10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

______________________________________________ 

FORM 10-Q

(Mark One)

ý QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2014

OR

o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period ________________ to ________________

Commission file number 1-10667

______________________________________________ 

General Motors Financial Company, Inc.

(Exact name of registrant as specified in its charter)

Texas	75-2291093
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

801 Cherry Street, Suite 3500, Fort Worth, Texas 76102

(Address of principal executive offices, including Zip Code)

(817) 302-7000

(Registrant’s telephone number, including area code)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.    Yes  Q    No  o

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).    Yes  Q    No  o

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer or a smaller reporting company. See the definitions of "large accelerated filer"; "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer o Accelerated filer o Non-accelerated filer ý Smaller Reporting Company o

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    Yes  o    No  Q

As of October 23, 2014, there were 503 shares of the registrant’s common stock, par value $1.00 per share, outstanding. All of the registrant’s common stock is owned by General Motors Holdings, LLC.

GENERAL MOTORS FINANCIAL COMPANY, INC.

INDEX TO FORM 10-Q

		Page
Part I. Financial Information
Item 1.	Condensed Consolidated Financial Statements	1
	Condensed Consolidated Balance Sheets	1
	Condensed Consolidated Statements of Income and Comprehensive Income	2
	Condensed Consolidated Statements of Cash Flows	3
	Notes to Condensed Consolidated Financial Statements	4
	Note 1. Summary of Significant Accounting Policies	4
	Note 2. Finance Receivables	6
	Note 3. Restricted Cash	12
	Note 4. Leased Vehicles	13
	Note 5. Debt	13
	Note 6. Variable Interest Entities	15
	Note 7. Derivative Financial Instruments and Hedging Activities	16
	Note 8. Fair Values of Assets and Liabilities	16
	Note 9. Commitments and Contingencies	18
	Note 10. Income Taxes	18
	Note 11. Fair Values of Financial Instruments	18
	Note 12. Segment Reporting	20
	Note 13. Accumulated Other Comprehensive Income	21
	Note 14. Regulatory Capital	21
	Note 15. Guarantor Consolidating Financial Statements	21
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	30
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	46
Item 4.	Controls and Procedures	46
Part II. Other Information		46
Item 1.	Legal Proceedings	46
Item 1A.	Risk Factors	46
Item 6.	Exhibits	48
Signature		49

Part I. FINANCIAL INFORMATION

Item 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Dollars in millions, except per share amounts)

(Unaudited)

	September 30, 2014			December 31, 2013
Assets
Cash and cash equivalents	$	1,517		$	1,074
Finance receivables, net	31,722			29,282
Restricted cash	2,060			1,958
Property and equipment, net	165			132
Leased vehicles, net	5,796			3,383
Deferred income taxes	357			359
Goodwill	1,245			1,240
Related party receivables	195			129
Other assets	516			433
Total assets	$	43,573		$	37,990
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	22,932		$	22,073
Unsecured debt	10,842			6,973
Accounts payable and accrued expenses	990			946
Deferred income	317			168
Deferred income taxes	21			87
Taxes payable	239			287
Related party taxes payable	877			643
Related party payables	603			368
Other liabilities	194			160
Total liabilities	37,015			31,705
Commitments and contingencies (Note 9)
Shareholder's equity:
Common stock, $1.00 par value per share, 1,000 shares authorized and 502 shares issued	—			—
Additional paid-in capital	4,798			4,785
Accumulated other comprehensive (loss) income	(207		)	11
Retained earnings	1,967			1,489
Total shareholder's equity	6,558			6,285
Total liabilities and shareholder's equity	$	43,573		$	37,990

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(In millions)

(Unaudited)

	Three Months Ended September 30,					Nine Months Ended September 30,
	2014			2013		2014			2013
Revenue
Finance charge income	$	883		$	647	$	2,595		$	1,709
Leased vehicle income	297			172		735			415
Other income	81			48		219			119
Total revenue	1,261			867		3,549			2,243
Costs and expenses
Salaries and benefits	158			123		448			313
Other operating expenses	139			80		398			189
Total operating expenses	297			203		846			502
Leased vehicle expenses	228			133		563			314
Provision for loan losses	160			117		408			311
Interest expense	368			168		1,037			414
Acquisition and integration expenses	—			7		—			29
Total costs and expenses	1,053			628		2,854			1,570
Income before income taxes	208			239		695			673
Income tax provision	50			78		217			228
Net income	158			161		478			445
Other comprehensive (loss) income
Foreign currency translation adjustment	(272		)	95		(218		)	30
Other comprehensive (loss) income, net	(272		)	95		(218		)	30
Comprehensive (loss) income	$	(114	)	$	256	$	260		$	475

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In millions)

(Unaudited)

	Nine Months Ended September 30,
	2014			2013
Net cash provided by operating activities	$	1,400		$	1,254
Cash flows from investing activities:
Purchases of consumer finance receivables, net	(10,850		)	(6,310		)
Principal collections and recoveries on consumer finance receivables	8,124			5,099
Net funding of commercial finance receivables	(408		)	(619		)
Purchases of leased vehicles, net	(3,227		)	(1,746		)
Proceeds from termination of leased vehicles	395			142
Acquisition of international operations, net of cash acquired	(46		)	(2,107		)
Purchases of property and equipment	(37		)	(10		)
Change in restricted cash	(187		)	(74		)
Change in other assets	(2		)	(22		)
Net cash used in investing activities	(6,238		)	(5,647		)
Cash flows from financing activities:
Net decrease in debt (original maturities less than three months)	(913		)	—
Borrowings and issuance of secured debt	15,847			11,676
Payments on secured debt	(13,568		)	(9,009		)
Borrowings and issuance of unsecured debt	5,403			4,198
Payments on unsecured debt	(1,339		)	(1,817		)
Borrowings on related party line of credit	—			1,100
Payments on related party line of credit	—			(1,100		)
Repayment of debt to Ally Financial	—			(1,416		)
Capital contribution from parent	—			1,300
Debt issuance costs	(107		)	(69		)
Net cash provided by financing activities	5,323			4,863
Net increase in cash and cash equivalents	485			470
Effect of foreign exchange rate changes on cash and cash equivalents	(42		)	(3		)
Cash and cash equivalents at beginning of period	1,074			1,289
Cash and cash equivalents at end of period	$	1,517		$	1,756

The accompanying notes are an integral part of these condensed consolidated financial statements.

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GENERAL MOTORS FINANCIAL COMPANY, INC.

Notes to Condensed Consolidated Financial Statements

Note 1. Summary of Significant Accounting Policies

Acquisition of Ally Financial International Operations

We acquired Ally Financial Inc.'s ("Ally Financial") auto finance and financial services operations in Germany, the United Kingdom (the "U.K."), Italy, Sweden, Switzerland, Austria, Belgium, the Netherlands, Greece, Spain, Chile, Colombia and Mexico on April 1, 2013. We acquired Ally Financial's auto finance and financial services operations in France and Portugal on June 1, 2013, and we acquired Ally Financial's auto finance and financial services operations in Brazil on October 1, 2013. Additionally, we have agreed to acquire Ally Financial's non-controlling 40% equity interest in GMAC-SAIC Automotive Finance Company Limited ("GMAC-SAIC"), a joint venture, which conducts auto finance operations in China. This agreement is subject to certain regulatory and other approvals. We consider it probable that our acquisition of Ally Financial's interest in GMAC-SAIC will occur in late 2014 or as soon as practicable thereafter. The results of operations of the acquired entities since the applicable acquisition dates are included in our financial statements for the three and nine months ended September 30, 2014 and 2013.

Segment Information

We evaluate our business in two operating segments: North America ("the North America Segment") and international ("the International Segment"). The North America Segment includes our operations in the U.S. and Canada. The International Segment includes our operations in all other countries. For additional financial information regarding our business segments, see Note 12 - "Segment Reporting."

Basis of Presentation

The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries, including certain special-purpose financing entities utilized in secured financing transactions, which are considered variable interest entities ("VIEs"). All intercompany transactions and balances have been eliminated in consolidation.

The interim period consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles ("GAAP") in the United States of America. These interim period condensed consolidated financial statements should be read in conjunction with the consolidated financial statements that are included in our Annual Report on Form 10-K filed on February 6, 2014 ("Form 10-K"). Certain prior periods amounts were reclassified to conform to our current year presentation.

The condensed consolidated financial statements at September 30, 2014, and for the three and nine months ended September 30, 2014 and 2013, are unaudited and, in management’s opinion, include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for such interim periods. The results for interim periods are not necessarily indicative of results for a full year.

The preparation of financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions which affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the amount of revenue and costs and expenses during the reporting periods. Actual results could differ from those estimates and those differences may be material. These estimates include, among other things, the determination of the allowance for loan losses on finance receivables, estimated recovery value on leased vehicles, goodwill, income taxes and the expected cash flows on the pre-acquisition consumer finance receivables.

Subsequent to the issuance of our 2013 consolidated financial statements, we identified items not properly classified in the condensed consolidated statements of cash flows for the nine months ended September 30, 2013.  The adjustments to previously reported amounts within the various sections of the condensed consolidated statement of cash flows had a net effect of increasing Net cash provided by operating activities by $100 million and decreasing Net cash used in investing activities by $100 million, and were principally related to net funding of commercial finance receivables. 

Net Presentation of Cash Flows Related to Commercial Finance Receivables

Our commercial finance receivables are primarily comprised of floorplan financing to dealers.  The floorplan financing loans are repayable by the dealer within two to ten days after the dealer sells the vehicle subject to the financing. In our experience, these loans are typically repaid in less than 90 days of when the credit is extended. Furthermore, we have the unilateral ability to call the loans and receive payment within 30 days of when the credit is extended. Therefore, the presentation of the cash flows related to commercial finance receivables are reflected on the condensed consolidated statements of cash flows as "Net funding of commercial finance receivables."

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We have revolving debt agreements to finance our commercial lending activities. The revolving period of these agreements ranges from 12 to 36 months; however, the terms of these financing agreements require that a borrowing base of eligible floorplan receivables, within certain concentration limits, must be maintained in sufficient amounts to support advances.  When a dealer repays a floorplan receivable to us, the amount advanced against such receivables must be repaid by us or else the equivalent amount in new receivables must be added to the borrowing base. Despite the revolving term exceeding 90 days, the actual term for repayment of advances under these agreements is when we receive repayment from the dealers, which is typically within 90 days of when the credit is extended. Therefore, for 2014, the cash flows related to these revolving debt agreements are reflected on the condensed consolidated statements of cash flows as “Net decrease in debt (original maturities less than three months).”

Related Party Transactions

We are the wholly-owned captive finance subsidiary of our parent, General Motors Company ("GM"). We offer loan and lease finance products through GM-franchised dealers to consumers purchasing new and certain used vehicles manufactured by GM and make commercial loans directly to GM-franchised dealers. Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on consumer loan and lease finance products. In addition, GM makes payments to us to cover certain interest payments on commercial loans. At September 30, 2014 and December 31, 2013, we had related party receivables from GM in the amount of $195 million and $129 million under these programs.

At September 30, 2014 and December 31, 2013 we had $116 million and $62 million in loans outstanding to dealers that are consolidated by GM, in connection with our commercial lending program. Our international operations also provide financing to certain GM subsidiaries through factoring and other wholesale financing arrangements. At September 30, 2014 and December 31, 2013, $342 million and $588 million were outstanding under such arrangements, and are included in commercial finance receivables. At September 30, 2014 and December 31, 2013, we had $603 million and $368 million of related party payables due to GM, primarily for commercial finance receivables originated but not yet funded. These payables typically settle within 30 days.

We have a tax sharing agreement with GM for our U.S. operations, and we are obligated to pay GM for our share of the consolidated U.S. federal and certain state tax liabilities for taxable income recognized by us in any period beginning on or after October 1, 2010. Payments for the tax years 2010 through 2014 are deferred for four years from their original due date, and the total deferral amount is to not exceed $1.0 billion. The tax sharing agreement may be modified at any time by GM in its sole discretion. At September 30, 2014 and December 31, 2013, we had related party taxes payable to GM in the amount of $877 million and $643 million.

In September 2014, we and GM entered into a Support Agreement (the “Support Agreement”). Pursuant to the Support Agreement, if our earning assets leverage at the end of any calendar quarter is higher than thresholds set in the Support Agreement, We may require GM to provide funding sufficient to bring our earning assets leverage to within the appropriate threshold. In determining our earning assets leverage (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt. At September 30, 2014, our earning assets leverage ratio was 7.0, which is below the current applicable ratio of 8.0.

Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding and that GM will use its commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower on $4.0 billion under GM’s corporate revolving credit facilities. GM also agreed to certain provisions intended to ensure that we maintain adequate access to liquidity. Pursuant to these provisions, GM provided us with a $1.0 billion unsecured intercompany revolving credit facility (the “Junior Subordinated Revolving Credit Facility”), which replaced an existing $600 million intercompany credit facility with GM. There were no advances outstanding under the Junior Subordinated Revolving Credit Facility at September 30, 2014.

In October 2014, GM amended its two primary unsecured revolving credit facilities increasing GM's aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility.

We have the ability to borrow up to $2.0 billion against each of GM's unsecured revolving credit facilities, subject to available capacity. Our borrowings under GM's facilities are limited by GM's ability to borrow the entire amount available under the facilities. Therefore, we may be able to borrow up to $4.0 billion in total or may be unable to borrow depending on GM's borrowing activity. If we do borrow under these facilities, we expect such borrowings would be short-term in nature and, except in extraordinary circumstances, would not be used to fund our operating activities in the ordinary course of business. Neither we, nor any of our subsidiaries, guarantee any obligations under these facilities and none of our or our subsidiaries' assets secure these facilities.

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Recently Adopted Accounting Principles

On January 1, 2014 we adopted Accounting Standards Update ("ASU") 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which was issued to eliminate diversity in practice. This ASU requires that companies net their unrecognized tax benefits against all same-jurisdiction net operating losses or tax credit carryforwards that would be used to settle the position with a tax authority. The adoption of this ASU did not have a material effect on our consolidated financial statements.

Accounting Standards Not Yet Adopted

In May 2014 the Financial Accounting Standards Board issued ASU 2014-09, “Revenue Recognition - Revenue from Contracts with Customers” ("ASU 2014-09") that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. This update is effective for annual reporting periods beginning on or after December 15, 2016 and interim periods therein and requires expanded disclosures. We are currently assessing the impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements.

Note 2. Finance Receivables

The finance receivables portfolio consists of the following (in millions): 

	September 30, 2014									December 31, 2013
	North America			International			Total			North America			International			Total
Consumer
Pre-acquisition consumer finance receivables - outstanding balance	$	460		$	200		$	660		$	931		$	363		$	1,294
Pre-acquisition consumer finance receivables - carrying value	$	401		$	197		$	598		$	826		$	348		$	1,174
Post-acquisition consumer finance receivables, collectively evaluated for impairment, net of fees(a)	11,091			12,404			23,495			9,795			11,394			21,189
Post-acquisition consumer finance receivables, individually evaluated for impairment, net of fees	1,123			—			1,123			767			—			767
	12,615			12,601			25,216			11,388			11,742			23,130
Less: allowance for loan losses - collective	(396		)	(72		)	(468		)	(365		)	(29		)	(394		)
Less: allowance for loan losses - specific	(140		)	—			(140		)	(103		)	—			(103		)
Total consumer finance receivables, net	12,079			12,529			24,608			10,920			11,713			22,633
Commercial
Commercial finance receivables, collectively evaluated for impairment, net of fees	2,513			4,559			7,072			1,975			4,627			6,602
Commercial finance receivables, individually evaluated for impairment, net of fees	—			79			79			—			98			98
	2,513			4,638			7,151			1,975			4,725			6,700
Less: allowance for loan losses - collective	(17		)	(15		)	(32		)	(17		)	(27		)	(44		)
Less: allowance for loan losses - specific	—			(5		)	(5		)	—			(7		)	(7		)
Total commercial finance receivables, net	2,496			4,618			7,114			1,958			4,691			6,649
Total finance receivables, net	$	14,575		$	17,147		$	31,722		$	12,878		$	16,404		$	29,282

________________

(a) Amounts reported for International include $1.0 billion of direct-financing leases at September 30, 2014 and December 31, 2013.

Consumer Finance Receivables

Our consumer finance receivables are reported in two portfolios: pre-acquisition and post-acquisition. The pre-acquisition consumer finance receivables portfolio consists of (i) finance receivables originated in North America prior to our merger with

6

GM, all of which were considered to have had deterioration in credit quality, and (ii) finance receivables that were considered to have had deterioration in credit quality that were acquired with the international operations. The pre-acquisition consumer portfolio will decrease over time with the amortization of the acquired receivables.

The post-acquisition consumer finance receivables portfolio consists of (i) finance receivables originated in North America since our merger with GM, (ii) finance receivables originated in the international operations since the applicable acquisition dates and (iii) finance receivables that were considered to have had no deterioration in credit quality that were acquired with the international operations. The post-acquisition consumer portfolio will grow over time as we originate new receivables.

Pre-acquisition Consumer Finance Receivables

Following is a summary of activity in our pre-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Pre-acquisition consumer finance receivables - outstanding balance, beginning of period	$	931		$	363		$	1,294		$	2,162		$	—		$	2,162
Pre-acquisition consumer finance receivables - carrying value, beginning of period	$	826		$	348		$	1,174		$	1,958		$	—		$	1,958
International operations acquisition	—			—			—			—			601			601
Principal collections and other	(418		)	(171		)	(589		)	(885		)	(192		)	(1,077		)
Change in carrying value adjustment	(7		)	36			29			(45		)	8			(37		)
Foreign currency translation	—			(16		)	(16		)	—			7			7
Balance at end of period	$	401		$	197		$	598		$	1,028		$	424		$	1,452

We review our pre-acquisition portfolio for differences between contractual cash flows and the cash flows expected to be collected to determine if the difference is attributable, at least in part, to credit quality. During the nine months ended September 30, 2014 and 2013, as a result of improvements in the credit performance of the pre-acquisition portfolio, expected cash flows increased by $40 million and $73 million. We transferred the amount of excess cash flows from the non-accretable difference to accretable yield. This excess will be amortized through finance charge income over the remaining life of the portfolio. As a result of the decrease in the pre-acquisition portfolio through amortization, the amount of excess cash flows transferred to accretable yield and subsequently amortized through finance charge income has decreased.

