Editor's note: This story is part of the WardsAuto digital archive, which may include content that was first published in print, or in different web layouts.
GMAC is focusing on two new initiatives — daily dealer auctions of off-lease vehicles and instant clearances of loan and lease applications on an upgraded web site.
A record number of vehicles are pouring in off-lease this year for all providers, and GMAC is counting on its auction web site to facilitate their disposal back to GM dealer used-car lots.
GMAC's nonprime Nuvell division is participating in the speedy loan application system online. Nuvell Executive Vice President Marty Mattone says a special subvented rate as low as 9.9% was in effect in all 50 states on GM brands and non-GM brands sold by GM dealers.
