GM Buys AmeriCredit For $3.5 Billion, Wants To Give Subprime Loans Another Shot (It’s Deja Vu All Over Again)

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GM Buys AmeriCredit For $3.5 Billion, Wants To Give Subprime Loans Another Shot (It’s Deja Vu All Over Again)
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General Motors is buying AmeriCorp, a company that offers subprime loans (loans to those with poor credit), for $3.5 billion dollars. GM says the move is necessary to expand financing to those with subprime credit scores. 40 percent of Americans hold these subprime ratings, which are defined as a score below 620 on a 300… Continue Reading...