(Recasts to add details, analyst's comment) DETROIT, July 26 (Reuters) - The finance arm of General Motors Corp. on Tuesday said it will sell up to $55 billion in car loans to Bank of America over the next five years as part of a "landmark deal" to help secure future financing. General Motors Acceptance Corp. has seen its borrowing costs increase sharply after its debt was downgraded to high-yield or "junk" status, along with GM's earlier this year, and the loan sales help provide access ...
Premium Content (PAID Subscription Required)
"UPDATE 2-GMAC to sell BofA up to $55 billion in loans" is part of the paid WardsAuto Premium content. You must log in with Premium credentials in order to access this article. Premium paid subscribers also gain access to:
All of WardsAuto's reliable, in-depth industry reporting and analysis
Hundreds of downloadable data tables including:
• Global sales and production data by country
• U.S. model-line inventory data
• Engine and equipment installation rates
• WardsAuto's North America Plant by Platform forecast
• Product Cycle chart
• Interrelationships among major OEMs
• Medium- and heavy-duty truck volumes
• Historical data and much more!
For WardsAuto.com pricing and subscription information please contact
Lisa Williamson by email: firstname.lastname@example.org or phone: (248) 799-2642