FI showroom red and grey logo
MenuMENU
SearchSEARCH

Wells Fargo Expands GM Relationship, Eyes Other Automakers

Wells Fargo officials told Bloomberg that it would like to expand its relationship with General Motors. A bank official also said the company is interested in expanding its offerings to other automakers.

by Staff
August 16, 2012
2 min to read


SAN FRANCISCO — The agreement between General Motors and Wells Fargo for consumer and commercial financing has expanded, Bloomberg reported Tuesday. The bank, which announced earlier this year that it signed on with GM to provide financing to Chevrolet, Buick, GMC and Cadillac dealers and customers in the western region, is now working with GM dealers in the south central region.

Tom Wolfe, who heads up the new Wells Fargo Consumer Credit Solutions, told Bloomberg that the bank would like to expand its relationship with GM even further. He added that the current program offered to the automaker’s dealers can be offered to other OEMs as well.

Ad Loading...

The two companies rolled out their partnership in early March. The agreement allowed Wells Fargo to offer GM dealers a complete suite of financing products, including subvented and nonsubvented retail financing. At the time, GM distributed captive offerings through GM Financial and Ally, as well as a leasing program through U.S. Bank.

The expansion of Wells’ reach into the south central region comes after GM made a bid to reacquire parts of Ally Financial Services. The automaker, through GM Financial, is interested in its former captive’s international operations, and joined a number of other financial institutions bidding for the business unit.

To read Bloomberg’s full report, click here.

Announced on March 2, the agreement between Wells Fargo and GM waallowed the bank to offer GM dealers a complete suite of products alongside the core offering retail subventionThe agreement, officially announced on March 2, called for Wells Fargo to bid on subvented loans made.

Wells Fargo & Co. is enticing General Motors Co. customers with an expanded auto-loan plan, challenging the operations of Ally Financial during its changeover, Bloomberg reported Tuesday.

Ad Loading...

According to Bloomberg, GM already selected Wells Fargo to provide financing to Chevrolet, Buick, GMC and Cadillac dealers in the U.S. west marketing region, as well as the south central region. And according to Tom Wolfe, executive vice president of consumer credit solutions of Wells Fargo, the company intends to expand further.

“We like the relationship, so we’d certainly like to think about expanding it,” Wolfe said in an Aug. 10 Bloomberg interview. It’s a program “we can offer to other manufacturers,” he said.

According to an Aug. 13 filing with the Securities and Exchange Commission (SEC), GM bid to acquire the international arm of Ally Financial. Read more about the filing here.

 

More F&I

Photo of a three-seat vehicle back seat
F&Iby Hannah MitchellMay 22, 2026

F&I Reaches for the Sky

The increasingly important profit center continued making gains in the first quarter, according to StoneEagle data, ancillary products proving more popular as consumers hold onto their buys longer.

Read More →
Cover image for a BOK Financial report titled “Timing the market: How avoiding volatility entirely can hurt long-term reinsurance program performance.” The image shows several road construction barricades with flashing amber warning lights lined up in a nighttime work zone. Beneath the image, red text explains that avoiding volatility can mean falling behind inflation and missing market rebounds that drive long-term surplus growth. The BOK Financial logo appears at the bottom right.
SponsoredMay 8, 2026

Timing the Market Can Hurt Long-Term Program Performance

For dealer-owned reinsurance entities, avoiding volatility entirely can mean falling behind inflation and missing market rebounds that drive long term surplus growth. Missing just a handful of strong market days can materially impact cumulative returns—an important reminder for long horizon trust and investment strategies.

Read More →
Ryan Ruff, The 90/10 Rule, Automotive Training Academy, Sales Series
F&IMay 6, 2026

The 90/10 Rule

In this video, Ryan Ruff explains the rule that elite sales professionals use to turn ordinary conversations into unforgettable customer experiences.

Read More →
Ad Loading...
Photo of essential oil diffuser on desk next to laptop
F&IMay 4, 2026

Your Office Is Talking

What’s the atmosphere saying about you to your customers? You can make minor adjustments and additions that transform your space into one that creates trust with the people on the other side of the desk.

Read More →
"Effective training ensures the customer’s needs remain at the heart of everything we do. When that is the focus, both sales and profits naturally improve." by Rick McCormick with F&I and Showroom logo and picture of Rick McCormick
F&IMay 1, 2026

F&I Training Fundamentals

How can auto dealerships help F&I managers fulfill their vital role in the most effective ways? Industry expert Rick McCormick shares his insights on the best ways to train these professionals and help them maintain good habits.

Read More →
Photo of car tire and the tread mark it left in snow
F&Iby Hannah MitchellApril 29, 2026

Not Just Any Tire Will Do

More consumers and businesses are opting for all-season options for various reasons as safety, sustainability and convenience push practical change.

Read More →
Ad Loading...
Photo of robot holding a laptop
F&Iby Hannah MitchellApril 27, 2026

How AI Will Drive the Next Wave of Innovation in Finance & Insurance

It’s time to take the next digital step to free F&I managers to handle the most challenging aspects of customer meetings.

Read More →
Photo of notepad and pen next to computer keyboard on desktop
F&IApril 13, 2026

Control in Sales Is an Illusion

Some of it should be given to the customer, but that doesn’t mean the F&I office relinquishes the process. In fact, a different approach both builds trust and boosts sales.

Read More →
Photo of external keyboard on office deak next to window
F&IApril 7, 2026

The Limited Warranty Game

Bringing it in-house benefits the dealership and its customers.

Read More →
Ad Loading...
Woman in casual clothing sitting at a desk
F&Iby Rick McCormickMarch 31, 2026

Curb The Confusion

Talk to F&I customers like you’d talk to a friend, without industry lingo or sales-like questions, and use hard proof to show, not tell, them about a need.

Read More →