A summary of the activity in the accretable yield on the pre-acquisition consumer finance receivables portfolios is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	133		$	44		$	177		$	298		$	96		$	394
International operations acquisition	—			—			—			—			—			—
Accretion of accretable yield	(32		)	(11		)	(43		)	(65		)	(20		)	(85		)
Transfer from non-accretable difference	—			7			7			—			19			19
Foreign currency translation	—			(3		)	(3		)	—			1			1
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

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	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	181		$	74		$	255		$	404		$	—		$	404
International operations acquisition	—			—			—			—			127			127
Accretion of accretable yield	(113		)	(41		)	(154		)	(225		)	(44		)	(269		)
Transfer from non-accretable difference	33			7			40			54			19			73
Foreign currency translation	—			(3		)	(3		)	—			(6		)	(6		)
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

Post-acquisition Consumer Finance Receivables

We generally purchase consumer finance contracts from auto dealers without recourse, and accordingly, the dealer has no liability to us if the consumer defaults on the contract. Depending upon the contract structure and consumer credit attributes, we may pay dealers a participation fee or we may charge dealers a non-refundable acquisition fee when purchasing individual finance contracts. We also have subvention programs with GM and other new vehicle manufacturers, under which the manufacturers provide us cash payments in order for us to offer lower interest rates on consumer finance contracts we purchase. We record the amortization of participation fees and subvention and accretion of acquisition fees to finance charge income using the effective interest method.

Following is a summary of activity in our post-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Post-acquisition consumer finance receivables, net of fees - beginning of period	$	10,562		$	11,394		$	21,956		$	8,831		$	—		$	8,831
International operations acquisition	—			—			—			—			6,378			6,378
Loans purchased	4,874			6,255			11,129			3,980			2,350			6,330
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Principal collections and other	(2,677		)	(4,487		)	(7,164		)	(2,097		)	(1,579		)	(3,676		)
Foreign currency translation	(2		)	(656		)	(658		)	—			221			221
Balance at end of period	$	12,214		$	12,404		$	24,618		$	10,313		$	7,352		$	17,665

A summary of the activity in the allowance for consumer loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	515		$	60		$	575		$	415		$	8		$	423
Provision for loan losses	119			43			162			107			9			116
Charge-offs	(194		)	(36		)	(230		)	(153		)	(18		)	(171		)
Recoveries	96			10			106			84			15			99
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

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	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	468		$	29		$	497		$	345		$	—		$	345
Provision for loan losses	312			109			421			276			17			293
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Recoveries	299			41			340			233			15			248
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

Consumer Credit Quality

We use proprietary scoring systems in the underwriting process that measure the credit quality of the receivables using several factors, such as credit bureau information, consumer credit risk scores (e.g. FICO score), and contract characteristics. In addition to our proprietary scoring system, we consider other individual consumer factors, such as employment history, financial stability, and capacity to pay. At the time of loan origination, substantially all of our international consumers have the equivalent of prime credit scores. In the North America Segment, however, our consumer finance receivables are predominantly sub-prime. A summary of the credit risk profile by FICO score band, determined at origination, of the consumer finance receivables in the North America Segment is as follows (dollars in millions):

	September 30, 2014				December 31, 2013
	Amount		Percent		Amount		Percent
FICO Score less than 540	$	3,802	30.0	%	$	3,511	30.6	%
FICO Score 540 to 599	5,934		46.8		5,435		47.3
FICO Score 600 to 659	2,511		19.8		2,277		19.8
FICO Score 660 and greater	427		3.4		270		2.3
Balance at end of period(a)	$	12,674	100.0	%	$	11,493	100.0	%

_________________ 

(a) Balance at the end of the period is the sum of pre-acquisition consumer finance receivables-outstanding balance and post-acquisition consumer finance receivables, net of fees for North America Segment.

In addition we review the credit quality of all of our consumer finance receivables based on consumer payment activity. A consumer account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Consumer finance receivables are collateralized by vehicle titles and, subject to local laws, we generally have the right to repossess the vehicle in the event the consumer defaults on the payment terms of the contract. The following is a summary of the contractual amounts of consumer finance receivables, which is not significantly different than recorded investment, that are (i) more than 30 days delinquent, but not yet in repossession, and (ii) in repossession, but not yet charged off (dollars in millions):

	September 30,
	2014								2013
	North America		International		Total		Percent of Contractual Amount Due		North America		International		Total		Percent of Contractual Amount Due
31 - 60 days	$	865	$	114	$	979	3.9	%	$	690	$	49	$	739	3.8	%
Greater than 60 days	305		120		425		1.7		247		44		291		1.5
	1,170		234		1,404		5.6		937		93		1,030		5.3
In repossession	44		5		49		0.2		41		4		45		0.3
	$	1,214	$	239	$	1,453	5.8	%	$	978	$	97	$	1,075	5.6	%

The accrual of finance charge income has been suspended on $675 million and $642 million of consumer finance receivables (based on contractual amount due) at September 30, 2014 and December 31, 2013.

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Impaired Consumer Finance Receivables - TDRs

Consumer finance receivables in the post-acquisition portfolio that become classified as troubled debt restructurings ("TDRs") are separately assessed for impairment. A specific allowance is estimated based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. The financial effects of the accounts that become classified as TDRs result in an impairment charge recorded as part of the provision for loan losses. Accounts that become classified as TDRs because of a payment deferral still accrue interest at the contractual rate and an additional fee is collected (where permitted) at each time of deferral and recorded as a reduction of accrued interest. No interest or fees are forgiven on a payment deferral to a customer and therefore, there are no additional financial effects of deferred loans becoming classified as TDRs. Accounts in Chapter 13 bankruptcy would have already been placed on non-accrual; therefore, there are no additional financial effects from these loans becoming classified as TDRs. At September 30, 2014, the outstanding balance of consumer finance receivables in the International Segment determined to be TDRs was insignificant; therefore, the following information is presented with regard to the TDRs in the North America Segment only.

The outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance is presented below (in millions):

	September 30, 2014			December 31, 2013
Outstanding recorded investment	$	1,123		$	767
Less: allowance for loan losses	(140		)	(103		)
Outstanding recorded investment, net of allowance	$	983		$	664
Unpaid principal balance	$	1,142		$	779

Finance charge income from loans classified as TDRs is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy methodology applied to loans that are not classified as TDRs. Additional information about loans classified as TDRs is presented below (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Average recorded investment	$	1,057	$	552	$	937	$	417
Finance charge income recognized	$	124	$	20	$	183	$	45

The following table provides information on consumer loans at the time they became classified as TDRs (dollars in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount
Recorded investment	13,543	$	232	11,364	$	204	35,748	$	598	27,302	$	478

A redefault is when an account meets the requirements for evaluation under our charge-off policy (See Note 1 - "Summary of Significant Accounting Policies" in our Form 10-K for additional information). The unpaid principal balance, net of recoveries, of loans that redefaulted during the reporting period and were within 12 months or less of being modified as a TDR were $12 million and $9 million for the three months ended September 30, 2014 and 2013, and $22 million and $15 million for the nine months ended September 30, 2014 and 2013.

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Commercial Finance Receivables

Following is a summary of activity in our commercial finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America		International			Total
Commercial finance receivables, net of fees - beginning of period	$	1,975		$	4,725		$	6,700		$	560	$	—		$	560
International operations acquisition	—			—			—			—		3,990			3,990
Net funding (collections) of commercial finance receivables	551			144			695			797		(229		)	568
Charge-offs	—			—			—			—		—			—
Foreign currency translation	(13		)	(231		)	(244		)	—		128			128
Balance at end of period	$	2,513		$	4,638		$	7,151		$	1,357	$	3,889		$	5,246

A summary of the activity in the allowance for commercial loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	23		$	40		$	12	$	12	$	24
Provision for loan losses	—		(2		)	(2		)	1		—		1
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		4		4
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

	Nine Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	34		$	51		$	6	$	—	$	6
Provision for loan losses	—		(13		)	(13		)	7		11		18
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		5		5
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

Commercial Credit Quality

We extend wholesale credit to dealers primarily in the form of approved lines of credit to purchase new vehicles as well as used vehicles. Each commercial lending request is evaluated, taking into consideration the borrower's financial condition and the underlying collateral for the loan.

We use proprietary models to assign each dealer a risk rating. These models use historical performance data to identify key factors about a dealer that we consider significant in predicting a dealer's ability to meet its financial obligations. We also consider numerous other financial and qualitative factors including capitalization and leverage, liquidity and cash flow, profitability and credit history. 

We regularly review our models to confirm the continued business significance and statistical predictability of the factors and update the models to incorporate new factors or other information that improves statistical predictability. In addition, we verify

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the existence of the assets collateralizing the receivables by physical audits of vehicle inventories, which are performed with increased frequency for higher risk (i.e., Groups III, IV, V and VI) dealers. We perform a credit review of each dealer at least annually and adjust the dealer's risk rating, if necessary.

Performance of our commercial finance receivables is evaluated based on our internal dealer risk rating analysis, as payment for wholesale receivables is generally not required until the dealer has sold the vehicle inventory. Wholesale and dealer loan receivables with the same dealer customer share the same risk rating.

A summary of the credit risk profile by dealer grouping of the commercial finance receivables is as follows (in millions):

			September 30, 2014		December 31, 2013
Group I	-	Dealers with superior financial metrics	$	711	$	598
Group II	-	Dealers with strong financial metrics	1,732		1,588
Group III -	-	Dealers with fair financial metrics	2,606		2,174
Group IV -	-	Dealers with weak financial metrics	1,315		1,622
Group V	-	Dealers warranting special mention due to potential weaknesses	604		488
Group VI -	-	Dealers with loans classified as substandard, doubtful or impaired	183		230
Balance at end of period			$	7,151	$	6,700

The credit lines for Group VI dealers are suspended and no further funding is extended to these dealers. 

At September 30, 2014 and December 31, 2013 substantially all of our commercial finance receivables were current with respect to payment status.

Impaired Commercial Finance Receivables

We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. The amount of impairment is based on expected proceeds, including the estimated amount of future cash flows and/or the fair value of underlying collateral, compared to the recorded investment of the loan. A specific allowance for losses is established in the amount of any measured impairment.

Commercial finance receivables classified as TDRs are assessed for impairment and included in our allowance for credit losses based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. For receivables where foreclosure is probable, the fair value of the collateral is used to estimate the specific impairment. At September 30, 2014 and December 31, 2013, there were no outstanding commercial finance receivables classified as TDRs.

Note 3.    Restricted Cash

The following table summarizes the components of restricted cash (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Securitization notes payable	$	1,046	$	357	$	1,403	$	890	$	208	$	1,098
Revolving credit facilities	26		267		293		62		415		477
Other	34		330		364		26		357		383
Total restricted cash	$	1,106	$	954	$	2,060	$	978	$	980	$	1,958

Restricted cash for securitization notes payable and revolving credit facilities is comprised of funds deposited as collateral required in restricted cash accounts to support securitization transactions or funds deposited in restricted cash accounts to provide additional collateral for borrowings under revolving credit facilities. Additionally, these funds include monthly collections from borrowers that have not yet been used for repayment of debt.

Other restricted cash is primarily comprised of deposits in Brazil held in escrow pending resolution of tax and civil litigation.

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Note 4. Leased Vehicles

Our operating lease program is offered primarily in the North America Segment. At September 30, 2014 and December 31, 2013, the amount of leased vehicles accounted for as operating leases in the International Segment is insignificant; therefore, the following information regarding our leased vehicles is presented on a consolidated basis.

Following is a summary of our leased vehicles (in millions):

	September 30, 2014			December 31, 2013
Leased vehicles	$	7,972		$	4,684
Manufacturer incentives	(1,171		)	(659		)
	6,801			4,025
Less: accumulated depreciation	(1,005		)	(642		)
Leased vehicles, net	$	5,796		$	3,383

A summary of the changes in our leased vehicles is as follows (in millions):

	Nine Months Ended September 30,
	2014			2013
Balance at beginning of period	$	4,025		$	1,976
International operations acquisition	—			9
Leased vehicles purchased	4,077			2,180
Leased vehicles returned - end of term	(662		)	(192		)
Leased vehicles returned - default	(39		)	(16		)
Manufacturer incentives	(524		)	(288		)
Foreign currency translation	(76		)	(22		)
Balance at end of period	$	6,801		$	3,647

The following table summarizes minimum rental payments due to us as lessor under operating leases (in millions):

	Years Ending December 31,
	2014		2015		2016		2017		2018		2019
Minimum rental payments under operating leases	$	272	$	1,012	$	780	$	366	$	51	$	3

At September 30, 2014 and December 31, 2013, our Canadian subsidiary was servicing $146 million and $303 million of leased vehicles for a third party.

Note 5. Debt

Debt consists of the following (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Secured
Revolving credit facilities	$	697	$	5,736	$	6,433	$	1,678	$	7,322	$	9,000
Securitization notes payable	12,177		4,322		16,499		10,801		2,272		13,073
Total secured	$	12,874	$	10,058	$	22,932	$	12,479	$	9,594	$	22,073
Unsecured
Senior notes	$	7,858	$	—	$	7,858	$	4,000	$	—	$	4,000
Credit facilities	—		2,217		2,217		—		2,370		2,370
Other unsecured debt	—		767		767		—		603		603
Total unsecured	$	7,858	$	2,984	$	10,842	$	4,000	$	2,973	$	6,973

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Secured Debt

Most of the secured debt was issued by variable interest entities, as further discussed in Note 6 - "Variable Interest Entities." This debt is repayable only from proceeds related to the underlying pledged finance receivables and lease related assets.

During the nine months ended September 30, 2014, we entered into $445 million in new revolving credit facilities and issued $7.1 billion in securitization notes payable.

We are required to hold funds in restricted cash accounts to provide additional collateral for borrowings under certain of our secured credit facilities. Additionally, certain of our secured credit facilities contain various covenants requiring minimum financial ratios, asset quality and portfolio performance ratios (portfolio net loss and delinquency ratios and pool level cumulative net loss ratios) as well as limits on deferment levels. Failure to meet any of these covenants could result in an event of default under these agreements. If an event of default occurs under these agreements, the lenders could elect to declare all amounts outstanding under these agreements to be immediately due and payable, enforce their interests against collateral pledged under these agreements, restrict our ability to obtain additional borrowings under these agreements and/or remove us as servicer. At September 30, 2014, we were in compliance with all covenants related to our credit facilities.

Unsecured Debt

In July 2014, our top-tier holding company issued $1.5 billion in senior notes, of which $700 million are due in July 2017 and $800 million are due in July 2019. Interest on the respective tranches is 2.625% and 3.50%, and is payable semiannually. In September 2014, our top-tier holding company issued $2.0 billion in senior notes, of which $750 million are due in September 2017 and $1.25 billion are due in September 2021. Interest on the respective tranches is 3.00% and 4.375%, and is payable semiannually. The other terms of all these senior notes are substantially the same as those of the senior notes our top-tier holding company has previously issued. We intend to use the net proceeds from these offerings for general corporate purposes.

All of the senior notes issued by our top-tier holding company may be redeemed, at our option, in whole or in part, at any time before maturity at the redemption prices set forth in the indentures that govern the senior notes, plus accrued and unpaid interest, to the redemption date. In addition, if a change of control occurs, as that term is defined in the indentures that govern the senior notes, prior to us being rated "investment grade" by at least two of three listed rating agencies, the holders of these senior notes will have the right, subject to certain conditions, to require us to repurchase their senior notes at a purchase price equal to 101% of the aggregate principal amount of senior notes repurchased plus accrued and unpaid interest, as of the date of repurchase. All of our senior notes are guaranteed solely by AmeriCredit Financial Services, Inc. ("AFSI"); none of our other subsidiaries are guarantors of our senior notes. See Note 15 - "Guarantor Consolidating Financial Statements" for further discussion.

The indentures that govern the senior notes issued by our top-tier holding company provide for customary events of default, including nonpayment, failure to comply with covenants or other agreements in the indentures, if any subsidiary guarantee shall cease to be in full force and effect or any guarantor shall deny or disaffirm its obligations under its subsidiary guarantee, and certain events of bankruptcy or insolvency. If any event of default occurs and is continuing with respect to a series of senior notes, the trustee or the holders of at least 25% in principal amount of the then outstanding senior notes of such series may declare all of the senior notes of such series to be due and payable immediately. At September 30, 2014, we were in compliance with all covenants related to our senior notes.

In May 2014 our Canadian subsidiary issued C$400 million of 3.25% senior notes through a private placement in Canada. The notes are due in May 2017 with interest payable semiannually. These notes are guaranteed by our top-tier holding company and by AFSI. We intend to use the net proceeds from this offering for general corporate purposes.

The International Segment issues unsecured debt through credit facilities with banks and other non-bank funding instruments. During the nine months ended September 30, 2014, we entered into $181 million of new unsecured committed credit facilities.

In October 2014, a European subsidiary issued €500 million of 1.875% notes under its euro medium term notes program, which are listed on the Irish Stock Exchange. These notes are due in October 2019 with interest payable annually. These notes are guaranteed by our top-tier holding company and by AFSI. We intend to use the net proceeds for general corporate purposes.

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Note 6.    Variable Interest Entities

Securitizations and credit facilities

The following table summarizes the assets and liabilities of our consolidated VIEs related to securitization and credit facilities (in millions):

	September 30, 2014		December 31, 2013
Restricted cash	$	1,696	$	1,523
VIE assets	$	25,512	$	23,584
VIE liabilities	$	20,321	$	19,448

The assets of the VIEs and the restricted cash we hold serve as the sole source of repayment for the debt issued by these entities. Investors in the notes issued by the VIEs do not have recourse to us or our other assets, with the exception of customary representation and warranty repurchase provisions and indemnities we provide as the servicer. We are not required and do not currently intend to provide additional financial support to these VIEs. While these subsidiaries are included in our consolidated financial statements, these subsidiaries are separate legal entities and their assets are legally owned by them and not available to our creditors.

