Briefs: GMAC limits auto loans to credit scores of 700 or better | Business | Star-Telegram.com

Briefs: GMAC limits auto loans to credit scores of 700 or better | Business | Star-Telegram.com: "DETROIT — GMAC, the consumer-finance arm of General Motors, said it will limit auto loans to customers with credit scores of at least 700, making it harder for some to buy a car or truck. GMAC also raised what it charges auto dealers for making loans that aren’t part of special incentive programs, increasing the rate by 0.75 percentage point, the company said Monday. Most loans will be limited to 60 months. GMAC is tightening credit as it and GM battle speculation about their survival."