GM Financial’s rollout of a prime leasing program in 16 states may seem to indicate that the company formerly known as AmeriCredit is leaving its roots behind. Company officials, however, maintain that the former subprime finance company is merely sticking with the game plan General Motors set forth when it purchased the company last October: fill the finance gaps.

Since successfully piloting a new GM prime lease program in Ohio last December, the company has expanded the lease offering into 15 additional states — with eight states added last week. The goal now is to expand the program nationwide by this summer.

“We have been, historically, a subprime retail installment lender,” said Caitlin DeYoung, spokesperson for GM Financial. “When we were acquired by GM, the purpose was to fill in the financing gaps. Our main focus was to get a leasing program out and prime leasing was the first priority.”

Aside from Ohio, the prime lease program is now available in Connecticut, Delaware, Indiana, Kentucky, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island, Vermont, Virginia and West Virginia. reported F&I and Showroom.

Officials said the company also is eyeing a return to the Canadian market by the middle of the year or sooner, and has rehired Howard Cobham, its former Canadian auto finance executive, to lead that effort. His first order of business will be to roll out the prime leasing program in that market.

DeYoung said the company also is considering an expansion of its lease offerings to customers downstream on the credit spectrum. The company spokeswoman said that won’t happen until the prime program is rolled out nationally.

As for retail installment contracts, DeYoung said originations will outpace what AmeriCredit did last year, but would not offer a target increase. She added that although GM Financial is being positioned to help GM dealers, the former independent finance company will continue to serve non-GM dealers under the AmeriCredit banner.

“We are building out different products for GM dealers, but we have not stated what our target is on originations. It’ll definitely be an increase from the prior year,” DeYoung said. “Our current infrastructure is not built to take on 80 percent of GM’s business and we’re not looking to do that. What we are looking to do is provide a competitive financing option for GM dealers.”

The two top executives for GM Financial, Dan Berce, and Ally Financial Inc., Tim Russi, underscored this goal earlier this month in San Francisco at the American Financial Services Association’s 2011 Vehicle Finance Conference and Exposition, when they appeared together for the event’s annual CEO panel.

Russi talked about the benefits of Ally’s bank-holding status, saying that the company has been able to diversify its sources of funding. He also talked about the company’s recent successes in the securitization market, and acknowledged that the company must continue to mend dealer relationships that were strained during the downturn.

Berce described to the packed audience how AmeriCredit went from the brink of collapse in the spring of 2008 to survival in early 2009. And after describing the moment he learned GM was interested in purchasing the company, he fielded a question from the audience on whether his company and Ally Financial could coexist.

“GM bought us not to be the new GMAC; they bought us to plug the gaps,” Berce responded. “They bought us to bring back leasing.”

DETROIT — General Motors Co. is revisiting the idea of buying back part of its former GMAC auto loan business, half a year after it acquired a subprime loan company to help fill the role of an in-house lender, according to three people familiar with the situation.

GM executives are weighing the idea of a new approach to Ally Financial, the renamed GMAC, to give the auto maker’s dealers better access to wholesale credit, reported The Wall Street Journal.

Six months ago Ally turned down GM’s $5 billion offer for its wholesale business.

Instead, GM purchased Americredit Corp. for $3.5 billion but that lender, now part of GM Financial, is primarily in subprime consumer financing.

So far, GM hasn’t approached Ally Financial about the potential for a purchase, and there is no indication whether the lender would be open to a proposal, the people familiar with the situation said.

The U.S. government—which owns 74 percent of Ally and 26.5 percent of GM—could play a role in any such arrangement, the people said.

Ally ended up needing a government bailout after its mortgage business suffered major losses; its car-financing business remained relatively solid.

Ally and the Treasury declined to comment.

GM, far more than its rivals, depends on outside banks for the majority of its consumer lending and dealer financing. That leaves GM more dependent and exposed to risk than competitors that are able to use their in-house lenders to bolster sales in tough times.

In 2008, a move by Ally, then called GMAC, to dramatically restrict leasing amid the U.S. financial crisis helped trigger the spiral that sent GM into bankruptcy in 2009.