In addition, we entered into interest rate swaps and caps with certain special-purpose entities ("SPEs") that issue variable rate debt against fixed rate securitized assets. Under the terms of these swaps, the SPEs are obligated to pay us a fixed rate of interest on certain payment dates in exchange for receiving a floating rate of interest on notional amounts equal to the outstanding balance of the secured debt. This arrangement enables the SPEs to mitigate the interest rate risk inherent in issuing variable rate debt that is secured by fixed rate securitized assets, as required to maintain ratings on such securitizations. See Note 7 - "Derivative Financial Instruments and Hedging Activities" for further discussion.

Other VIEs

We consolidate certain operating entities that provide auto finance and financial services, which we do not control through a majority voting interest. We manage these entities and maintain a controlling financial interest in them and are exposed to the risks of ownership through contractual arrangements. The majority voting interests in these entities are indirectly wholly-owned by our parent, GM. Prior to December 2013, the voting interests in these entities were indirectly wholly-owned by us. At September 30, 2014 and December 31, 2013, total assets of these entities were $4.7 billion and $3.9 billion, which were comprised primarily of cash and cash equivalents and finance receivables; and total liabilities were $3.9 billion and $3.0 billion, which were comprised primarily of debt, accounts payable (primarily trade) and accrued liabilities. In the nine months ended September 30, 2014 total revenue recorded by these entities was $148 million and net income was $29 million. In the three months ended September 30, 2014 total revenue recorded by these entities was $30 million and net income was $8 million. These amounts are stated prior to intercompany eliminations and include amounts related to securitization and credit facilities held by consolidated VIEs. Liabilities recognized as a result of consolidating these entities generally do not represent claims against us or our other subsidiaries and assets recognized generally are for the benefit of these entities operations and cannot be used to satisfy our or our subsidiaries obligations.

Transfers of finance receivables to non-VIEs

Under certain debt agreements, we transfer finance receivables to third-party banks, which are not considered VIEs.  These transfers do not meet the criteria to be considered sales; therefore, the finance receivables and the related debt are included in our condensed consolidated financial statements.  Any collections received on the transferred receivables are available only for the repayment of the related debt.  At September 30, 2014 and December 31, 2013, $2.7 billion and $2.8 billion in finance receivables had been transferred in secured funding arrangements to third-party banks, to which $2.6 billion and $2.7 billion in secured debt was outstanding.

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Note 7. Derivative Financial Instruments and Hedging Activities

Derivative swap and cap agreements consist of the following (in millions):

	September 30, 2014				December 31, 2013
	Notional		Fair Value(a)		Notional		Fair Value(a)
Assets
Interest rate swaps	$	3,370	$	15	$	2,422	$	11
Interest rate caps	2,583		11		1,398		7
Foreign currency swaps(b)	1,678		—		1,678		3
Total assets(c)	$	7,631	$	26	$	5,498	$	21
Liabilities
Interest rate swaps	$	4,618	$	38	$	4,266	$	17
Interest rate caps	2,252		11		1,206		7
Foreign currency swaps(b)	2,227		20		2,133		29
Total liabilities(d)	$	9,097	$	69	$	7,605	$	53

_________________

(a) See Note 8 - " Fair Values of Assets and Liabilities " for further discussion of fair value disclosure related to the derivatives.

(b) The foreign currency swaps relate to (i) intercompany loans denominated in foreign currencies (notional balances on the intercompany loans of €670 million, £500 million and 148kr million have been translated to USD) and (ii) a $550 million cross-currency swap for a securitization in the International Segment.

(c) Included in other assets on the condensed consolidated balance sheets.

(d) Included in other liabilities on the condensed consolidated balance sheets.

As appropriate, we purchase interest rate cap agreements to limit floating rate exposures on certain of our revolving secured debt. We also utilize interest rate swap agreements to convert floating rate exposures on certain of our revolving debt or on securities issued in securitization transactions to fixed rates, thereby hedging the variability in interest expense paid.

We provided loans denominated in foreign currencies (euro, British pound and Swedish krona) to certain of our international entities for the equivalent of $1.7 billion. We purchase foreign currency swaps to hedge against any valuation change in the loans due to changes in foreign exchange rates. In addition, our operations in the U.K. issued debt denominated in U.S. dollars in an amount equivalent to £350 million and put a cross-currency swap in place to hedge against any valuation change in the debt due to changes in exchange rates.

The following table presents information on the effect of derivative instruments on the condensed consolidated statements of income and comprehensive income (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Non-designated hedges:
Interest rate contracts(a)	$	(9	)	$	5		$	(18	)	$	2
Foreign currency derivatives(b)	141			(99		)	99			(111		)
	$	132		$	(94	)	$	81		$	(109	)

_________________

(a) (Losses) gains recognized in earnings are included in interest expense.

(b) Gains for the three and nine months ended September 30, 2014 are substantially offset by translation losses (included in operating expenses) related to the foreign currency-denominated loans described above.

Note 8. Fair Values of Assets and Liabilities

Refer to Note 10 - "Fair Values of Assets and Liabilities" to the consolidated financial statements in our Form 10-K for further discussion of valuation techniques and fair value measurement levels.

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Assets and liabilities itemized below were measured at fair value on a recurring basis, using either the market approach (i), the cost approach (ii) or the income approach (iii) (in millions):

		Fair Value
	Level	September 30, 2014		December 31, 2013
Assets
Money market funds(i)(a)	1	$	2,318	$	1,452
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	15		11
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	—		3
Total assets		$	2,344	$	1,473
Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	$	38	$	17
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	20		29
Total liabilities		$	69	$	53

_________________ 

(a) Excludes cash in banks of $1.3 billion and $1.6 billion at September 30, 2014 and December 31, 2013.

The tables below present a reconciliation for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):

	Three Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	17		$	(34	)	$	7		$	(20	)
Total realized and unrealized gains included in earnings	(1		)	(11		)	2			1
Purchases	—			—			—			—
Settlements	(1		)	5			(3		)	7
Foreign currency translation	—			2			2			(4		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

	Nine Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	11		$	(17	)	$	—		$	—
Total realized and unrealized gains included in earnings	5			(37		)	4			(4		)
Purchases	—			—			7			(19		)
Settlements	(1		)	14			(5		)	10
Foreign currency translation	—			2			2			(3		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

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Note 9. Commitments and Contingencies

Guarantees of Indebtedness

The payments of principal and interest on senior notes issued by our top-tier holding company are guaranteed by AFSI. At September 30, 2014 and December 31, 2013, the par value of these senior notes was $7.5 billion and $4.0 billion. See Note 15 - "Guarantor Consolidating Financial Statements" for further discussion.

Legal Proceedings

As a consumer finance company, we are subject to various consumer claims and litigation seeking damages and statutory penalties, based upon, among other things, usury, disclosure inaccuracies, wrongful repossession, violations of bankruptcy stay provisions, certificate of title disputes, fraud, breach of contract and discriminatory treatment of credit applicants. Some litigation against us could take the form of class action complaints by consumers and certain legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. We establish reserves for legal claims when payments associated with the claims become probable and the payments can be reasonably estimated. Given the inherent difficulty of predicting the outcome of litigation and regulatory matters, it is generally very difficult to predict what the eventual outcome will be, and when the matter will be resolved. The actual costs of resolving legal claims may be higher or lower than any amounts reserved for the claims. At September 30, 2014, we estimated our reasonably possible legal exposure for unfavorable outcomes to be $125 million, and have accrued $58 million.

Other Administrative Tax Matters

We accrue non-income tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they will be charged against income at that time.

In evaluating indirect tax matters, we take into consideration factors such as our historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. We reevaluate and update our accruals as matters progress over time. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to us and could require us to make expenditures for which we estimate the aggregate risk to be a range of up to $75 million.

Note 10.     Income Taxes

For interim income tax reporting we estimate our annual effective tax rate and apply it to our year-to-date ordinary income. Tax jurisdictions with a projected or year-to-date loss for which a tax benefit cannot be realized are excluded from the annualized effective tax rate. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur.

Our effective income tax rate was 24.0% and 31.2% for the three and nine months ended September 30, 2014 and 32.8% and 33.9% for the three and nine months ended September 30, 2013. The decrease in the effective income tax rate is primarily due to settlements within various jurisdictions.

Note 11. Fair Values of Financial Instruments

Fair values are based on estimates using present value or other valuation techniques in cases where quoted market prices are not available. Those techniques are significantly affected by the assumptions used, including the discount rate and the estimated timing and amount of future cash flows. Therefore, the estimates of fair value may differ substantially from amounts that ultimately may be realized or paid at settlement or maturity of the financial instruments and those differences may be material. Disclosures about fair value of financial instruments exclude certain financial instruments and all non-financial instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of our company.

18

Estimated fair values, carrying values and various methods and assumptions used in valuing our financial instruments are set forth below (in millions):

			September 30, 2014				December 31, 2013
		Level	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets:
Cash and cash equivalents	(a)	1	$	1,517	$	1,517	$	1,074	$	1,074
Finance receivables, net	(b)	3	$	31,722	$	32,064	$	29,282	$	29,301
Restricted cash	(a)	1	$	2,060	$	2,060	$	1,958	$	1,958
Interest rate swap agreements	(c)	3	$	15	$	15	$	11	$	11
Interest rate cap agreements purchased	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	—	$	—	$	3	$	3
Financial liabilities:
Secured debt
North America	(e)	2	$	12,874	$	12,935	$	12,479	$	12,565
International	(f)	2	$	5,394	$	5,409	$	5,113	$	5,113
International	(g)	3	$	4,664	$	4,641	$	4,481	$	4,492
Unsecured debt
North America	(h)	2	$	7,858	$	8,013	$	4,000	$	4,106
International	(i)	2	$	2,862	$	2,862	$	1,282	$	1,282
International	(g)	3	$	122	$	127	$	1,691	$	1,690
Interest rate swap agreements	(c)	3	$	38	$	38	$	17	$	17
Interest rate cap agreements sold	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	20	$	20	$	29	$	29

_________________

(a) Cash and cash equivalents and restricted cash bear interest at market rates; therefore, carrying value is considered to be a reasonable estimate of fair value.

(b) The fair value of the consumer finance receivables in the North America Segment is estimated based upon forecasted cash flows on the receivables discounted using a pre-tax weighted average cost of capital. The fair value of the consumer finance receivables in the International Segment is estimated based on forecasted cash flows on the receivables discounted using current origination rates for similar type loans. Commercial finance receivables generally have variable interest rates and maturities of one year or less. Therefore, the carrying value is considered to be a reasonable estimate of fair value.

(c) The fair values of the interest rate swap agreements are estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(d) The fair values of the interest rate cap agreements and foreign currency swap agreements are based on quoted market prices.

(e) Secured debt in the North America Segment is comprised of revolving credit facilities, publicly-issued secured debt, and privately-issued secured debt. For revolving credit facilities with variable rates of interest and terms of one year or less, carrying value is considered to be a reasonable estimate of fair value. The fair value of the publicly and privately issued secured term debt is based on quoted market prices, when available. If quoted market prices are not available, the market value is estimated using quoted market prices of similar securities.

(f) The level 2 secured debt in the International Segment has terms of one year or less, or has been priced within the last six months; therefore, par value is considered to be a reasonable estimate of fair value.

(g) The fair value of level 3 secured debt and unsecured debt in the International Segment is estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(h) The fair value of unsecured debt in the North America Segment is based on quoted market prices in thinly-traded markets.

(i) The level 2 unsecured debt in the International Segment has terms of one year or less; therefore, par value is considered to be a reasonable estimate of fair value.

The fair value of our consumer finance receivables is based on observable and unobservable inputs within a discounted cash flow model. Those unobservable inputs reflect assumptions regarding expected prepayments, deferrals, delinquencies, recoveries and charge-offs of the loans within the portfolio. The cash flow model produces an estimated amortization schedule of the finance

19

receivables which is the basis for the calculation of the series of cash flows that derive the fair value of the portfolio. For the North America Segment, the series of cash flows is calculated and discounted using a weighted average cost of capital using unobservable debt and equity percentages, an unobservable cost of equity and an observable cost of debt based on companies with a similar credit rating and maturity profile. For the International Segment, the series of cash flows is calculated and discounted using current interest rates. Macroeconomic factors could affect the credit performance of our portfolio and therefore could potentially impact the assumptions used in our cash flow model.

Note 12. Segment Reporting

We offer substantially similar products and services throughout many different regions, subject to local regulations and market conditions. We evaluate our business in two operating segments: the North America Segment (consisting of operations in the U.S. and Canada) and the International Segment (consisting of operations in all other countries). Our chief operating decision maker evaluates the operating results and performance of our business based on these operating segments. The management of each segment is responsible for executing our strategies.

For segment reporting purposes only, interest expense related to the senior notes has been allocated based on targeted leverage for each segment. Interest expense in excess of the targeted overall leverage is reflected in the "Corporate" column below. In addition, the interest income on $1.7 billion in intercompany loans provided to the international operations is presented in the "Corporate" column as revenue.

All inter-segment balances and transactions have been eliminated. Key financial data for our operating segments were as follows (in millions):

	Three Months Ended September 30, 2014
	North America		International		Corporate		Eliminations			Total
Total revenue	$	759	$	502	$	14	$	(14	)	$	1,261
Operating expenses, including leased vehicle expenses	366		159		—		—			525
Provision for loan losses	119		41		—		—			160
Interest expense	124		244		14		(14		)	368
Income before income taxes	$	150	$	58	$	—	$	—		$	208

	Three Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	622	$	245	$	13	$	(13	)	$	867
Operating expenses, including leased vehicle expenses	246		90		—		—			336
Provision for loan losses	108		9		—		—			117
Interest expense	93		76		12		(13		)	168
Acquisition and integration expenses	—		7		—		—			7
Income before income taxes	$	175	$	63	$	1	$	—		$	239

	Nine Months Ended September 30, 2014
	North America		International		Corporate			Eliminations			Total
Total revenue	$	2,086	$	1,463	$	45		$	(45	)	$	3,549
Operating expenses, including leased vehicle expenses	950		459		—			—			1,409
Provision for loan losses	312		96		—			—			408
Interest expense	320		706		56			(45		)	1,037
Income before income taxes	$	504	$	202	$	(11	)	$	—		$	695

20

	Nine Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	1,750	$	493	$	28	$	(28	)	$	2,243
Operating expenses, including leased vehicle expenses	637		179		—		—			816
Provision for loan losses	283		28		—		—			311
Interest expense	266		157		19		(28		)	414
Acquisition and integration expenses	—		29		—		—			29
Income before income taxes	$	564	$	100	$	9	$	—		$	673

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Finance receivables, net	$	14,575	$	17,147	$	31,722	$	12,878	$	16,404	$	29,282
Total assets	$	24,032	$	19,541	$	43,573	$	19,094	$	18,896	$	37,990

Note 13. Accumulated Other Comprehensive (Loss) Income

A summary of changes in accumulated other comprehensive income (loss) is as follows (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Defined benefit plans, net:
Balance at beginning of period	$	3		$	—		$	3		$	—
Unrealized gain on subsidiary pension	—			—			—			—
Balance at end of period	3			—			3			—
Foreign currency translation adjustment:
Balance at beginning of period	62			(68		)	8			(3		)
Translation (loss) gain	(272		)	95			(218		)	30
Balance at end of period	(210		)	27			(210		)	27
Total accumulated other comprehensive (loss) income	$	(207	)	$	27		$	(207	)	$	27

Note 14. Regulatory Capital

The International Segment includes the operations of certain stand-alone entities that operate in local markets as either banks or regulated finance companies that are subject to regulatory restrictions. These regulatory restrictions, among other things, require that these entities meet certain minimum capital requirements and may restrict dividend distributions and ownership of certain assets. We were in compliance with all regulatory requirements at September 30, 2014. Total assets of our regulated international banks and finance companies were approximately $11.4 billion and $12.1 billion at September 30, 2014 and December 31, 2013.

Note 15. Guarantor Consolidating Financial Statements

The payment of principal and interest on senior notes issued by our top-tier holding company is currently guaranteed solely by AFSI (the "Guarantor") and none of our other subsidiaries (the "Non-Guarantor Subsidiaries").

The consolidating financial statements present consolidating financial data for (i) General Motors Financial Company, Inc. (on a parent only basis), (ii) the Guarantor, (iii) the combined Non-Guarantor Subsidiaries, (iv) an elimination column for adjustments to arrive at the information for the parent company and our subsidiaries on a consolidated basis and (v) the parent company and our subsidiaries on a consolidated basis at September 30, 2014 and December 31, 2013, and for the three and nine months ended September 30, 2014 and 2013.

Investments in subsidiaries are accounted for by the parent company using the equity method for purposes of this presentation. Results of operations of subsidiaries are therefore reflected in the parent company's investment accounts and earnings. The principal elimination entries set forth below eliminate investments in subsidiaries and intercompany balances and transactions.

