UPDATE 1-GMAC sees cheaper funding boost but after time lag


(Adds Ford Motor Credit in paragraph 17) By Quentin Webb AMSTERDAM, April 26 (Reuters) - General Motors Acceptance Corp.'s chief financial officer said it would take time for cheaper funding, driven by better credit ratings, to boost profits, while high interest rates might hinder its performance. General Motors , the world's biggest car maker, agreed earlier this month to sell 51 percent of GMAC to a consortium led by hedge fund Cerberus Capital Management, hoping to return the unit ...

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