GM finance unit to limit car loans
- Share via
From Times Wire Services
GMAC, the consumer finance arm of General Motors Corp., will limit auto loans to customers with credit scores of at least 700, making it harder for some customers to buy a car or truck.
GMAC also raised the rate it charges auto dealers for making loans that aren’t part of special incentive programs, the Detroit-based company said. Most loans will be limited to 60 months, according to a letter sent to dealers.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