21

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	809		$	708		$	—		$	1,517
Finance receivables, net	—			1,901			29,821			—			31,722
Restricted cash	—			19			2,041			—			2,060
Property and equipment, net	—			8			157			—			165
Leased vehicles, net	—			—			5,796			—			5,796
Deferred income taxes	22			—			518			(183		)	357
Goodwill	1,095			—			150			—			1,245
Related party receivables	—			18			177			—			195
Other assets	97			45			374			—			516
Due from affiliates	6,510			—			—			(6,510		)	—
Investment in affiliates	7,373			3,397			—			(10,770		)	—
Total assets	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,932		$	—		$	22,932
Unsecured debt	7,500			—			3,342			—			10,842
Accounts payable and accrued expenses	86			141			763			—			990
Deferred income	—			—			317			—			317
Deferred income taxes	—			200			4			(183		)	21
Taxes payable	76			—			163			—			239
Related party taxes payable	877			—			1			(1		)	877
Related party payables	—			—			603			—			603
Other liabilities	—			22			172			—			194
Due to affiliates	—			1,760			4,749			(6,509		)	—
Total liabilities	8,539			2,123			33,046			(6,693		)	37,015
Shareholder's equity:
Common stock	—			—			698			(698		)	—
Additional paid-in capital	4,798			79			3,111			(3,190		)	4,798
Accumulated other comprehensive (loss) income	(207		)	(38		)	(192		)	230			(207		)
Retained earnings	1,967			4,033			3,079			(7,112		)	1,967
Total shareholder's equity	6,558			4,074			6,696			(10,770		)	6,558
Total liabilities and shareholder's equity	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573

22

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	395		$	679		$	—		$	1,074
Finance receivables, net	—			612			28,670			—			29,282
Restricted cash	—			20			1,938			—			1,958
Property and equipment, net	—			5			127			—			132
Leased vehicles, net	—			—			3,383			—			3,383
Deferred income taxes	1			—			358			—			359
Goodwill	1,095			—			145			—			1,240
Related party receivables	29			—			100			—			129
Other assets	74			5			358			(4		)	433
Due from affiliates	3,754			863			—			(4,617		)	—
Investment in affiliates	6,994			3,565			—			(10,559		)	—
Total assets	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,073		$	—		$	22,073
Unsecured debt	4,000			—			2,973			—			6,973
Accounts payable and accrued expenses	101			133			716			(4		)	946
Deferred income	—			—			168			—			168
Deferred income taxes	(28		)	161			(46		)	—			87
Taxes payable	83			—			204			—			287
Related party taxes payable	643			—			1			(1		)	643
Related party payables	—			—			368			—			368
Other liabilities	—			14			146			—			160
Due to affiliates	863			1,474			2,280			(4,617		)	—
Total liabilities	5,662			1,782			28,883			(4,622		)	31,705
Shareholder's equity:
Common stock	—			—			532			(532		)	—
Additional paid-in capital	4,785			79			3,833			(3,912		)	4,785
Accumulated other comprehensive income (loss)	11			(8		)	24			(16		)	11
Retained earnings	1,489			3,612			2,486			(6,098		)	1,489
Total shareholder's equity	6,285			3,683			6,875			(10,558		)	6,285
Total liabilities and shareholder's equity	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990

23

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	48		$	835		$	—		$	883
Leased vehicle income	—			—			297			—			297
Other income	18			115			46			(98		)	81
Equity in income of affiliates	242			139			—			(381		)	—
	260			302			1,178			(479		)	1,261
Costs and expenses
Salaries and benefits	—			64			94			—			158
Other operating expenses	117			(75		)	160			(63		)	139
Total operating expenses	117			(11		)	254			(63		)	297
Leased vehicle expenses	—			—			228			—			228
Provision for loan losses	—			97			63			—			160
Interest expense	56			8			339			(35		)	368
	173			94			884			(98		)	1,053
Income before income taxes	87			208			294			(381		)	208
Income tax (benefit) provision	(71		)	27			94			—			50
Net income	$	158		$	181		$	200		$	(381	)	$	158
Comprehensive (loss) income	$	(114	)	$	148		$	(71	)	$	(77	)	$	(114	)

24

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	37		$	610	$	—		$	647
Leased vehicle income	—			—			172		—			172
Other income	42			85			100		(179		)	48
Equity in income of affiliates	113			123			—		(236		)	—
	155			245			882		(415		)	867
Costs and expenses
Salaries and benefits	—			56			67		—			123
Other operating expenses	(74		)	42			112		—			80
Total operating expenses	(74		)	98			179		—			203
Leased vehicle expenses	—			—			133		—			133
Provision for loan losses	—			53			64		—			117
Interest expense	57			54			236		(179		)	168
Acquisition and integration expenses	—			—			7		—			7
	(17		)	205			619		(179		)	628
Income before income taxes	172			40			263		(236		)	239
Income tax provision (benefit)	11			(25		)	92		—			78
Net income	$	161		$	65		$	171	$	(236	)	$	161
Comprehensive income	$	256		$	79		$	266	$	(345	)	$	256

25

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	117		$	2,478	$	—		$	2,595
Leased vehicle income	—			—			735		—			735
Other income	58			346			126		(311		)	219
Equity in income of affiliates	601			408			—		(1,009		)	—
	659			871			3,339		(1,320		)	3,549
Costs and expenses
Salaries and benefits	—			180			268		—			448
Other operating expenses	112			(1		)	474		(187		)	398
Total operating expenses	112			179			742		(187		)	846
Leased vehicle expenses	—			—			563		—			563
Provision for loan losses	—			232			176		—			408
Interest expense	155			27			979		(124		)	1,037
	267			438			2,460		(311		)	2,854
Income before income taxes	392			433			879		(1,009		)	695
Income tax (benefit) provision	(86		)	11			292		—			217
Net income	$	478		$	422		$	587	$	(1,009	)	$	478
Comprehensive income	$	260		$	392		$	371	$	(763	)	$	260

26

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	106		$	1,603	$	—		$	1,709
Leased vehicle income	—			—			415		—			415
Other income	91			209			228		(409		)	119
Equity in income of affiliates	413			427			—		(840		)	—
	504			742			2,246		(1,249		)	2,243
Costs and expenses
Salaries and benefits	—			158			155		—			313
Other operating expenses	(76		)	(7		)	272		—			189
Total operating expenses	(76		)	151			427		—			502
Leased vehicle expenses	—			—			314		—			314
Provision for loan losses	—			180			131		—			311
Interest expense	128			143			552		(409		)	414
Acquisition and integration expenses	—			—			29		—			29
	52			474			1,453		(409		)	1,570
Income before income taxes	452			268			793		(840		)	673
Income tax provision (benefit)	7			(52		)	273		—			228
Net income	$	445		$	320		$	520	$	(840	)	$	445
Comprehensive income	$	475		$	341		$	553	$	(894	)	$	475

27

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	255		$	233		$	912		$	—		$	1,400
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(4,872		)	(9,297		)	3,319			(10,850		)
Principal collections and recoveries on consumer finance receivables	—			(109		)	8,233			—			8,124
Proceeds from sale of consumer finance receivables, net	—			3,319			—			(3,319		)	—
Net collections (funding) of commercial finance receivables	—			160			(568		)	—			(408		)
Purchases of leased vehicles, net	—			—			(3,227		)	—			(3,227		)
Proceeds from termination of leased vehicles	—			—			395			—			395
Acquisition of international operations, net of cash acquired	(46		)	—			—			—			(46		)
Purchases of property and equipment	—			(4		)	(33		)	—			(37		)
Change in restricted cash	—			1			(188		)	—			(187		)
Change in other assets	—			—			(2		)	—			(2		)
Net change in investment in affiliates	—			546			—			(546		)	—
Net cash used in investing activities	(46		)	(959		)	(4,687		)	(546		)	(6,238		)
Cash flows from financing activities:
Net decrease in debt (original maturities less than three months)	—			—			(913		)	—			(913		)
Borrowings and issuance of secured debt	—			—			15,847			—			15,847
Payments on secured debt	—			—			(13,568		)	—			(13,568		)
Borrowings and issuance of unsecured debt	3,500			—			1,903			—			5,403
Payments on unsecured debt	—			—			(1,339		)	—			(1,339		)
Net capital contributions	26			—			(572		)	546			—
Debt issuance costs	(39		)	—			(68		)				(107		)
Net change in due from/due to affiliates	(3,696		)	1,140			2,556			—			—
Net cash (used in) provided by financing activities	(209		)	1,140			3,846			546			5,323
Net increase in cash and cash equivalents	—			414			71			—			485
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(42		)				(42		)
Cash and cash equivalents at beginning of period	—			395			679			—			1,074
Cash and cash equivalents at end of period	$	—		$	809		$	708		$	—		$	1,517

28

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	106		$	286		$	862		$	—		$	1,254
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(3,971		)	(6,546		)	4,207			(6,310		)
Principal collections and recoveries on consumer finance receivables	—			—			5,099			—			5,099
Proceeds from sale of consumer finance receivables, net	—			4,207			—			(4,207		)	—
Net funding of commercial finance receivables	—			(2,326		)	(886		)	2,593			(619		)
Proceeds from sale of commercial finance receivables, net	—			2,593			—			(2,593		)	—
Purchases of leased vehicles, net	—			—			(1,746		)	—			(1,746		)
Proceeds from termination of leased vehicles	—			—			142			—			142
Acquisition of international operations, net of cash acquired	(2,547		)	(863		)	440			863			(2,107		)
Purchases of property and equipment	—			(1		)	(9		)	—			(10		)
Change in restricted cash	—			—			(74		)	—			(74		)
Change in other assets	—			(44		)	22			—			(22		)
Net change in investment in affiliates	(29		)	(350		)	—			379			—
Net cash used in investing activities	(2,576		)	(755		)	(3,558		)	1,242			(5,647		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			11,676			—			11,676
Payments on secured debt	—			—			(9,009		)	—			(9,009		)
Borrowings and issuance of unsecured debt	2,500			—			1,698			—			4,198
Payments on unsecured debt	—			—			(1,817		)	—			(1,817		)
Borrowings on related party line of credit	1,100			—			—			—			1,100
Payments on related party line of credit	(1,100		)	—			—			—			(1,100		)
Repayment of debt to Ally Financial	—			—			(1,416		)	—			(1,416		)
Net capital contributions	1,300			—			382			(382		)	1,300
Debt issuance costs	(29		)	—			(40		)	—			(69		)
Net change in due from/due to affiliates	(1,301		)	467			1,697			(863		)	—
Net cash provided by financing activities	2,470			467			3,171			(1,245		)	4,863
Net increase (decrease) in cash and cash equivalents	—			(2		)	475			(3		)	470
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(6		)	3			(3		)
Cash and cash equivalents at beginning of period	—			1,252			37			—			1,289
Cash and cash equivalents at end of period	$	—		$	1,250		$	506		$	—		$	1,756

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Item 2. MANAGEMENTS'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

GENERAL

We are a global provider of automobile finance solutions, and we operate in the market as the wholly-owned captive finance subsidiary of our parent, GM. We conduct our business generally in two segments, in North America and internationally in Europe and Latin America. The North America Segment includes operations in the U.S. and Canada. The International Segment includes operations in Austria, Belgium, Brazil, Chile, Colombia, France, Germany, Greece, Italy, Mexico, the Netherlands, Portugal, Spain, Sweden, Switzerland and the U.K. Additionally, we have agreed to acquire Ally Financial's non-controlling 40% equity interest in GMAC-SAIC Automotive Finance Company Limited ("GMAC-SAIC"), a joint venture, which conducts auto finance operations in China. This agreement is subject to certain regulatory and other approvals. We consider it probable that our acquisition of Ally Financial's interest in GMAC-SAIC will occur in late 2014 or as soon as practicable thereafter.

North America Operations

Consumer

Our automobile finance programs in the North America Segment include sub-prime lending and full credit spectrum leasing and, more recently, prime lending, offered through GM-franchised dealers under the "GM Financial" brand. We also offer sub-prime lending, through other manufacturer-franchised and independent dealers under the "AmeriCredit" brand. Our sub-prime lending program is designed to serve customers who have limited access to automobile financing through banks and credit unions. Our typical borrowers have experienced prior credit difficulties or have limited credit histories and generally have credit bureau scores ranging from 500 to 700. We generally charge higher rates than those charged by banks and credit unions and we also expect to sustain a higher level of defaults than these other automobile financing sources.

We are currently seeking to expand our prime lending programs through GM-franchised dealers in North America and anticipate that prime lending will become an increasing percentage of our originations and consumer portfolio balance over time.

We focus our marketing activities on automobile dealerships. We are selective in choosing the dealers with whom we conduct business and primarily pursue GM and non-GM manufacturer-franchised dealerships with new and used car operations; however, we also conduct business with a limited number of independent dealerships. We generally finance new GM vehicles, moderately-priced new vehicles from other manufacturers, and later-model, low-mileage used vehicles.

Our leasing product is offered through GM-franchised dealers and primarily targets prime consumers leasing new GM vehicles. We seek to provide competitive alternatives to existing marketplace lease offerings in GM-franchised dealers.

Our origination platform provides specialized focus on marketing our financing programs and underwriting loans and leases. Responsibilities are segregated so that the sales group markets our programs and products to our dealer customers, while the underwriting group focuses on underwriting, negotiating and closing loans and leases. In the U.S. our sales and underwriting groups are further segregated with separate teams servicing GM dealers and non-GM dealers, allowing us to continue efficient service for our non-GM dealers under the "AmeriCredit" brand while providing GM-franchised dealers the broader loan, lease and commercial lending products we offer under the "GM Financial" brand.

We utilize a proprietary credit scoring system to support the credit approval process. The credit scoring system was developed through statistical analysis of our consumer demographic and portfolio databases consisting of data which we have collected in more than 20 years of operating history. Credit scoring is used to differentiate credit applications and to statistically rank-order credit risk in terms of expected default rates, which enables us to evaluate credit applications for approval and tailor contract pricing and structure. In addition to our proprietary credit scoring system, we utilize other underwriting guidelines in our underwriting process to help us further evaluate the credit risk of our consumer financing activities.

Our servicing activities include collecting and processing customer payments, responding to customer inquiries, initiating contact with customers who are delinquent, maintaining the security interests in the financed vehicles, monitoring physical damage insurance coverage of the financed vehicles, and arranging for the repossession of financed vehicles, liquidation of collateral and pursuit of deficiencies when appropriate. Our servicing activities also include managing an end-of-term process for consumers purchasing or returning leased vehicles.

Commercial

Our commercial lending offerings target GM-franchised dealers and affiliated non-GM franchised dealers and consist of loans to finance the purchase of vehicle inventory, also known as wholesale or floorplan financing, as well as dealer loans, which

30

are loans to finance improvements to dealership facilities, to provide working capital and to purchase and/or finance dealership real estate.

Each dealer is assigned a risk rating based on various factors, including, but not limited to, collateral analysis, capital sufficiency, operating performance, financial outlook and credit and payment history, if available. The risk rating indicates the pricing for and guides the management of the account. We monitor the level of borrowing under each dealer's account daily. Our commercial loan servicing activities include dealership customer service, account maintenance, exception processing, credit line monitoring and adjustment and insurance monitoring.

International Operations

Consumer

We primarily employ an indirect-to-consumer model similar to the one we use in the North America Segment. Our consumer lending programs focus on financing prime quality consumers purchasing new GM vehicles. In many of the countries in which we operate, we also offer financial leases and a lease/retail hybrid product that includes a balloon payment at expiration, at which time the consumer may elect to make the payment, refinance or return the vehicle. Additionally, we recently began to offer an operating lease product in select markets. We also offer finance-related insurance products through third parties, such as credit life, gap and extended warranty coverage. We finance primarily new automobiles, although we also finance used automobiles. In most of the countries in which we operate, similar to our underwriting process in the North America Segment, we utilize a proprietary credit scoring system to differentiate consumer credit applications and to statistically rank-order credit risk in terms of expected default rates, which enables us to evaluate credit applications for approval and tailor loan and lease pricing and structure.

Our servicing activities include collecting and processing customer payments, responding to customer inquiries, initiating contact with customers who are delinquent, maintaining the security interest in the financed vehicle, monitoring physical damage insurance coverage of the financed vehicle, and arranging for the repossession of financed vehicles, liquidation of collateral and pursuit of deficiencies when appropriate.

Commercial

Commercial products offered primarily to GM-franchised dealers include new and used vehicle inventory financing, inventory insurance, working capital and capital improvement loans. Other commercial products include fleet financing and storage center financing. In addition, we provide training to dealer employees to help them maximize the value of these finance and insurance products. We utilize a proprietary underwriting system for commercial lending that has been refined through decades of experience in managing economic cycles. This process involves assigning a risk rating to each dealer based on our due diligence of various factors, including, but not limited to, collateral analysis, capital sufficiency, operating performance, financial outlook and credit and payment history, if available. The underwriting processes are performed in commercial lending centers located in Mexico, Brazil and Germany, the management of which operates independently of in-country sales and servicing operations. Our commercial loan servicing activities include dealership customer service, account maintenance and monitoring, exception processing, credit line monitoring and adjustment and insurance monitoring.

Financing

We primarily finance our loan, lease and commercial origination volume through the use of our secured and unsecured bank lines, through public and private securitization transactions where such markets are developed, through the issuance of senior notes and through public markets including the issuance of commercial paper and other financing programs.

We seek to fund our operations through local sources of funding to minimize currency and country risk. As such, the mix of funding sources varies from country to country, based on the characteristics of our receivables and the relative development of debt capital and securitization markets in each country. Our Latin American operations are entirely funded locally. Our European operations obtain most of their funding from local sources, but also borrow funds from affiliated companies.

In addition to our bank lines and securitization programs, GM provides us with financial resources through a tax sharing agreement, which effectively defers up to $1.0 billion in income taxes that we would otherwise be required to pay to GM over time, and through a $1.0 billion unsecured intercompany revolving credit facility (the "Junior Subordinated Revolving Credit Facility"), which replaced an existing $600 million intercompany credit facility with GM.

In October 2014, GM amended its two primary unsecured revolving credit facilities, increasing GM's aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility.

31

We have the ability to borrow up to $2.0 billion against each of GM's unsecured revolving credit facilities, subject to available capacity. Our borrowings under GM's facilities are limited by GM's ability to borrow the entire amount available under the facilities. Therefore, we may be able to borrow up to $4.0 billion in total or may be unable to borrow depending on GM's borrowing activity. If we do borrow under these facilities, we expect such borrowings would be short-term in nature and, except in extraordinary circumstances, would not be used to fund our operating activities in the ordinary course of business. Neither we, nor any of our subsidiaries, guarantee any obligations under these facilities and none of our or our subsidiaries' assets secure these facilities.

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RESULTS OF OPERATIONS

Three Months Ended September 30, 2014as compared to

Three Months Ended September 30, 2013

Average Earning Assets:

Average earning assets were as follows (dollars in millions):

	Three Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount		%
Average consumer finance receivables	$	12,383	$	12,943	$	25,326	$	11,438	$	7,448	$	18,886	$	6,440	34.1	%
Average commercial finance receivables	2,404		4,519		6,923		1,244		3,781		5,025		1,898		37.8	%
Average finance receivables	14,787		17,462		32,249		12,682		11,229		23,911		8,338		34.9	%
Average leased vehicles, net	5,299		5		5,304		2,883		4		2,887		2,417		83.7	%
Average earning assets	$	20,086	$	17,467	$	37,553	$	15,565	$	11,233	$	26,798	$	10,755	40.1	%

In the North America Segment, average consumer finance receivables increased $945 million from September 30, 2013 to September 30, 2014, primarily because loan originations exceeded portfolio liquidations through payments and defaults. We purchased $2.0 billion and $1.3 billion of consumer finance receivables for the three months ended September 30, 2014 and 2013. The average new consumer loan size increased to $23,730 for the three months ended September 30, 2014 from $21,551 for the three months ended September 30, 2013. The average annual percentage rate for consumer finance receivables purchased during the three months ended September 30, 2014 decreased to 11.0% from 13.5% for the three months ended September 30, 2013. The increase in average loan size and decrease in average annual percentage rate are both primarily due to higher volumes of new car originations, which typically are for higher amounts, and have lower contractual rates due to the rate subvention support provided by GM, as well as the introduction of prime lending programs.

