Mary @ CUES commented (on an old post) with some great information and a question! I had heard from my dealers about the 700+ score cutoff for getting a loan with GMAC, but not about the marketing list/ money. Does anyone have information about this? If so, PLEASE share! Mary’s comment is posted below.
“… I just read that GM is making a push to get people to buy cars with other-than-GMAC financing (which you can only get with a 700+ credit score). According to Autoblog.com, “starting Friday, GM will launch a ‘Financing That Fits’ campaign on a national level. Through advertising on television, newspaper, radio, and the Internet, GM will promote dealer financing with GMAC Financial Services and, for the first time, with other lenders.” AP says this involves a 6-year-old database that “lets dealers locate banks, credit unions and other lenders willing to make loans based on a buyer’s credit information.”
Does anyone know about this database and whether they are in it? Is this a good opportunity to make loans if there are some serious GM buyers out there?”
This could be a great way for CU’s with indirect lending ties to get some free marketing money!!
