Helping auto dealers be successful

The invention of the assembly line changed the way the auto industry did business. To keep factories running smoothly, manufacturers needed auto dealers to buy vehicles in large quantities. In 1919, we opened our doors as GMAC, a division of GM, to help dealers finance and maintain their inventory and keep up with consumer demand.

Making auto financing more accessible

In the early 1920s, people looking to buy a car or truck had to pay cash or secure their own financing from banks that didn’t typically issue loans for automobiles. We made it convenient for customers to get financing right at the dealership. During the Great Depression, car manufactures began segmenting vehicles by cost, from low-price to luxury models. We introduced this pricing concept to the public with our slogan "A car for every purse and purpose."