In the North America Segment, average commercial finance receivables increased $1.2 billion from September 30, 2013 to September 30, 2014, primarily due to the continued ramp-up in business since the introduction of our commercial lending platform in April 2012 and dealer conquests and related origination growth in the business since that time.

Average leased vehicles, net, increased $2.4 billion from September 30, 2013 to September 30, 2014. We purchased $1.7 billion and $727 million of leased vehicles for the three months ended September 30, 2014 and 2013. The increase in leased vehicles purchased was a result of GM's overall increased market penetration in leases as well as an increase in our share of GM's lease business.

The increase in average finance receivables in the International Segment is primarily due to the addition of the consumer and commercial receivables portfolios in Brazil, which were acquired October 1, 2013, as well as growth in U.K. consumer finance receivables.

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Revenue:

Revenues were as follows (dollars in millions):

	Three Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount		%
Finance charge income:
Consumer finance receivables	$	429	$	354	$	783	$	426	$	147	$	573	$	210	36.6	%
Commercial finance receivables	$	19	$	81	$	100	$	10	$	64	$	74	$	26	35.1	%
Leased vehicle income	$	295	$	2	$	297	$	170	$	2	$	172	$	125	72.7	%
Other income	$	16	$	65	$	81	$	16	$	32	$	48	$	33	68.8	%

In the North America Segment, finance charge income on consumer finance receivables was flat for the three months ended September 30, 2014, compared to the three months ended September 30, 2013. Increased finance charge income resulting from the increase in average consumer finance receivables was offset by a decrease in effective yield. The effective yield on our consumer finance receivables decreased to 13.7% for the three months ended September 30, 2014, from 14.8% for the three months ended September 30, 2013, primarily due to a decrease in the average annual percentage rate on new originations as well as a reduced yield impact from the accretion on the pre-acquisition portfolio. The effective yield represents finance charges and fees recorded in earnings during the period as a percentage of average consumer finance receivables. The effective yield, as a percentage of average consumer finance receivables, is higher than the contractual rates of our auto finance contracts because the effective yield includes, in addition to the contractual rates and fees, the impact of rate subvention provided by GM, as well as the impact of excess cash flows transferred from non-accretable difference to accretable yield, which impact has decreased over time with the amortization of the pre-acquisition portfolio.

The increase in commercial finance charge income reflects the increase in the average commercial finance receivables portfolio.

Leased vehicle income increased to $295 million for the three months ended September 30, 2014 from $170 million for the three months ended September 30, 2013, due to the increased size of the leased asset portfolio.

The increase in revenue for the International Segment is primarily due to the acquisition of the operations in Brazil in October 2013, as well as growth in consumer finance receivables in the U.K.

Costs and Expenses:

Costs and expenses were as follows (dollars in millions):

	Three Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount			%
Operating expenses	$	139	$	158	$	297	$	114	$	89	$	203	$	94		46.3	%
Leased vehicle expenses	$	227	$	1	$	228	$	132	$	1	$	133	$	95		71.4	%
Provision for loan losses	$	119	$	41	$	160	$	108	$	9	$	117	$	43		36.8	%
Interest expense(a)	$	142	$	226	$	368	$	114	$	54	$	168	$	200		119.0	%
Acquisition and integration expenses	$	—	$	—	$	—	$	—	$	7	$	7	$	(7	)	(100.0	)%

_________________ 

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(a) Amounts do not reflect allocation of senior note interest expense, and therefore do not agree with amounts presented in Note 12 - "Segment Reporting" in our consolidated financial statements in this Form 10-Q.

Operating Expenses

In the North America Segment, the increase in operating expenses reflects the growth in earning assets and investments to support our prime lending program and enhance our lease origination and servicing capabilities. Our operating expenses are predominantly related to personnel costs that include base salary and wages, performance incentives and benefits as well as related employment taxes. These expenses represented 76.0% and 74.3% of total operating expenses for the three months ended September 30, 2014 and 2013.

The increase in operating expenses for the International Segment is primarily due to the acquisition of the operations in Brazil, which were acquired October 1, 2013.

Operating expenses as an annualized percentage of average earning assets were 3.1% and 3.0% for the three months ended September 30, 2014 and 2013.

Leased Vehicle Expenses

Leased vehicle expenses increased primarily due to the increased size of the leased asset portfolio in the North America Segment. Our leased vehicle expenses are predominantly related to depreciation of leased assets.

Provision for Loan Losses

Provision for losses on consumer finance receivables are charged to income to bring our allowance for loan losses to a level which management considers adequate to absorb probable credit losses inherent in the consumer finance receivables portfolio. The provision for loan losses recorded for the three months ended September 30, 2014 and 2013 reflects inherent losses on receivables originated during these periods and changes in the amount of inherent losses on post-acquisition finance receivables originated in prior periods. In the North America Segment, the provision for consumer loan losses increased to $119 million for the three months ended September 30, 2014 from $107 million for the three months ended September 30, 2013, primarily due to growth in the consumer finance receivables portfolio. As an annualized percentage of average post-acquisition consumer finance receivables, the provision for loan losses was 4.0% and 4.1% for the three months ended September 30, 2014 and 2013. In the International Segment, the provision for consumer loan losses increased to $43 million for the three months ended September 30, 2014 from $9 million for the three months ended September 30, 2013, primarily due to the acquisition of the operations in Brazil, which were acquired October 1, 2013.

The provision for loan losses on commercial finance receivables in the North America Segment was insignificant for the three months ended September 30, 2014 and 2013. In the International Segment, the provision was more than offset by the release of $3 million in specific reserves against commercial loans to Chevrolet dealers in Europe.  The specific reserve was established following GM’s decision to discontinue the Chevrolet brand in Europe; however, the related portfolio has been substantially repaid, with insignificant losses.

Interest Expense

In the North America Segment, interest expense increased primarily as a result of an increase in average debt outstanding to $19.8 billion for the three months ended September 30, 2014, from $15.5 billion for the three months ended September 30, 2013. The increase in debt was due to funding requirements for growth in the loan and lease portfolio, as well as for the acquisition of the international operations. The effective rate of interest on our debt was 2.8% and 2.9% for the three months ended September 30, 2014 and 2013.

The increase in interest expense for the International Segment is primarily due to the acquisition of the operations in Brazil in October 2013, as well as increased funding related to the growth in consumer receivables in the U.K.

Other Comprehensive Income

Foreign Currency Translation Adjustment

Consolidated foreign currency translation adjustments included in other comprehensive (loss) income were $(272) million and $95 million for three months ended September 30, 2014 and 2013. Most of the international operations use functional currencies other than the U.S. dollar. Translation adjustments result from changes in the values of our international currency-denominated assets and liabilities as the value of the U.S. dollar changes in relation to international currencies. The change in other comprehensive (loss) income is primarily due to decreases in the values of the Brazilian real and the euro in relation to the U.S dollar.

35

Nine Months Ended September 30, 2014as compared to

Nine Months Ended September 30, 2013

Average Earning Assets:

Average earning assets were as follows (dollars in millions):

	Nine Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount		%
Average consumer finance receivables	$	11,924	$	12,585	$	24,509	$	11,281	$	4,801	$	16,082	$	8,427	52.4	%
Average commercial finance receivables	2,235		4,649		6,884		998		2,428		3,426		3,458		100.9	%
Average finance receivables	14,159		17,234		31,393		12,279		7,229		19,508		11,885		60.9	%
Average leased vehicles, net	4,352		3		4,355		2,393		4		2,397		1,958		81.7	%
Average earning assets	$	18,511	$	17,237	$	35,748	$	14,672	$	7,233	$	21,905	$	13,843	63.2	%

In the North America Segment, average consumer finance receivables increased $643 million from September 30, 2013 to September 30, 2014, primarily because loan originations exceeded portfolio liquidation through payments and defaults. We purchased $4.9 billion and $4.0 billion of consumer finance receivables in the North America Segment for the nine months ended September 30, 2014 and 2013. The average new consumer loan size increased to $22,790 for the nine months ended September 30, 2014 from $21,468 for the nine months ended September 30, 2013. The average annual percentage rate for consumer finance receivables purchased during the nine months ended September 30, 2014 decreased to 12.0% from 13.4% for the nine months ended September 30, 2013. The increase in average loan size and decrease in average annual percentage rate are both primarily due to higher volumes of new car originations, which typically are for higher amounts, and have lower contractual rates due to the rate subvention provided by GM, as well as the introduction of prime lending programs.

In the North America Segment, average commercial finance receivables increased $1.2 billion from September 30, 2013 to September 30, 2014, primarily due to the continued ramp-up in business since the introduction of our commercial lending platform in April 2012 and dealer conquests and related origination growth in the business since that time.

Average leased vehicles, net, increased $2.0 billion from September 30, 2013 to September 30, 2014. We purchased $4.0 billion and $2.2 billion of leased vehicles for the nine months ended September 30, 2014 and 2013. The increase in leased vehicles purchased was a result of GM's overall increased market penetration in leases as well as an increase in our share of GM's business.

The increase in the average earning assets for the International Segment is primarily due to the acquisition of the majority of the international operations on April 1, 2013, and the operations in Brazil, which were acquired October 1, 2013.

Revenue:

Revenues were as follows (dollars in millions):

	Nine Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount		%
Finance charge income:
Consumer finance receivables	$	1,254	$	1,038	$	2,292	$	1,262	$	289	$	1,551	$	741	47.8	%
Commercial finance receivables	$	53	$	250	$	303	25		133		$	158	$	145	91.8	%
Leased vehicle income	$	731	$	4	$	735	411		4		$	415	$	320	77.1	%
Other income	$	48	$	171	$	219	52		67		$	119	$	100	84.0	%

In the North America Segment, finance charge income on consumer finance receivables was flat for the nine months ended September 30, 2014, compared to the nine months ended September 30, 2013. Increased finance charge income resulting from

36

the increase in average consumer finance receivables was offset by a decrease in effective yield. The effective yield on our consumer finance receivables decreased to 14.0% for the nine months ended September 30, 2014, from 15.0% for the nine months ended September 30, 2013, primarily due to a decrease in the average annual percentage rate on new originations as well as a reduced yield impact from the accretion on the pre-acquisition portfolio. The effective yield represents finance charges and fees recorded in earnings during the period as a percentage of average consumer finance receivables. The effective yield, as a percentage of average consumer finance receivables, is higher than the contractual rates of our auto finance contracts because the effective yield includes, in addition to the contractual rates and fees, the impact of rate subvention provided by GM, as well as the impact of excess cash flows transferred from non-accretable difference to accretable yield, which impact has decreased over time with the amortization of the pre-acquisition portfolio.

The increase in commercial finance charge income reflects the increase in the average commercial finance receivables portfolio.

Leased vehicle income increased to $731 million for the nine months ended September 30, 2014 from $411 million for the nine months ended September 30, 2013, due to the increased size of the leased asset portfolio.

The increase in revenue for the International Segment is primarily due to the acquisition of the majority of the international operations on April 1, 2013, and the operations in Brazil, which were acquired October 1, 2013.

Costs and Expenses:

Costs and expenses were as follows (dollars in millions):

	Nine Months Ended September 30,
	2014						2013						2014 vs. 2013 Change
	North America		International		Total		North America		International		Total		Amount			%
Operating expenses	$	390	$	456	$	846	$	326	$	176	$	502	$	344		68.5	%
Leased vehicle expenses	$	560	$	3	$	563	$	311	$	3	$	314	$	249		79.3	%
Provision for loan losses	$	312	$	96	$	408	$	283	$	28	$	311	$	97		31.2	%
Interest expense(a)	$	390	$	647	$	1,037	$	300	$	114	$	414	$	623		150.5	%
Acquisition and integration expenses	$	—	$	—	$	—	$	—	$	29	$	29	$	(29	)	(100.0	)%

_________________ 

(a) Amounts do not reflect allocation of senior note interest expense, and therefore do not agree with amounts presented in Note 12 - "Segment Reporting" in our consolidated financial statements in this Form 10-Q.

Operating Expenses

In the North America Segment, the increase in operating expenses reflects the growth in earning assets and investments to support our prime lending program and enhance our lease origination and servicing capabilities. Our operating expenses are predominantly related to personnel costs that include base salary and wages, performance incentives and benefits as well as related employment taxes. These expenses represented 75.9% and 73.2% of total operating expenses for the nine months ended September 30, 2014 and 2013.

The increase in operating expenses for the International Segment is primarily due to the acquisition of the majority of the international operations on April 1, 2013, and the operations in Brazil, which were acquired October 1, 2013.

Operating expenses as an annualized percentage of average earning assets were 3.2% for the nine months ended September 30, 2014 compared to 3.1% for the nine months ended September 30, 2013.

Leased Vehicle Expenses

Leased vehicle expenses increased due to the increased size of the leased asset portfolio. Our leased vehicle expenses are predominantly related to depreciation of leased assets.

Provision for Loan Losses

Provision for losses on consumer finance receivables are charged to income to bring our allowance for loan losses to a level which management considers adequate to absorb probable credit losses inherent in the consumer finance receivables portfolio. The provision for loan losses recorded for the nine months ended September 30, 2014 and 2013 reflects inherent losses on receivables originated during these periods and changes in the amount of inherent losses on post-acquisition finance receivables originated in prior periods. In the North America Segment, the provision for consumer loan losses increased to $312 million for the nine months

37

ended September 30, 2014 from $276 million for the nine months ended September 30, 2013, as a result of the increase in the size of the consumer finance receivables portfolio. As an annualized percentage of average post-acquisition consumer finance receivables, the provision for loan losses was 3.7% and 3.6% for the nine months ended September 30, 2014 and 2013. In the International Segment, the provision for consumer loan losses increased to $109 million for the nine months ended September 30, 2014 from $17 million for the nine months ended September 30, 2013, primarily due to the acquisition of the majority of the international operations on April 1, 2013, and the operations in Brazil, which were acquired October 1, 2013.

The provision for loan losses on commercial finance receivables in the North America Segment was insignificant for the nine months ended September 30, 2014 and $7 million for the nine months ended September 30, 2013. In the International Segment, the provision was more than offset by the release of $11 million in specific reserves against commercial loans to Chevrolet dealers in Europe.  The specific reserve was established following GM’s decision to discontinue the Chevrolet brand in Europe; however, the related portfolio has been substantially repaid, with insignificant losses.

Interest Expense

In the North America Segment, interest expense increased primarily as a result of an increase in average debt outstanding to $18.1 billion for the nine months ended September 30, 2014, from $13.7 billion for the nine months ended September 30, 2013. The increase in debt was due to funding requirements for growth in the loan and lease portfolio, as well as for the acquisition of the international operations. The effective rate of interest on our debt was 2.9% for the nine months ended September 30, 2014 and 2013.

The increase in interest expense for the International Segment is primarily due to the acquisition of the majority of the international operations in April 2013, and the operations in Brazil, in October 2013, as well as increased funding related to the growth in consumer receivables in the U.K.

Other Comprehensive Income

Foreign Currency Translation Adjustment

Consolidated foreign currency translation adjustments included in other comprehensive (loss) income were $(218) million and $30 million for the nine months ended September 30, 2014 and 2013. Most of the international operations use functional currencies other than the U.S. dollar. Translation adjustments result from changes in the values of our international currency-denominated assets and liabilities as the value of the U.S. dollar changes in relation to international currencies. The change in other comprehensive (loss) income is primarily due to decreases in the values of the Brazilian real and the euro in relation to the U.S dollar.

CREDIT QUALITY

Consumer Finance Receivables

In the North America Segment, we primarily provide financing in relatively high-risk markets, and therefore anticipate a corresponding high level of delinquencies and charge-offs. In the International Segment, the consumer financing we provide is generally to borrowers with prime credit and considered lower-risk; therefore, we expect correspondingly lower levels of delinquencies and charge-offs than in our North America Segment.

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The following tables present certain data related to the consumer finance receivables portfolio (dollars in millions, except where noted):

	September 30, 2014									December 31, 2013
	North America			International			Total			North America			International			Total
Pre-acquisition consumer finance receivables - outstanding balance	$	460		$	200		$	660		$	931		$	363		$	1,294
Pre-acquisition consumer finance receivables - carrying value	$	401		$	197		$	598		$	826		$	348		$	1,174
Post-acquisition consumer finance receivables, net of fees	12,214			12,404			24,618			10,562			11,394			21,956
	12,615			12,601			25,216			11,388			11,742			23,130
Less: allowance for loan losses	(536		)	(72		)	(608		)	(468		)	(29		)	(497		)
Total consumer finance receivables, net	$	12,079		$	12,529		$	24,608		$	10,920		$	11,713		$	22,633
Number of outstanding contracts	761,726			1,401,130			2,162,856			725,797			1,224,845			1,950,642
Average amount of outstanding contracts (in dollars)(a)	$	16,639		$	8,996		$	11,687		$	15,835		$	9,599		$	11,919
Allowance for loan losses as a percentage of post-acquisition consumer finance receivables, net of fees	4.4		%	0.6		%	2.5		%	4.4		%	0.3		%	2.3		%

_________________ 

(a) Average amount of outstanding contract consists of pre-acquisition consumer finance receivables - outstanding balance and post-acquisition consumer finance receivables, net of fees, divided by number of outstanding contracts.

The allowance for loan losses for the North America Segment as a percentage of post-acquisition consumer finance receivables, net of fees, was consistent with the level at December 31, 2013. The allowance for the acquired international receivables was eliminated in acquisition accounting at the acquisition dates. As a result, the allowance at September 30, 2014 for the International Segment represents an estimate of losses inherent in only the receivables originated since the acquisition dates. The allowance for losses for the International Segment will grow over time as the post-acquisition loan balance grows. However, the allowance for losses for the International Segment is expected to be much less than that for the North America Segment due to the higher credit quality of its originations.

