General Motors Acceptance Corporation - GMAC - 1970's-80's dated Autmotive Bond - Available in Purple or Brown - Please Specify Color Needed
Inv# AB5010 Bond
Various denomination Bonds. American Bank Note Co. Available in Purple or Brown. Please specify color.
General Motors Acceptance Corporation (GMAC), established in 1919, initially served as a specialized financing arm for General Motors. Its primary objective was to assist dealers in financing their inventories and provide retail customers with credit to purchase vehicles. By pioneering the use of installment plans for mass-market consumer goods, GMAC played a pivotal role in transforming the American economy and expanding the automotive market beyond those who could afford to pay in full upfront. Over the years, it evolved from a simple auto lender into a global financial powerhouse. In 1939, GMAC diversified its operations into insurance, and in 1985, it ventured into residential mortgages.
In the 21st century, GMAC underwent a significant transformation following the global financial crisis. In 2006, General Motors sold a 51% controlling stake in the company to a consortium led by Cerberus Capital Management. Subsequently, after receiving substantial federal assistance during the 2008–2009 automotive industry bailout, GMAC officially rebranded as Ally Financial in May 2010. This rebranding aimed to distance itself from its former parent company and pivot towards digital banking. While Ally operates independently today, General Motors established a new captive finance arm, GM Financial, in 2010. This new entity was created to continue providing direct credit support for its vehicle sales.
A bond is a document of title for a loan. Bonds are issued, not only by businesses, but also by national, state or city governments, or other public bodies, or sometimes by individuals. Bonds are a loan to the company or other body. They are normally repayable within a stated period of time. Bonds earn interest at a fixed rate, which must usually be paid by the undertaking regardless of its financial results. A bondholder is a creditor of the undertaking.
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