GMAC (or GMAC Financial Services), formerly known as General Motors Acceptance Corporation, was previously the wholly owned financial services arm of General Motors.

GMAC Financial Services provide a suite of financial programs including automotive financing, insurance and mortgage operations in approximately 40 countries around the world.

GMAC also operates Nuvell Financial Services and Semperian within its automotive financing division. While the main GMAC specializes in the financing of new and Certified Pre-Owned ("used") GM vehicles, Nuvell is the subprime lending arm of GMAC for GM associated dealerships. Nuvell also operates National Auto Finance which provides non-GM dealerships access to an additonal subprime lending source, and recently a prime product. Semperian provides customer relationship management, servicing, and collection through several inbound call centers across the US, primarily for customers residing in the GMAC portfolio. Its other businesses include ResCap Holding, an umbrella company for GMAC's residential mortgage business, and GMAC Home Services, a real estate services subsidiary. As well, it is an associate sponsor of all Hendrick Motorsports racing teams.

ResCap Holding is the parent for GMAC Mortgage, GMAC-RFC, GMAC Bank, Ditech.com, and Homecomings Financial.

GMAC Home Services is the parent for GMAC Real Estate, formed by the purchase of Better Homes and Gardens Real Estate in 1998, GMAC Global Relocation Services, and GHS Mortgage.

Divestiture

To raise money for reorganization, General Motors divested various assets including GMAC. This divestiture was accelerated at the prompting of investor Kirk Kerkorian and his former representative on GM's board, Jerome York.

On March 23, 2006, General Motors announced that it completed the sale of a 78% interest in GMAC Commercial Holding, its commercial real estate subsidiary, for $1.5 billion in cash to a private investment group including Kohlberg Kravis Roberts & Co., Five Mile Capital Partners and Goldman Sachs Capital Partners. The deal includes the payoff of all intracompany debt owed to GMAC, bringing the total value of the deal to $9 billion. The new entity, in which GMAC owns a 21% interest, is known as Capmark Financial Group, Inc.

On April 3, 2006, GM announced that it would sell 51% of GMAC as a whole to a consortium led by Cerberus Capital Management, raising $14 billion over 3 years. Investors also include Citigroup's private equity arm and Aozora Bank of Japan. The group will pay GM $7.4 billion in cash at closing. GM will retain approximately $20 billion in automobile financing worth an estimated $4 billion over three years. The sale was completed in November 2006.