Delinquency

The following is a summary of the contractual amounts of consumer finance receivables, which is not materially different than recorded investment, that are (i) more than 30 days delinquent, but not yet in repossession, and (ii) in repossession, but not yet charged off (dollars in millions):

	September 30,
	2014								2013
	North America		International		Total				North America		International		Total
	Amount		Amount		Amount		Percent of Contractual Amount Due		Amount		Amount		Amount		Percent of Contractual Amount Due
31 - 60 days	$	865	$	114	$	979	3.9	%	$	690	$	49	$	739	3.8	%
Greater than 60 days	305		120		425		1.7		247		44		291		1.5
	1,170		234		1,404		5.6		937		93		1,030		5.3
In repossession	44		5		49		0.2		41		4		45		0.3
	$	1,214	$	239	$	1,453	5.8	%	$	978	$	97	$	1,075	5.6	%

An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Delinquencies may vary from period to period based upon the average credit scores in the portfolio which reflects our underwriting strategies and risk tolerance, the average age or seasoning of the portfolio, seasonality within the

39

calendar year and economic factors. Our customer base in the North America Segment is predominantly sub-prime; therefore, a relatively high percentage of accounts become delinquent at some point in the life of a loan and there is a high rate of account movement between current and delinquent status in the portfolio.

Delinquencies inthe North America Segment increased to 9.2% at September 30, 2014 from 8.2% at September 30, 2013, consistent with normalizing credit trends. Our customer base in the International Segment is primarily prime; therefore, delinquency levels are much lower, with 1.9% and 1.2% in delinquencies at September 30, 2014 and 2013. The increase in delinquencies from September 30, 2013 is due to the acquisition of the international operations in Brazil.

Deferrals

Due to the lower-risk nature of the consumer base in the International Segment, it is unnecessary to offer deferrals as frequently as in the North America Segment, which leads to an immaterial overall level of deferrals in the International Segment. Therefore, the following information regarding deferrals is presented for consumer finance receivables in the North America Segment only.

In accordance with our policies and guidelines, we, at times, offer payment deferrals to consumers, whereby the consumer is allowed to move up to two delinquent payments to the end of the loan generally by paying a fee (approximately the interest portion of the payment deferred, except where state law provides for a lesser amount). Our policies and guidelines limit the number and frequency of deferments that may be granted. Additionally, we generally limit the granting of deferments on new accounts until a requisite number of payments have been received.

Due to the nature of our consumer base in the North America Segment and policies and guidelines of the deferral program, which policies and guidelines have not changed materially in several years, approximately 50% to 60% of accounts historically comprising the consumer finance receivables in the North America Segment receive a deferral at some point in the life of the account.

An account for which all delinquent payments are deferred or paid in a deferment transaction is classified as current at the time the deferment is granted and therefore is not included as a delinquent account. Thereafter, such account is aged based on the timely payment of future installments in the same manner as any other account.

Contracts receiving a payment deferral as an average quarterly percentage of average consumer finance receivables outstanding were 6.6% and 6.7% for the three months ended September 30, 2014 and 2013 and 6.1% and 6.3% for nine months ended September 30, 2014 and 2013.

The following is a summary of deferrals in the North America Segment as a percentage of consumer finance receivables outstanding:

	September 30, 2014		December 31, 2013
Never deferred	75.8	%	74.7	%
Deferred:
1-2 times	20.2		21.6
3-4 times	4.0		3.7
Total deferred	24.2		25.3
Total	100.0	%	100.0	%

We evaluate the results of our deferment strategies based upon the amount of cash installments that are collected on accounts after they have been deferred versus the extent to which the collateral underlying the deferred accounts has depreciated over the same period of time. Based on this evaluation, we believe that payment deferrals granted according to our policies and guidelines are an effective portfolio management technique and result in higher ultimate cash collections from the portfolio.

Changes in deferment levels do not have a direct impact on the ultimate amount of consumer finance receivables charged off by us. However, the timing of a charge-off may be affected if the previously deferred account ultimately results in a charge-off. To the extent that deferrals impact the ultimate timing of when an account is charged off, historical charge-off ratios, loss confirmation periods and cash flow forecasts for loans classified as TDRs used in the determination of the adequacy of our allowance for loan losses are also impacted. Increased use of deferrals may result in a lengthening of the loss confirmation period, which would increase expectations of credit losses inherent in the portfolio and therefore increase the allowance for loan losses and related provision for loan losses. Changes in these ratios and periods are considered in determining the appropriate level of allowance for loan losses and related provision for loan losses.

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Troubled Debt Restructurings

See Note 2 - "Finance Receivables" to our condensed consolidated financial statements in this Form 10-Q for further discussion of TDRs.

Credit Losses - non-U.S. GAAP measure

We analyze portfolio performance of both the pre- and post-acquisition finance receivables portfolios on a combined basis. This information allows us and investors the ability to analyze credit loss trends in the combined portfolio. Additionally, information on credit losses, on a combined basis, facilitates comparisons of current and historical results.

The following is a reconciliation of charge-offs on the post-acquisition portfolio to credit losses on the combined portfolio (in millions):

	Three Months Ended September 30,
	2014						2013
	North America(a)		International		Total		North America(a)		International		Total
Charge-offs	$	194	$	36	$	230	$	153	$	18	$	171
Adjustments to reflect write-offs of the contractual amounts on the pre-acquisition portfolio	13		2		15		34		4		38
Total credit losses	$	207	$	38	$	245	$	187	$	22	$	209

_________________ 

(a) Total credit losses in the North America Segment is comprised of the sum of repossession credit losses and mandatory credit losses.

	Nine Months Ended September 30,
	2014						2013
	North America(a)		International		Total		North America(a)		International		Total
Charge-offs	$	543	$	102	$	645	$	401	$	18	$	419
Adjustments to reflect write-offs of the contractual amounts on the pre-acquisition portfolio	52		7		59		123		9		132
Total credit losses	$	595	$	109	$	704	$	524	$	27	$	551

_________________ 

(a) Total credit losses in the North America Segment is comprised of the sum of repossession credit losses and mandatory credit losses.

The following table presents credit loss data (which includes charge-offs on the post-acquisition portfolio and write-offs of contractual amounts on the pre-acquisition portfolio) with respect to our consumer finance receivables portfolio (dollars in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International(a)			Total			North America			International(a)			Total
Repossession credit losses	$	188		$	38		$	226		$	180		$	18		$	198
Less: recoveries	(106		)	(12		)	(118		)	(105		)	(15		)	(120		)
Mandatory credit losses(b)	19			—			19			7			4			11
Net credit losses	$	101		$	26		$	127		$	82		$	7		$	89
Net annualized credit losses as a percentage of average consumer finance receivables(c)	3.2		%	0.8		%	2.0		%	2.8		%	0.4		%	1.9		%
Recoveries as a percentage of gross repossession credit losses	56.6		%							58.7		%

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	Nine Months Ended September 30,
	2014									2013
	North America			International(a)			Total			North America			International(a)			Total
Repossession credit losses	$	575		$	109		$	684		$	519		$	18		$	537
Less: recoveries	(339		)	(45		)	(384		)	(313		)	(15		)	(328		)
Mandatory credit losses(b)	20			—			20			5			9			14
Net credit losses	$	256		$	64		$	320		$	211		$	12		$	223
Net annualized credit losses as a percentage of average consumer finance receivables(c)	2.9		%	0.7		%	1.8		%	2.5		%	0.4		%	1.9		%
Recoveries as a percentage of gross repossession credit losses	59.0		%							60.3		%

_________________ 

(a) Repossession credit losses for the International Segment represent the write-down of defaulted receivables to net realizable value. As a result, a calculation of recoveries as a percentage of gross repossession credit losses is not meaningful.

(b) Mandatory credit losses represent accounts 120 days delinquent in the post-acquisition portfolio that are charged off in full, with no recovery amounts realized at time of charge-off, net of any subsequent recoveries as well as the net write-down of consumer finance receivables in repossession to the net realizable value of the repossessed vehicle when the repossessed vehicle is legally available for sale.

(c) Average consumer finance receivables are defined as the average receivable balance excluding the carrying value adjustment.

Net credit losses as a percentage of average consumer finance receivables outstanding may vary from period to period based upon the average credit scores in the portfolio which reflects our underwriting strategies and risk tolerance, the average age or seasoning of the portfolio and economic conditions.

Commercial Finance Receivables

The following table presents certain data related to the commercial finance receivables portfolio (dollars in millions):

	September 30, 2014									December 31, 2013
	North America			International			Total			North America			International			Total
Commercial finance receivables, net of fees	$	2,513		$	4,638		$	7,151		$	1,975		$	4,725		$	6,700
Less: allowance for loan losses	(17		)	(20		)	(37		)	(17		)	(34		)	(51		)
Total commercial finance receivables, net	$	2,496		$	4,618		$	7,114		$	1,958		$	4,691		$	6,649
Number of dealers	406			2,174			2,580			309			2,646			2,955
Average carrying amount per dealer	$	6		$	2		$	3		$	6		$	2		$	2
Allowance for loan losses as a percentage of commercial finance receivables, net of fees	0.7		%	0.4		%	0.5		%	0.9		%	0.7		%	0.8		%

Commercial finance receivables are assessed for impairment and any required allowance for credit losses is recorded based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. For receivables where foreclosure is probable, the fair value of the collateral is used to estimate the specific impairment. At September 30, 2014 and December 31, 2013, there were no outstanding commercial finance receivables classified as TDRs.

There were no charge-offs of commercial finance receivables for the three or nine months ended September 30, 2014 and 2013. At September 30, 2014 and December 31, 2013 substantially all of our commercial finance receivables were current with respect to payment status.

Leased Vehicles

At September 30, 2014 and 2013, 98.4% and 99.0% of our leases were current with respect to payment status. Leased vehicles returned as a result of a default were $15 million and $7 million for the three months ended September 30, 2014 and 2013 and $39 million and $16 million for the nine months ended September 30, 2014 and 2013.

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LIQUIDITY AND CAPITAL RESOURCES

General

Our primary sources of cash are finance charge income, leasing income, servicing fees, net distributions from secured debt facilities, including securitizations, secured and unsecured borrowings and collections and recoveries on finance receivables. Our primary uses of cash are purchases of consumer finance receivables and leased vehicles, the funding of commercial finance receivables, funding credit enhancement requirements in connection with securitizations and secured facilities, repayment of secured and unsecured debt, operating expenses, interest costs, capital expenditures and business acquisitions.

We used cash of $10.9 billion and $6.3 billion for the purchase of consumer finance receivables for the nine months ended September 30, 2014 and 2013. We used cash of $3.2 billion and $1.7 billion for the purchase of leased vehicles for the nine months ended September 30, 2014 and 2013. We used cash of $0.4 billion and $0.6 billion for the funding of commercial finance receivables, net of collections, for the nine months ended September 30, 2014 and 2013. We used cash of $3.5 billion for the acquisition of the international operations and repayment of debt to Ally Financial for the nine months ended September 30, 2013.

In the North America Segment, our purchase and funding of finance receivables and lease vehicles were financed initially utilizing cash and borrowings on our secured and unsecured credit facilities. Subsequently, our strategy is to obtain long-term financing for consumer and commercial finance receivables and leased vehicles through securitization transactions and the liquidity generated by the issuance of senior notes.

In the International Segment, our purchase and funding of finance receivables are typically financed with borrowings on secured and unsecured credit facilities. In certain countries where the debt capital and securitization markets are sufficiently developed, such as in Germany and the U.K., we obtain permanent financing through securitization transactions. In addition, in September 2014, we established a euro medium term note program, registered on the Irish Stock Exchange, allowing us to raise unsecured debt in the international capital markets through the issuance of notes with different maturities and in different currencies.

Liquidity

Our available liquidity consists of the following (in millions):

	September 30, 2014		December 31, 2013
Cash and cash equivalents(a)	$	1,517	$	1,074
Borrowing capacity on unpledged eligible assets	4,666		1,650
Borrowing capacity on committed unsecured lines of credit	819		615
Borrowing capacity on Junior Subordinated Revolving Credit Facility	1,000		—
Borrowing capacity on GM Related Party Credit Facility	—		600
Available liquidity	$	8,002	$	3,939

_________________

(a) Includes $665 million and $659 million in unrestricted cash outside of the U.S. at September 30, 2014 and December 31, 2013. This cash is considered to be indefinitely invested based on specific plans for reinvestment of these earnings.

The increase in available liquidity is primarily due to the issuance of $3.9 billion in senior notes in the nine months ended September 30, 2014. In addition, in September 2014, we and GM entered into the Support Agreement which, among other things, contains certain provisions intended to ensure that we maintain adequate access to liquidity. Pursuant to these provisions, GM provided us with the $1.0 billion unsecured intercompany Junior Subordinated Revolving Credit Facility, which replaced an existing $600 million credit facility with GM.

In October 2014, GM amended its two primary unsecured revolving credit facilities, increasing GM's aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility.

We have the ability to borrow up to $2.0 billion against each of GM's unsecured revolving credit facilities, subject to available capacity. Our borrowings under GM's facilities are limited by GM's ability to borrow the entire amount available under the facilities. Therefore, we may be able to borrow up to $4.0 billion in total or may be unable to borrow depending on GM's borrowing activity. If we do borrow under these facilities, we expect such borrowings would be short-term in nature and, except in extraordinary circumstances, would not be used to fund our operating activities in the ordinary course of business. Neither we, nor any of our subsidiaries, guarantee any obligations under these facilities and none of our assets secure these facilities. Liquidity available to us under the GM unsecured revolving credit facilities is not included in the table above.

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Credit Facilities

In the normal course of business, in addition to using our available cash, we utilize borrowings under our credit facilities, which may be secured or structured as securitizations, or may be unsecured, and we repay these borrowings as appropriate under our cash management strategy.

At September 30, 2014, credit facilities consist of the following (in millions):

Facility Type	Facility Amount		Advances Outstanding
Revolving consumer asset-secured facilities(a)	$	14,330	$	6,037
Revolving commercial asset-secured facilities(b)	3,004		417
Total secured	$	17,334	$	6,454
Unsecured committed facilities	1,284		465
Unsecured uncommitted facilities(c)	—		1,752
Total unsecured	$	1,284	$	2,217
Junior Subordinated Revolving Credit Facility	1,000		—
Total	$	19,618	$	8,671
Acquisition accounting discount			(21		)
			$	8,650

_________________

(a) Includes revolving credit facilities backed by consumer finance receivables and leases.

(b) Includes revolving credit facilities backed by loans to dealers for floorplan financing.

(c) The financial institutions providing the uncommitted facilities are not contractually obligated to advance funds under them; therefore, we do not include available capacity on these facilities in our liquidity. We had $521 million in unused borrowing capacity on these facilities at September 30, 2014.

See Note 5 - "Debt" to our condensed consolidated financial statements in this Form 10-Q for further discussion of the terms of our revolving credit facilities.

We are required to hold funds in restricted cash accounts to provide additional collateral for borrowings under certain of our

secured credit facilities. Additionally, our secured credit facilities contain various covenants requiring minimum financial ratios, asset quality and portfolio performance ratios (portfolio net loss and delinquency ratios, and pool level cumulative net loss ratios) as well as limits on deferment levels. Failure to meet any of these covenants could result in an event of default under these agreements. If an event of default occurs under these agreements, the lenders could elect to declare all amounts outstanding under these agreements to be immediately due and payable, enforce their interests against collateral pledged under these agreements, restrict our ability to obtain additional borrowings under these agreements and/or remove us as servicer. As of September 30, 2014, we were in compliance with all covenants related to our credit facilities.

Securitization Notes Payable

We seek to finance our consumer and commercial finance receivables and leases through public and private term securitization transactions, where the debt capital and securitization markets are sufficiently developed, such as in the U.S., Canada, Germany and the U.K. The proceeds from the transactions were primarily used to repay borrowings outstanding under our revolving credit facilities.

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A summary of securitization notes payable is as follows (in millions):

Year of Transaction	Maturity Date (a)			Original Issuance Amounts					Note Balance At September 30, 2014
2007	June 2018			$	74				$	62
2010	November 2017	-	April 2018	$	200	-	$	850	257
2011	July 2018	-	December 2019	$	518	-	$	1,000	1,104
2012	June 2016	-	July 2020	$	183	-	$	1,300	4,061
2013	July 2015	-	October 2021	$	212	-	$	1,107	4,745
2014	March 2019	-	March 2022	$	444	-	$	1,400	6,277
Total active securitizations									16,506
Acquisition accounting discount									(7		)
									$	16,499

_________________ 

(a) Maturity dates represent legal final maturity of issued notes. The notes are expected to be paid based on amortization of the finance receivables pledged.

Our securitizations utilize special purpose entities which are also VIEs that meet the requirements to be consolidated in our financial statements. See Note 6 - "Variable Interest Entities" to our condensed consolidated financial statements in this Form 10-Q for further discussion.

Senior Notes and Other Unsecured Debt

We also access the public capital markets through the issuance of unsecured debt. In the North America Segment, we periodically issue senior unsecured notes. At September 30, 2014 we had $7.9 billion in senior unsecured notes outstanding.

In the International Segment, particularly in Latin America, we issue other unsecured debt through commercial paper offerings and other non-bank funding instruments. At September 30, 2014 we had $767 million of this type of unsecured debt outstanding.

In October 2014, a European subsidiary issued €500 million of 1.875% notes under its euro medium term notes program, which are listed on the Irish Stock Exchange. These notes are due in October 2019 with interest payable annually. These notes are guaranteed by our top-tier holding company and by AFSI. We intend to use the net proceeds for general corporate purposes.

FORWARD-LOOKING STATEMENTS

This report contains several "forward-looking statements." Forward-looking statements are those that use words such as "believe," "expect," "anticipate," "intend," "plan," "may," "likely," "should," "estimate," "continue," "future" and/or other comparable expressions. These words indicate future events and trends. Forward-looking statements are our current views with respect to future events and financial performance. These forward-looking statements are subject to many assumptions, risks and uncertainties that could cause actual results to differ significantly from historical results or from those anticipated by us. The most significant risks are detailed from time to time in our filings and reports with the Securities and Exchange Commission, including our Form 10-K for the year ended December 31, 2013. It is advisable not to place undue reliance on our forward-looking statements. We undertake no obligation to, and do not, publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a result of new information, future events or otherwise.

