as early as the fourth quarter of this year.
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