Ram trucks use GMAC financing - why?

I’ve been seeing ads on TV for Ram Trucks (formerly Dodge Ram, but now their own division). At the end of the ad, the announcer and the on-screen graphics talk about discounts and incentives with GMAC financing.

I thought that GMAC was a division of General Motors (General Motors Acceptance Corporation) and they did financing for GM Cars, while Chrysler Financial did financing for Chrysler vehicles. I know they did when we bought our Dodge truck in 2003.

Why this crossover in financing arrangements? Is it something to do with the recent financial problems with GM and Chrysler?

GMAC is no longer a division of GM. It’s now 51% owned by Cerberus Capital Management. (BTW, if you remember those commercials you’re seeing for Ally Bank, that’s GMAC’s new name.) Cerberus also owns a majority stake in Chrysler.

Because Chrysler went bankrupt Cerberus no longer owns any part of Chrysler.

Although all of the above is true, individual dealer groups are also free to choose who can offer financing to their customers. My brand new (then) 1995 Honda Civic EX was financed via GMAC at the Honda (non-GM) dealer. It was the best financing we could find (they beat my own, carried-in financing, in fact).

That particular dealer may have another branch that sold GM’s. I’m unsure, because it seems that in Texas related dealers don’t share branding, as is common in Michigan.

Also, the Feds ordered Chrysler Financial to wind down their operations. By the end of the year, they’re supposed to be out of business. That means Chrysler needs a new source of financing, and GMAC is it.