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.
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.
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.
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

Sell Value, Build Trust
In this video, Trent White explains why selling on value, not fear, builds lasting customer trust, reduces cancellations, and drives long-term success.
Read More →
F&I Sales Give Dealers First-Half Lift
Product business shored up total profits to avoid an overall revenue tanking as product penetrations held steady, StoneEagle reported.
Read More →
Targeted Training Drives Results
Today’s technology, instead of threatening F&I managers, can actually make them better, according to an industry veteran who’s watched market setbacks roil the unprepared.
Read More →
Double the Change, Double the Chance
When an F&I manager gets a customer refusal, it’s a wise move to tweak more than one thing in the product offering.
Read More →
Just Do It
F&I managers need training, but instead of resisting application or expecting perfection, they should improve by simply acting on what they learn.
Read More →
Dealer Lender Preferences Revealed
When lenders provide consistent, fast service, their overall satisfaction scores with dealers greatly improve, according to JD Power research.
Read More →
Leading with Purpose
In this video, Trent White explains how understanding your people’s 'why' is a key leadership responsibility of F&I professionals and how that mindset drives dealership engagement, trust and performance.
Read More →
Integrating Nontraditional F&I Products
The niche presents a strategic advantage for auto dealerships as they move to adapt to fast-changing consumer expectations in today’s market.
Read More →
Trust Is Personal
Technology, no matter how efficient, can’t replace what the human F&I manager can do, which is to bridge the divide between cyberspace and the in-store experience.
Read More →
Amplify 2026 Billed as Turning Innovation Into Results
Reynolds and Reynolds says its annual retail summit will connect dealers with practical strategies, peer insight, and technology-driven ideas.
Read More →