GMAC North American Finance Renamed "Ally"

Ally Financial, formerly known as GMAC, has decided to rebrand most of its products with the Ally name. Ally is a 91 year old company that was formerly known as GMAC. Ally Financial provides vehicle loans for models such as the Ford Escape. There are several dealerships that now use Ally Financial for their financing needs such as your local VW Dealer and other dealers.

The change will occur in August, and the name was changed to Ally Financial last May. Nissan Lake Havasu and other Nissan dealerships now work with Ally Financial to provide their customers with auto loans. GMAC stood for General Motors Acceptance Corporation and was once a division of General Motors, but it separated from the company in 2006. Since then, it has been attempting to change its image from being known merely as a branch of General Motors. Now, the company services loans and financial products of various types and deals with several different automakers.

GMAC used to work exclusively with the Saab, Chrysler, and General Motors brands. Other companies that worked with GMAC exclusively were Fiat and Thor Industries. The company will only be known as Ally Financial in the United States and it will continue to operate under the name GMAC in international markets.

President Bill Muir said, “An ally is someone you rely on to support you, and our new brand embodies our 90-year heritage as a trusted finance source for the automotive industry.” This 90 year history is a large part of American consumer financing history and Ally Financial will continue to be a major source of financing for the American market.

The company provided $16 billion of credit to Americans for the first half of 2010 and there looks to be no signs of it slowing down anytime soon with about 6 million more expected auto sales for the rest of 2010.