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I had no idea their lending arm, GM Financial, was going down this slippery slope. You'd think they would learn from the past, but apparently not.
This snippet from the article linked above says it all:
"GMF has the riskiest lending portfolio of any major car company: 96 percent of its customers have credit scores below 660. GM’s lending habits parallel those in the housing market leading up to the 2008 crash…GM finished the year with 8.5 percent of loans in delinquency, the highest rate since 2010 and larger than the delinquency rates at Ford, Toyota, and Honda combined"
It may move cars off the lots today, but doesn't bode well for the future.
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