Ally, which received $17.2 billion in U.S. bailout funds, is readying an initial public offering for as soon as this year in which the Treasury would sell its stake in the bank. Investors will likely seek clarity on Ally’s relationship with GM and the future of its auto loan business before the company returns to the public markets.

GM Chief Executive Daniel Akerson, a former private equity deal maker, is in favor of a renewed approach to Ally, according to one of the people.

Dealers, who pay for cars and trucks when they arrive in showrooms, use wholesale credit to finance that inventory. If dealers are unable to access credit or are forced to pay high rates, they risk being unable to obtain vehicles.

GM executives want to expand its in-house lending business so the company is less vulnerable to market fluctuations, these people said.

In a downturn, “we might be exposed” to the risk of not having enough wholesale financing for dealers, GM finance chief Chris Liddell said in an interview Monday at the Detroit auto show. “It’s critical we have credit flowing in those times.”

While Mr. Liddell said he is reluctant to take a step back into the business of being a full-line lender he would consider a smaller approach.

“I am philosophically against having a $100 billion finance company attached to a $50 billion to $60 billion car company,” he said. “In a [market] downturn, we might be exposed. It’s critical we have credit flowing through those times.”

AmeriCredit, over which GM has total control, has around $10 billion in assets. Mr. Liddell said AmeriCredit could grow to around $15 billion, but not more. The captive lenders at Ford Motor Co. and Toyota Motor Corp. have assets of $108 billion and $84 billion, respectively.

“Returning to captive financing is likely a prerequisite for maintaining U.S. market share over 20 percent longer term,” Morgan Stanley analyst Adam Jonas wrote in a recent research note. “While impossible to quantify, we believe GM is ceding hundreds of basis points of U.S. market share to competitors with integrated finance operations.”

A plan to buy back the former GMAC auto lending business could have significant hurdles. Ally Chief Executive Michael A. Carpenter shot down GM’s earlier offer for its wholesale-lending operation.

Ally, under Mr. Carpenter, has made it a goal to increase the company’s auto loan operation, which also is the primary lender for Chrysler LLC.

Contention between former GM CEO Edward E. Whitacre Jr. and Mr. Carpenter further complicated the auto maker’s efforts to cut a deal with Ally. The relationship between the two companies could be different with GM’s new CEO, Mr. Akerson.

DETROIT — Ally Financial Inc. has announced that it will rebrand its GMAC consumer and dealer-related auto finance operations in the United States, Canada and Mexico and begin using the Ally name.

This follows the transition of the corporate entity to Ally Financial Inc. in May. The rebranding of the auto finance operations in these markets will take effect in August.

The Ally brand will be used for auto financing activities in the three North American markets, including activities to support the following manufacturers: General Motors, Chrysler, Saab, Thor Industries and FIAT Mexico.

“The move to the Ally name allows us to invest in a brand that we own and can build upon for the long term,” said Ally President Bill Muir. “An ally is someone you rely on to support you, and our new brand embodies our 90-year heritage as a trusted finance source for the automotive industry.”

In connection with the rebranding, Ally will be making a series of enhancements to the customer experience beginning with:

Simplifying and streamlining consumer materials and online services to offer a more straightforward approach to auto financing

Investing in enhancements to the customer service process

Offering financial tools to simplify the payment calculation process

Providing opportunities to co-brand and customize certain consumer materials with information from the manufacturer and the dealer

“While our name has changed, our primary focus and core business continues to be automotive financial services,” said Muir. “Our dealer customers and auto partners can count on our ongoing commitment to their success.”

As one of the largest automotive finance companies in the world, Ally extended more than $16 billion of credit to retail customers in the first half of 2010 in the U.S., Canada and Mexico, which represents an increase in originations of more than 120 percent from the first half of 2009. For the first six months of 2010, the company extended an average of approximately $2 billion of credit per month to consumers in the U.S.

Chris Liddell, chief financial officer of General Motors, said: “As we enter an exciting new chapter in GM’s history, Ally remains an important partner and auto financing provider for GM customers. We look forward to continuing that relationship.”

