| While many banks have failed to pass "bailout" gains | | | | and GMAC, which is to be finalized by December 24, |
| to consumers, GMAC is using its $5 billion to get car | | | | 2013, GM will no longer be required to fund below |
| sales moving. | | | | market rate loans through GMAC and GMAC no |
| After receiving these funds, GM immediately offered | | | | longer has to finance GM vehicle leases. These leases |
| 0% financing for up to 60 months on many of its least | | | | have been costing GMAC money because of the |
| popular models. Other loans offered carried rates | | | | sharp drop in trade-in values in recent months. |
| ranging from 0.9% to 5.9% on dozens of other models | | | | This change stems from GMAC's transition to a bank |
| - and lowered the required credit score from 700 to | | | | holding company, which gave GMAC access to part |
| 621. | | | | of the $700 billion set aside to bail out the financial |
| Under the terms of a new agreement between GM | | | | industry. |