Summary Box: GM, eyeing more subprime customers, buys AmeriCredit in $3.5 billion deal

Summary Box: GM buys auto financing company

THE DEAL: General Motors Co. is buying AmeriCredit Corp. for $3.5 billion to make more lease deals and gain more access to subprime customers, crucial areas where GM wants to grow.

THE IMPORTANCE: GM, which is 61 percent owned by the government, is working to sell more cars and trucks as it prepares to sell stock to the public again. The company sees an initial public offering as a way to eliminate the government’s stake.

THE RESULT: Customers should expect more leases and subprime lending. GM currently gets just 7 percent of its sales from leases compared with an industry average of 21 percent. Four percent of its sales go to subprime buyers, matching the industry.