The following factors are among those that may cause actual results to differ materially from historical results or from the forward-looking statements:

• our ability to close the acquisition of Ally Financial's equity interest in GMAC-SAIC and operate that business successfully;

• changes in general economic and business conditions;

• GM's ability to sell new vehicles that we finance in the markets we serve in North America, Europe and Latin America;

• interest rate and currency fluctuations;

• our financial condition and liquidity, as well as future cash flows and earnings;

• competition;

• the effect, interpretation or application of new or existing laws, regulations, court decisions and accounting pronouncements;

45

• the availability of sources of financing;

• the level of net charge-offs, delinquencies and prepayments on the loans and leases we originate;

• the viability of GM-franchised dealers that are commercial loan customers;

• the prices at which used cars are sold in the wholesale auction markets; and

• changes in business strategy, including acquisitions and expansion of product lines and credit risk appetite.

If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected.

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

There have been no significant changes in our exposure to interest rate risk since December 31, 2013. See Item 7A - "Quantitative and Qualitative Disclosures About Market Risk" in our Form 10-K.

Item 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures designed to provide reasonable assurance that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended ("Exchange Act"), is recorded, processed, summarized and reported within the specified time periods and accumulated and communicated to our management, including our principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

Our management, with the participation of our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO"), evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) promulgated under the Exchange Act) at September 30, 2014. Based on this evaluation required by paragraph (b) of Rules 13a-15 and 15d-15, our CEO and CFO concluded that our disclosure controls and procedures were effective at September 30, 2014.

Changes in Internal Control Over Financial Reporting

There were no changes made in our internal control over financial reporting during the quarter ended September 30, 2014, that have materially affected, or are reasonably likely to materially affect, our internal controls over financial reporting.

Limitations Inherent in all Controls

Our management, including the CEO and CFO, recognize that the disclosure controls and internal controls (discussed above) cannot prevent all errors or all attempts at fraud. Any controls system, no matter how well crafted and operated, can only provide reasonable, and not absolute, assurance of achieving the desired control objectives, and management was required to apply its judgment in evaluating the cost-benefit relationship of possible controls and procedures. Because of the inherent limitations in any control system, no evaluation or implementation of a control system can provide complete assurance that all control issues and all possible instances of fraud have been or will be detected.

Part II. OTHER INFORMATION

Item 1. Legal Proceedings

In July 2014, in connection with an investigation by the U.S. Department of Justice in contemplation of a civil proceeding for potential violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, we were served with a subpoena by the U.S. Department of Justice directing us to produce certain documents relating to our and our subsidiaries’ and affiliates’ origination and securitization of subprime automobile loans since 2007. Among other matters, the subpoena requests information relating to the underwriting criteria used to originate these automobile loans and the representations and warranties relating to those underwriting criteria that were made in connection with the securitization of the automobile loans. In September 2014, we were served with additional investigative subpoenas to produce documents from state attorneys general and other governmental offices relating to our subprime auto finance business and securitization of subprime auto loans.  We are investigating these matters internally and believe we are cooperating with all requests.  Such investigations could in the future result in the imposition of damages, fines or civil or criminal claims and/or penalties. No assurance can be given that the ultimate outcome of the investigations or any resulting proceedings would not materially and adversely affect us or any of our subsidiaries and affiliates.

Item 1A. Risk Factors

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The risks described in our Annual Report on Form 10-K are not the only risks facing us. Additional risks and uncertainties not currently known to us or that we currently believe to be immaterial also may adversely affect our business, financial condition and/or operating results. This section updates our risk factors as stated in our Annual Report in Form 10-K to reflect material developments since our Form 10-K was filed.

Our operations are subject to regulation, supervision and licensing under various statutes, ordinances and regulations.

As an entity operating in the financial services sector, we are required to comply with a wide variety of laws and regulations that may be costly to adhere to and may affect both our operating results and our ability to service our earning assets. Compliance with these laws and regulations requires that we maintain forms, processes, procedures, controls and the infrastructure to support these requirements and these laws and regulations often create operational constraints both on our ability to implement servicing procedures and on pricing. Laws in the financial services industry are designed primarily for the protection of consumers. The failure to comply with these laws could result in significant statutory civil and criminal penalties for us, monetary damages, attorneys’ fees and costs, possible revocation of licenses and damage to reputation, brand and valued customer relationships.

In July 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act (the "Dodd-Frank Act"). The Dodd-Frank Act is extensive and significant legislation that, among other things, strengthens the regulatory oversight of securities and capital markets activities by the SEC and increases the regulation of the securitization markets. The various requirements of the Dodd-Frank Act may substantially impact the origination, servicing and securitization program of our subsidiaries.

The Dodd-Frank Act also created the Consumer Financial Protection Bureau ("CFPB"), a federal agency that has extensive rulemaking and enforcement authority and that began operating in 2011. The CFPB and the Federal Trade Commission ("FTC") have recently become more active in investigating the products, services and operations of credit providers, including banks and other finance companies engaged in auto finance activities, such as us. The CFPB has recently indicated an intention to review the actions of indirect auto finance companies such as us with regard to pricing activities and issued a bulletin to such lenders on how to limit fair lending risk under the Equal Credit Opportunity Act. In September 2014, the CFPB proposed supervising the largest nonbank auto lenders such as us, which is the initial step that is expected to lead to examinations of such nonbank auto lenders as early as 2015. Gaining supervisory power over nonbank lenders such as us will allow the agency to conduct comprehensive and rigorous on-site examinations that could result in enforcement actions, fines, and mandated process, procedure or product-related changes or consumer refunds if violations of law or unfair lending practices are found. Both the FTC and the CFPB have announced various enforcement actions against lenders beginning in 2012 involving significant penalties, cease and desist orders, and similar remedies that, if applicable to auto finance providers and to products, services and operations of the nature offered by us, may require us to cease or alter certain business practices, which could have a material adverse effect on our financial condition and results of operations.

In July 2014, in connection with an investigation by the U.S. Department of Justice in contemplation of a civil proceeding for potential violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, we were served with a subpoena by the U.S. Department of Justice directing us to produce certain documents relating to our and our subsidiaries’ and affiliates’ origination and securitization of subprime automobile loans since 2007. Among other matters, the subpoena requests information relating to the underwriting criteria used to originate these automobile loans and the representations and warranties relating to those underwriting criteria that were made in connection with the securitization of the automobile loans. In September 2014, we were served with additional investigative subpoenas to produce documents from state attorneys general and other governmental offices relating to our subprime auto finance business and securitization of subprime auto loans.  We are investigating these matters internally and believe we are cooperating with all requests.  Such investigations could in the future result in the imposition of damages, fines or civil or criminal claims and/or penalties. No assurance can be given that the ultimate outcome of the investigations or any resulting proceedings would not materially and adversely affect us or any of our subsidiaries and affiliates.

47

Item 6. Exhibits

4.1	First Amendment to Third Supplemental Indenture, dated October 17, 2014	Filed Herewith
4.2	First Amendment to Fourth Supplemental Indenture, dated October 17, 2014	Filed Herewith
31.1	Officers' Certifications of Periodic Report pursuant to Section 302 of Sarbanes-Oxley Act of 2002	Filed Herewith
32.1	Officers' Certifications of Periodic Report pursuant to Section 906 of Sarbanes-Oxley Act of 2002	Furnished with this Report
101.INS*	XBRL Instance Document	Furnished with this Report
101.SCH*	XBRL Taxonomy Extension Schema Document	Furnished with this Report
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document	Furnished with this Report
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document	Furnished with this Report
101.LAB*	XBRL Taxonomy Extension Label Linkbase Document	Furnished with this Report
101.PRE*	XBRL Taxonomy Presentation Linkbase Document	Furnished with this Report

__________

* Submitted electronically with this Report.

48

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

			General Motors Financial Company, Inc.
			(Registrant)
Date:	October 23, 2014	By:	/S/    CHRIS A. CHOATE
			(Signature)
			Chris A. Choate
			Executive Vice President and
			Chief Financial Officer

49

EX-4.1

Exhibit 4.1

FIRST AMENDMENT TO THIRD SUPPLEMENTAL INDENTURE

THIS FIRST AMENDMENT TO THIRD SUPPLEMENTAL INDENTURE (this “Amendment”), entered into as of October 17, 2014, between General Motors Financial Company, Inc., a Texas corporation (the “Company”), AmeriCredit Financial Services, Inc., a Delaware corporation (the “Guarantor”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”).

RECITALS

WHEREAS, the Company, the Guarantor and the Trustee entered into an Indenture, dated as of July 10, 2014 (the “Base Indenture” and, as supplemented by the first supplemental indenture and second supplemental indenture thereto, each dated as of July 10, 2014, among the Company, the Trustee and the Guarantor, and as further supplemented by the Third Supplemental Indenture, dated as of September 25, 2014 (the “Third Supplemental Indenture”), between the Company, the Guarantor and the Trustee) providing for the issuance by the Company from time to time of one or more series of Securities (the Base Indenture, together with all supplements and amendments thereto is collectively referred to as the “Indenture”);

WHEREAS, Section 9.01 of the Indenture provides that the Company and the Trustee may amend or supplement the Indenture without notice to or the consent of any Holder to correct any provision contained in the Indenture which may be defective or inconsistent with any other provision contained in the Indenture or to make such other provisions in regard to matters or questions arising under the Indenture as the Board of Directors of the Company may deem necessary or desirable and which shall not materially adversely affect the interests of the Holders of the Securities;

WHEREAS, Section 10 of the Global Notes, which is made a part of the Indenture by Section 2.01 of the Third Supplemental Indenture, provides that without the consent of any Holder of a Note (as defined therein), the Indenture or the Notes may be amended to cure any defect or inconsistency provided that such action does not materially adversely affect the interests of the Holders of the Notes or to make any change that would provide additional benefits to the Holders of the Notes or that does not materially affect the legal rights under the Indenture of any Holder of the Notes; and

WHEREAS, the Company has requested the Trustee to execute and deliver this Amendment to the Third Supplemental Indenture as more particularly described below, and in support thereof has delivered an Officers’ Certificate and Opinion of Counsel to the Trustee to the effect that the conditions precedent contained in the Indenture with respect to the execution and delivery of the Amendment have been satisfied and that the Amendment is authorized or permitted by the Indenture.

AGREEMENT

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this Amendment hereby agree as follows:

Section 1. Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture.

Section 2. Section 3.02(a)(ii) of the Third Supplemental Indenture is hereby deleted in its entirety and replaced with the following:

“(ii)    as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and interest in respect of the Notes to be redeemed (exclusive of interest accrued and unpaid as of the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to the Treasury Rate plus 30 basis points, plus accrued and unpaid interest thereon to the date of redemption.”

Section 3. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.

Section 4. This Amendment may be signed in various counterparts which together will constitute one and the same instrument.

Section 5. Except as expressly amended and modified by this Amendment, the Indenture shall continue in full force and effect in accordance with its terms. To the extent any of the terms and provisions of the Indenture are inconsistent with the terms and provisions of this Amendment, the terms and provisions of this Amendment shall govern and control.

Section 6. The Trustee shall not be responsible for or in respect of the validity or sufficiency of this Amendment or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

General Motors Financial Company, Inc.

By:____________________________

Name: Chris A. Choate

Title: Executive Vice President and Chief

            Financial Officer

AmeriCredit Financial Services, Inc.

By:_____________________________

Name: Chris A. Choate

Title: Executive Vice President and Chief

            Financial Officer

Wells Fargo Bank, National Association,

as Trustee

          By:________________________________

          Name: Patrick T. Giordano

          Title: Vice President

EX-4.2

Exhibit 4.2

FIRST AMENDMENT TO FOURTH SUPPLEMENTAL INDENTURE

THIS FIRST AMENDMENT TO FOURTH SUPPLEMENTAL INDENTURE (this “Amendment”), entered into as of October 17, 2014, between General Motors Financial Company, Inc., a Texas corporation (the “Company”), AmeriCredit Financial Services, Inc., a Delaware corporation (the “Guarantor”), and Wells Fargo Bank, National Association, as trustee (the “Trustee”).

RECITALS

WHEREAS, the Company, the Guarantor and the Trustee entered into an Indenture, dated as of July 10, 2014 (the “Base Indenture” and, as supplemented by the first supplemental indenture and second supplemental indenture thereto, each dated as of July 10, 2014, among the Company, the Trustee and the Guarantor, and the third supplemental indenture, dated as of September 25, 2014, and as further supplemented by the Fourth Supplemental Indenture, dated as of September 25, 2014 (the “Fourth Supplemental Indenture”), between the Company, the Guarantor and the Trustee) providing for the issuance by the Company from time to time of one or more series of Securities (the Base Indenture, together with all supplements and amendments thereto is collectively referred to as the “Indenture”);

WHEREAS, Section 9.01 of the Indenture provides that the Company and the Trustee may amend or supplement the Indenture without notice to or the consent of any Holder to correct any provision contained in the Indenture which may be defective or inconsistent with any other provision contained in the Indenture or to make such other provisions in regard to matters or questions arising under the Indenture as the Board of Directors of the Company may deem necessary or desirable and which shall not materially adversely affect the interests of the Holders of the Securities;

WHEREAS, Section 10 of the Global Notes, which is made a part of the Indenture by Section 2.01 of the Fourth Supplemental Indenture, provides that without the consent of any Holder of a Note (as defined therein), the Indenture or the Notes may be amended to cure any defect or inconsistency provided that such action does not materially adversely affect the interests of the Holders of the Notes or to make any change that would provide additional benefits to the Holders of the Notes or that does not materially affect the legal rights under the Indenture of any Holder of the Notes; and

WHEREAS, the Company has requested the Trustee to execute and deliver this Amendment to the Fourth Supplemental Indenture as more particularly described below, and in support thereof has delivered an Officers’ Certificate and Opinion of Counsel to the Trustee to the effect that the conditions precedent contained in the Indenture with respect to the execution and delivery of the Amendment have been satisfied and that the Amendment is authorized or permitted by the Indenture.

AGREEMENT

NOW, THEREFORE, in consideration of the premises and mutual covenants herein contained and intending to be legally bound, the parties to this Amendment hereby agree as follows:

Section 1. Capitalized terms used herein and not otherwise defined herein are used as defined in the Indenture.

Section 2. Section 3.02(a)(ii) of the Fourth Supplemental Indenture is hereby deleted in its entirety and replaced with the following:

“(ii)    as determined by the Quotation Agent, the sum of the present values of the Remaining Scheduled Payments of principal and interest in respect of the Notes to be redeemed (exclusive of interest accrued and unpaid as of the date of redemption), discounted to the redemption date on a semi-annual basis (assuming a 360-day year consisting of twelve 30-day months), at a rate equal to the Treasury Rate plus 35 basis points, plus accrued and unpaid interest thereon to the date of redemption.”

Section 3. This Amendment shall be governed by and construed in accordance with the laws of the State of New York.

Section 4. This Amendment may be signed in various counterparts which together will constitute one and the same instrument.

Section 5. Except as expressly amended and modified by this Amendment, the Indenture shall continue in full force and effect in accordance with its terms. To the extent any of the terms and provisions of the Indenture are inconsistent with the terms and provisions of this Amendment, the terms and provisions of this Amendment shall govern and control.

Section 6. The Trustee shall not be responsible for or in respect of the validity or sufficiency of this Amendment or for or in respect of the recitals contained herein, all of which recitals are made solely by the Company.

[Remainder of page intentionally left blank.]

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the date first above written.

General Motors Financial Company, Inc.

By:____________________________

Name: Chris A. Choate

Title: Executive Vice President and Chief

            Financial Officer

AmeriCredit Financial Services, Inc.

By:_____________________________

Name: Chris A. Choate

Title: Executive Vice President and Chief

            Financial Officer

Wells Fargo Bank, National Association,

as Trustee

          By:________________________________

          Name: Patrick T. Giordano

          Title: Vice President

EX-31.1

Exhibit 31.1

CERTIFICATIONS

I, Daniel E. Berce, certify that:

(1) I have reviewed the Quarterly Report on Form 10-Q of General Motors Financial Company, Inc. (the "Company") for the nine months ended September 30, 2014 (this "report");

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the periods covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;

(4) The Company's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have: (i) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (ii) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (iii) evaluated the effectiveness of the Company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (iv) disclosed in this report any change in the Company's internal control over financial reporting that occurred during the Company's most recent fiscal quarter (the Company's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting; and

(5) The Company's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company's auditors and to the Audit Committee of the Company's Board of Directors (or persons performing equivalent functions): (i) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company's internal control over financial reporting.

Dated: October 23, 2014

 /s/ Daniel E. Berce

Daniel E. Berce

President and Chief Executive Officer

I, Chris A. Choate, certify that:

(1) I have reviewed the Quarterly Report on Form 10-Q of General Motors Financial Company, Inc. (the "Company") for the nine months ended September 30, 2014 (this "report");

(2) Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the periods covered by this report;

(3) Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Company as of, and for, the periods presented in this report;

(4) The Company's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Company and have: (i) designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Company, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (ii) designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (iii) evaluated the effectiveness of the Company's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and (iv) disclosed in this report any change in the Company's internal control over financial reporting that occurred during the Company's most recent fiscal quarter (the Company's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Company's internal control over financial reporting; and

(5) The Company's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Company's auditors and to the Audit Committee of the Company's Board of Directors (or persons performing equivalent functions): (i) all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Company's ability to record, process, summarize and report financial information; and (ii) any fraud, whether or not material, that involves management or other employees who have a significant role in the Company's internal control over financial reporting.

