Despite a $10 billion 2009 loss and a recommendation by the Congressional Oversight Panel to break up the financial firm, Saab – now under the full control of Spyker Cars N.V. – has named GMAC as the preferred lending arm of the Swedish automaker.
Per the contract with Spyker, GMAC Financial Services will take over immediately as the preferred lending arm of Saab and its network of 500 worldwide dealers. GMAC will provide dealer financing as well as retail auto loans.
“We’ve had a long-term relationship with these dealers when they were a part of GM,” Tony Sapienza, a GMAC spokesman, said. “It’s an easy transition.”
According to Sapienza, GMAC already provides retail financing through Saab dealers and the majority of Saab dealers use GMAC for inventory financing. Agreements already in place will be retained.
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1. ‘GMAC will be Saab’s…’ view