Richard Palmer, CFO of Chrysler Group LLC, added: “In taking over the financing of so many Chrysler dealers in such a short time Ally has shown itself to be a strong partner for Chrysler and our dealership network. Ally has proven to be a trusted and reliable source of financing with an in-depth knowledge of the auto industry.”

The company’s U.S.-based auto finance products and services will transition from GMAC to Ally Financial on Aug. 23. The auto finance operations in Mexico and Canada will adopt the name Ally Credit on Aug. 16 and Aug. 23, respectively. There will be no change to current customer accounts or billing cycles. Ally’s auto financing operations outside of North America will continue to operate under the GMAC brand as options for further use of the brand are evaluated.

DETROIT – GMAC will begin accepting retail finance applications for new and used recreation vehicles from Thor Industries dealers in 14 high-volume states.

GMAC was named the official preferred retail financial services provider for Thor in April. It will initially offer financing through RV dealers in Alabama, California, Colorado, Florida, Georgia, Maryland, North Carolina, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia and Washington, expanding nationwide by year-end to all qualified dealers in Thor’s U.S. network.

Thor is the world’s largest manufacturer of recreation vehicles, including brands such as Damon, Four Winds, Airstream, Dutchmen, Komfort, Breckenridge, CrossRoads and Keystone RV.

“We are very pleased with the relationships we’re developing with Thor dealers since the announcement, and our systems are now ready for business in the RV market,” said Tim Russi, executive vice president of GMAC North American Operations. “The RV business has been recovering steadily with improvements in the economy, and we are committed to supporting RV dealers in their sales efforts.”

“Thor is very excited to bring this new preferred relationship with GMAC to our Thor dealers,” said Ron Fenech, group president of Thor RVs. “Retail financing is a vital part of the RV business and GMAC brings credibility and resources that will benefit our entire industry.”

General Motors Co. may return to the auto-lending business more than three years after selling control of GMAC LLC, three people familiar with the company’s plan told Bloomberg.

GM may buy back the GMAC business, start a new finance unit or form a partnership with banks and other lenders, said the people, who asked not to be identified because details are private. Chief Executive Officer Ed Whitacre wants to form an in-house lender before selling shares in GM as soon as the fourth quarter, one person said.

Having a so-called captive credit arm may boost GM’s profit, enable dealers to offer better terms on leases and loans, and make an initial public offering more appealing to investors, said Rebecca Lindland, an IHS Global Insight analyst in Lexington, Mass.

“The IPO is going to be more of a success if they can sell more vehicles than they have been selling,” Lindland said. “They should be able to do that if they can be more aggressive in their financing. Having their own finance company would certainly help.”

Whitacre has his management team exploring all options, the people said. Tom Wilkinson, a GM spokesman, declined to comment.

GMAC is now known as Ally Financial Inc. and is 56 percent owned by the U.S. Treasury after an injection of $17.2 billion under the Troubled Asset Relief Program.

Meg Reilly, a Treasury Department spokeswoman, had no immediate comment, and Ally’s Gina Proia said an acquisition of its auto-finance business by GM was “speculation.”

DETROIT – The transition of the corporate brand to Ally Financial Inc. from GMAC Inc. (or GMAC Financial Services) has been completed. The brand change to Ally is part of the company’s strategic decision to implement a corporate brand that it owns and can be developed over the long term, General Motors reported.

“The company has marked a number of significant accomplishments so far this year,” said Ally CEO Michael A. Carpenter. “As we begin the next chapter under the Ally Financial brand, we will continue our progress in executing our strategic objectives and remain focused on our commitment to customers.”

Carpenter continued: “Our customers are critical to our success, and we believe the Ally brand represents our goal to deliver competitive products and excellent service to all of our customers as we take the next steps in building on our 91-year history.”

The Ally brand was first introduced at Ally Bank in May 2009 and is now adopted at the parent company. There will be no change to the branding of the company’s operating units at this time. Options to use the Ally brand more broadly within the company are currently being evaluated; however, decisions have not been finalized.