| AmeriCredit Corp. is an independent auto finance company. The Company purchases auto finance contracts for new and used vehicles purchased by consumers from franchised and select independent automobile dealerships in its dealership network. AmeriCredit Corp. previously made loans directly to customers buying new and used vehicles and provided lease financing through its dealership network, but terminated those activities during the fiscal year ended June 30, 2008 (fiscal 2008). The Company predominantly targets consumers who are typically unable to obtain financing from banks, credit unions and manufacturer captive auto finance companies. Funding for AmeriCredit Corp.'s auto lending activities is obtained through the utilization of its credit facilities and the transfer of loans in securitization transactions. The Company services its loan portfolio at regional centers using automated loan servicing and collection systems. |
