The General Motors acquisition of AmeriCredit could signal that more GM dealers will have access to a lender that offers car loans with bad credit.

Good news

The news from both General Motors and AmeriCredit that the automaker's acquisition of the Texas-based subprime lender is about to become official is probably good news for many bad credit customers. We should know, because here at Auto Credit Express we've been working with credit-challenged car buyers for over two decades. We even developed a web site so that we can accept applications and match up these applicants with local dealers that specialize in customer credit issues so that they have the best chance of getting approved for a car loan, even if that means auto loans for bad credit.

We did this because consumers with serious credit problems often experience frustration and embarrassment when shopping for a car and applying for financing. In addition, getting turned down at a car dealer can lead many buyers to a tote the note or buy here pay here car lot, a choice that usually won't improve their car credit and a finance situation that often leads to repossession.

But even when a car shopper decides to take the bad credit car loan approach, there are issues other than qualifying for a loan that can complicate the process, not the least of which is finding a dealer with the right mix of lenders. But recent news from General Motors and bad credit lender AmeriCredit could certainly be good news for credit-challenged buyers.

GM Financial

Earlier this year, GM announced that it planned on acquiring AmeriCredit, one of the larger national non-prime lenders. Today, that became official, with GM announcing that, as of October 1st, AmeriCredit would be known as GM Financial and become part of the company.

Although AmeriCredit currently has relationships with 4,000 General Motors dealers, buyers with bad credit might now have an easier time getting financed at a GM dealer.

GM's chief financial officer, Chris Liddell, summed it up this way, “With AmeriCredit providing us niche capabilities in leasing and non-prime financing, along with the continued strong support of Ally Financial and others for prime retail and dealer financing, we've set up a very competitive solution for our financing needs…”

So does this change mean that customers with bad credit can now walk into any GM dealership and be sure that that they are getting the best chance to get financed on a car? Not really.

Lender portfolio

Unfortunately, no on single lender can handle every kind of bad credit situation. To be really effective, a dealer that specializes in bad credit auto loans needs to be signed up with a number of subprime lenders in order to handle the credit problems of as many kinds of customers as possible. And the best way to find those dealers is to apply online at a web site that knows who and where they are.

The Bottom Line

At Auto Credit Express, we specialize in placing customers with bad credit with dealers that can help them. In the process, we have helped thousands of people with bad credit buy cars and reestablish their auto credit through our nationwide network of affiliate dealers that specialize in bad credit car loans.

So if you are serious about getting your credit back on track, why not begin a new chapter in your life by filling out our bad credit car loan application now.