UPDATE 1-GMAC expands auto lending following government aid

Newswire

NEW YORK, Dec 30 (Reuters) - GMAC on Tuesday said it will immediately begin providing auto financing for more U.S. consumers, a day after agreeing to sell a $5 billion stake to the government. The company said it will provide financing to retail buyers of cars and trucks who have credit scores of 621 or higher. In October, it had restricted loans to borrowers with scores of 700 or higher as the credit crisis deepened. Many analysts consider a score of 620 to be the dividing line between ...

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