Outlining the strategy, which also unifies the three in-house brands under the GMAC financial service banner, Colin Tapsfield, UK marketing manager, says: “Our new approach offers expertise and resources to high-volume, used-car operators outside the GM family. We thrive in rapid turnover, 'deal and deliver' environments.”
At present, through its parallel On-line Finance channel, which continues to function, GMAC deals with 100 non-GM dealers, predominantly used car outlets.
Trade press ads will be the main means of attracting the incremental finance and insurance outlets, but Tapsfield adds: “We don't want Mom and Pop cornershop dealers. Our field staff will assess standards and potentials of businesses, sites and employees.
“We want good quality product and professional presentation for used vehicles.”
On-line Finance will be critical to gaining conquest business from non-GM mainstream or premium-brand new car franchises. “Obviously for a Ford or VW seller it will be more comfortable to offer finance to customers through a pseudo-independent brand like On-line Finance,” says Tapsfield. GMAC's born-again operation expects to continue absorbing business previously handled by the defunct First National finance provider. It also believes there is scope to service multi-franchised retailers dealing with resistance from customers reluctant to use finance facilities from another brand within a group.
Tapsfield says the company would “anticipate the post-block exemption trading revolution and financial service sector reforms”.