Dated: October 23, 2014

 /s/ Chris A. Choate

Chris A. Choate

Executive Vice President, Chief

Financial Officer and Treasurer

EX-32.1

Exhibit 32.1

CERTIFICATION OF PERIODIC REPORT PURSUANT TO SECTION 906

OF SARBANES-OXLEY ACT OF 2002

I, Daniel E. Berce, do hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

(1) The Quarterly Report on Form 10-Q of the Company for the nine months ended September 30, 2014 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: October 23, 2014

 /s/ Daniel E. Berce

Daniel E. Berce

President and Chief Executive Officer

CERTIFICATION OF PERIODIC REPORT PURSUANT TO SECTION 906

OF SARBANES-OXLEY ACT OF 2002

I, Chris A. Choate, do hereby certify, pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350, that:

(1) The Quarterly Report on Form 10-Q of the Company for the nine months ended September 30, 2014 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m or 78o(d)); and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Dated: October 23, 2014

 /s/ Chris A. Choate

Chris A. Choate

Executive Vice President, Chief

Financial Officer and Treasurer

XML

Finance Receivables Allowance for Loan Losses (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Provision for Loan, Lease, and Other Losses	$ 160	$ 117	$ 408	$ 311
Post-Acquisition Portfolio | Consumer Finance Receivables
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Losses	575	423	497	345
Provision for Loan, Lease, and Other Losses	162	116	421	293
Financing Receivable, Allowance for Credit Losses, Write-downs	(230)	(171)	(645)	(419)
Financing Receivable, Allowance for Credit Losses, Recovery	106	99	340	248
Financing Receivable Allowance for Credit Losses Foreign Currency Translation	(5)		(5)
Financing Receivable, Allowance for Credit Losses	608	467	608	467
Post-Acquisition Portfolio | North America Segment [Member] | Consumer Finance Receivables
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Losses	515	415	468	345
Provision for Loan, Lease, and Other Losses	119	107	312	276
Financing Receivable, Allowance for Credit Losses, Write-downs	(194)	(153)	(543)	(401)
Financing Receivable, Allowance for Credit Losses, Recovery	96	84	299	233
Financing Receivable, Allowance for Credit Losses	536	453	536	453
Post-Acquisition Portfolio | International Segment [Member] | Consumer Finance Receivables
Financing Receivable, Allowance for Credit Losses [Roll Forward]
Financing Receivable, Allowance for Credit Losses	60	8	29	0
Provision for Loan, Lease, and Other Losses	43	9	109	17
Financing Receivable, Allowance for Credit Losses, Write-downs	(36)	(18)	(102)	(18)
Financing Receivable, Allowance for Credit Losses, Recovery	10	15	41	15
Financing Receivable Allowance for Credit Losses Foreign Currency Translation	(5)		(5)
Financing Receivable, Allowance for Credit Losses	$ 72	$ 14	$ 72	$ 14

XML

Variable Interest Entities (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Variable Interest Entity [Line Items]
Restricted Cash and Cash Equivalents	$ 2,060	$ 1,958
Finance receivables, net	31,722	29,282
Variable Interest Entity, Primary Beneficiary, Aggregated Disclosure [Member]
Variable Interest Entity [Line Items]
Restricted Cash and Cash Equivalents	1,696	1,523
Finance receivables, net	25,512	23,584
Liabilities Securitized	$ 20,321	$ 19,448

XML

Leased Vehicles Summary of Leased Vehicles (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Property Subject to or Available for Operating Lease, Net [Abstract]
Property Subject to or Available for Operating Lease, Gross	$ 7,972	$ 4,684
Manufacturing incemtives	(1,171)	(659)
Leased Vehicles Accounted For Operating Leases Net Of Manufacturing Incentives	6,801	4,025	3,647	1,976
Property Subject to or Available for Operating Lease, Accumulated Depreciation	(1,005)	(642)
Leased vehicles, net	$ 5,796	$ 3,383

XML

Guarantor Consolidating Financial Statements Guarantor Cash Flow (Details) (USD $)	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities	$ 1,400,000,000	$ 1,254,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net	(10,850,000,000)	(6,310,000,000)
Principal Collection and Recoveries on Receivables	(8,124,000,000)	(5,099,000,000)
Proceeds from sale of consumer finance receivables, net	0	0
Net funding of commercial finance receivables	(408,000,000)	(619,000,000)
Purchases of leased vehicles, net	(3,227,000,000)	(1,746,000,000)
Proceeds from termination of leased vehicles	395,000,000	142,000,000
Payments to Acquire Businesses, Net of Cash Acquired	(46,000,000)	(2,107,000,000)
Purchases of property and equipment	(37,000,000)	(10,000,000)
Change in restricted cash	(187,000,000)	(74,000,000)
Change in other assets	(2,000,000)	(22,000,000)
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	0
Net change in investment in affiliates		0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(6,238,000,000)	(5,647,000,000)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net increase in debt (original maturities less than three months)	(913,000,000)	0
Borrowings and issuance of secured debt	15,847,000,000	11,676,000,000
Payments on secured debt	(13,568,000,000)	(9,009,000,000)
Proceeds from Issuance of Unsecured Debt	5,403,000,000	4,198,000,000
Repayments of Unsecured Debt	(1,339,000,000)	(1,817,000,000)
Repayment of acquisition related debt	0	(1,416,000,000)
Proceeds from Contributed Capital	0	(1,300,000,000)
Payments of Debt Issuance Costs	(107,000,000)	(69,000,000)
Increase (Decrease) Due from Affiliates		0
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	5,323,000,000	4,863,000,000
Cash and Cash Equivalents, Period Increase (Decrease)	485,000,000	470,000,000
Effect of Exchange Rate on Cash and Cash Equivalents	(42,000,000)	(3,000,000)
Cash and cash equivalents	1,517,000,000	1,756,000,000
Parent Company [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities	255,000,000	106,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net		0
Principal Collection and Recoveries on Receivables		0
Proceeds from sale of consumer finance receivables, net		0
Net funding of commercial finance receivables		0
Purchases of leased vehicles, net		0
Payments to Acquire Businesses, Net of Cash Acquired	46,000,000	2,547,000,000
Purchases of property and equipment		0
Change in restricted cash		0
Change in other assets		0
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	0
Net change in investment in affiliates		29,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(46,000,000)	(2,576,000,000)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Borrowings and issuance of secured debt		0
Payments on secured debt		0
Proceeds from Issuance of Unsecured Debt	3,500,000,000	2,500,000,000
Proceeds from Contributed Capital	(26,000,000)	1,300,000,000
Payments of Debt Issuance Costs	(39,000,000)	(29,000,000)
Increase (Decrease) Due from Affiliates	3,696,000,000	(1,301,000,000)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	(209,000,000)	2,470,000,000
Cash and Cash Equivalents, Period Increase (Decrease)		0
Effect of Exchange Rate on Cash and Cash Equivalents		0
Cash and cash equivalents	0	0
Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities	233,000,000	286,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net	(4,872,000,000)	(3,971,000,000)
Principal Collection and Recoveries on Receivables	109,000,000	0
Proceeds from sale of consumer finance receivables, net	3,319,000,000	(4,207,000,000)
Net funding of commercial finance receivables	160,000,000	(2,326,000,000)
Proceeds from sale of commercial finance receivables, net		2,593,000,000
Purchases of leased vehicles, net		0
Payments to Acquire Businesses, Net of Cash Acquired		863,000,000
Purchases of property and equipment	(4,000,000)	(1,000,000)
Change in restricted cash	(1,000,000)	0
Change in other assets		(44,000,000)
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	(546,000,000)
Net change in investment in affiliates		350,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(959,000,000)	(755,000,000)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Borrowings and issuance of secured debt		0
Payments on secured debt		0
Payments of Debt Issuance Costs		0
Increase (Decrease) Due from Affiliates	(1,140,000,000)	467,000,000
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	1,140,000,000	467,000,000
Cash and Cash Equivalents, Period Increase (Decrease)	414,000,000	(2,000,000)
Effect of Exchange Rate on Cash and Cash Equivalents	0	0
Cash and cash equivalents	809,000,000	1,250,000,000
Non-Guarantor Subsidiaries [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities	912,000,000	862,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net	(9,297,000,000)	(6,546,000,000)
Principal Collection and Recoveries on Receivables	(8,233,000,000)	(5,099,000,000)
Proceeds from sale of consumer finance receivables, net		0
Net funding of commercial finance receivables	(568,000,000)	(886,000,000)
Purchases of leased vehicles, net	(3,227,000,000)	(1,746,000,000)
Proceeds from termination of leased vehicles	395,000,000	142,000,000
Payments to Acquire Businesses, Net of Cash Acquired		(440,000,000)
Purchases of property and equipment	(33,000,000)	(9,000,000)
Change in restricted cash	(188,000,000)	(74,000,000)
Change in other assets	2,000,000	22,000,000
Net change in investment in affiliates		0
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(4,687,000,000)	(3,558,000,000)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net increase in debt (original maturities less than three months)	(913,000,000)
Borrowings and issuance of secured debt	15,847,000,000	11,676,000,000
Payments on secured debt	(13,568,000,000)	(9,009,000,000)
Proceeds from Issuance of Unsecured Debt	1,903,000,000	1,698,000,000
Repayments of Unsecured Debt	(1,339,000,000)	(1,817,000,000)
Repayment of acquisition related debt		(1,416,000,000)
Proceeds from Contributed Capital	572,000,000
Payments of Debt Issuance Costs	(68,000,000)	(40,000,000)
Increase (Decrease) Due from Affiliates	(2,556,000,000)	1,697,000,000
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	3,846,000,000	3,171,000,000
Cash and Cash Equivalents, Period Increase (Decrease)	71,000,000	475,000,000
Effect of Exchange Rate on Cash and Cash Equivalents	(42,000,000)	(6,000,000)
Cash and cash equivalents	708,000,000	506,000,000
Consolidation, Eliminations [Member]
Condensed Cash Flow Statements, Captions [Line Items]
Net Cash Provided by (Used in) Operating Activities		0
Consolidation, Eliminations [Member]
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net	3,319,000,000	(4,207,000,000)
Principal Collection and Recoveries on Receivables		0
Proceeds from sale of consumer finance receivables, net	(3,319,000,000)	4,207,000,000
Net funding of commercial finance receivables	0	2,593,000,000
Proceeds from sale of commercial finance receivables, net		(2,593,000,000)
Purchases of leased vehicles, net		0
Payments to Acquire Businesses, Net of Cash Acquired		(863,000,000)
Purchases of property and equipment		0
Change in restricted cash		0
Change in other assets		0
Investments in and Advances to Affiliates, at Fair Value, Period Increase (Decrease)	546,000,000
Net change in investment in affiliates		379,000,000
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(546,000,000)	1,242,000,000
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Borrowings and issuance of secured debt		0
Payments on secured debt		0
Proceeds from Contributed Capital	(546,000,000)
Payments of Debt Issuance Costs		0
Increase (Decrease) Due from Affiliates		863,000,000
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	546,000,000	(1,245,000,000)
Cash and Cash Equivalents, Period Increase (Decrease)	0	(3,000,000)
Effect of Exchange Rate on Cash and Cash Equivalents		3,000,000
Cash and cash equivalents	$ 0

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Derivative Financial Instruments And Hedging Activities Derivative (Narrative) (Details)	Sep. 30, 2014 USD ($)	Sep. 30, 2014 Currency Swap [Member] USD ($)	Sep. 30, 2014 Currency Swap [Member] GBP (£)
Derivative [Line Items]
Derivative, Notional Amount		$ 550,000,000	£ 350,000,000
Intercompany loans	$ 1,700,000,000

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Restricted Cash (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	$ 2,060	$ 1,958
Securitization Notes Payable [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	1,403	1,098
Revolving Credit Facility [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	293	477
Other Liabilities [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	364	383
North America Segment [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	1,106	978
North America Segment [Member] | Securitization Notes Payable [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	1,046	890
North America Segment [Member] | Revolving Credit Facility [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	26	62
North America Segment [Member] | Other Liabilities [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	34	26
International Segment [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	954	980
International Segment [Member] | Securitization Notes Payable [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	357	208
International Segment [Member] | Revolving Credit Facility [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	267	415
International Segment [Member] | Other Liabilities [Member]
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted Cash and Cash Equivalents	$ 330	$ 357

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Summary Of Significant Accounting Policies Summary of Significant Accounting Policies (Narrative) (Details) (USD $)	9 Months Ended								1 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Sep. 30, 2014 Maximum [Member]	Sep. 30, 2014 Gmac Saic [Member] Rate	Sep. 30, 2014 Junior Subordinated Revolving Credit Facility [Member]	Sep. 30, 2014 General Motors [Member]	Oct. 23, 2014 Subsequent Event [Member] General Motors [Member] Amended Credit Facility [Member]	Oct. 23, 2014 Subsequent Event [Member] General Motors [Member] Three Year Credit Facility [Member]	Oct. 23, 2014 Subsequent Event [Member] General Motors [Member] Five Year Credit Facility [Member]
Summary of Significant Accounting Policies [Line Items]
Adjustment to Net cash Provided by Operating Activities		$ 100,000,000
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners					40.00%
Number of Operating Segments	2
Due from Related Parties	195,000,000		129,000,000
Intercompany Receivable - Commercial Lending	116,000,000		62,000,000
Intercompany Receivables - Wholesale financing	342,000,000		588,000,000
Related party payable	603,000,000		368,000,000
Deferred income taxes	21,000,000		87,000,000	1,000,000,000
Related party taxes payable	877,000,000		643,000,000
Line of Credit Facility, Maximum Borrowing Capacity							4,000,000,000	4,000,000,000	2,000,000,000
Line of Credit Facilities - GM Related Party Facility	600,000,000					1,000,000,000
Line of Credit Facility, Current Borrowing Capacity							11,000,000,000	12,500,000,000	5,000,000,000	7,500,000,000
Line of Credit Facility, Expiration Period									3 years	5 years
Adjustment to Net cash Used by Investing Activities		$ 100,000,000

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Derivative Financial Instruments And Hedging Activities Derivatives Income (Losses) Recognized in Income (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended				9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Gain (Loss) on Interest Rate Derivative Instruments Not Designated as Hedging Instruments	$ (9)	[1]	$ 5	[1]	$ (18)	[1]	$ 2	[1]
Gain (Loss) on Foreign Currency Derivative Instruments Not Designated as Hedging Instruments	141	[2]	(99)	[2]	99	[2]	(111)	[2]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net	$ 132		$ (94)		$ 81		$ (109)

[1] (a)(Losses) gains recognized in earnings are included in interest expense.

[2] (b)Gains for the three and nine months ended September 30, 2014 are substantially offset by translation losses (included in operating expenses) related to the foreign currency-denominated loans described above.

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Debt Debt (Tables)

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Schedule of Debt [Table Text Block]

Debt consists of the following (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Secured
Revolving credit facilities	$	697	$	5,736	$	6,433	$	1,678	$	7,322	$	9,000
Securitization notes payable	12,177		4,322		16,499		10,801		2,272		13,073
Total secured	$	12,874	$	10,058	$	22,932	$	12,479	$	9,594	$	22,073
Unsecured
Senior notes	$	7,858	$	—	$	7,858	$	4,000	$	—	$	4,000
Credit facilities	—		2,217		2,217		—		2,370		2,370
Other unsecured debt	—		767		767		—		603		603
Total unsecured	$	7,858	$	2,984	$	10,842	$	4,000	$	2,973	$	6,973

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Leased Vehicles Minimum rental payments (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014
Operating Leases, Future Minimum Payments Receivable [Abstract]
Operating Leases, Future Minimum Payments Receivable, Current	$ 272
Operating Leases, Future Minimum Payments Receivable, in Two Years	1,012
Operating Leases, Future Minimum Payments Receivable, in Three Years	780
Operating Leases, Future Minimum Payments Receivable, in Four Years	366
Operating Leases, Future Minimum Payments Receivable, in Five Years	51
Operating Leases, Future Minimum Payments Receivable, Thereafter	$ 3

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Finance Receivables Troubled Debt Restructurings (Details) (North America Segment [Member], Consumer Finance Receivables, USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
North America Segment [Member] | Consumer Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Modifications, Recorded Investment	$ 1,123		$ 1,123		$ 767
TDR, allowance for loan losses	(140)		(140)		(103)
TDR, outstanding recorded investment, net of allowances	983		983		664
Impaired Financing Receivable, Unpaid Principal Balance	1,142		1,142		779
Impaired Financing Receivable, Average Recorded Investment	1,057	552	937	417
Loans and Leases Receivable, Impaired, Troubled Debt, Interest Income Earne	124	20	183	45
Troubled Debt Restructurings - Number of Loans Entering a Modification Program	13,543	11,364	35,748	27,302
Troubled Debt Restructurings - Amount of Loans That Entered a Loan Modification Program	$ 232	$ 204	$ 598	$ 478

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Finance Receivables Accretable Yield (Details) (Consumer Finance Receivables, USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
North America Segment [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	$ 7	$ 19	$ 40	$ 73
Pre-Acquisition Portfolio
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at beginning of period	177	394	255	404
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Additions		0		127
Accretion of accretable yield	(43)	(85)	(154)	(269)
Foreign Currency Translation	(3)	1	(3)	(6)
Balance at end of period	138	329	138	329
Pre-Acquisition Portfolio | North America Segment [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at beginning of period	133	298	181	404
Accretion of accretable yield	(32)	(65)	(113)	(225)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	0	0	33	54
Foreign Currency Translation	0	0	0	0
Balance at end of period	101	233	101	233
Pre-Acquisition Portfolio | International Segment [Member]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule [Roll Forward]
Balance at beginning of period	44	96	74	0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Additions		0		127
Accretion of accretable yield	(11)	(20)	(41)	(44)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	7	19	7	19
Foreign Currency Translation	(3)	1	(3)	(6)
Balance at end of period	$ 37	$ 96	$ 37	$ 96

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Debt Short Term and Long Term Debt (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Short Term and Long Term Debt [Line Items]
Secured debt	$ 22,932	$ 22,073
Unsecured debt	10,842	6,973
Revolving Credit Facility [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	6,433	9,000
Unsecured debt	2,217	2,370
Securitization Notes Payable [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	16,499	13,073
Senior Notes [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	7,858	4,000
Other Unsecured Debt [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	767	603
North America Segment [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	12,874	12,479
Unsecured debt	7,858	4,000
North America Segment [Member] | Revolving Credit Facility [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	697	1,678
Unsecured debt	0	0
North America Segment [Member] | Securitization Notes Payable [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	12,177	10,801
North America Segment [Member] | Senior Notes [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	7,858	4,000
International Segment [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	10,058	9,594
Unsecured debt	2,984	2,973
International Segment [Member] | Revolving Credit Facility [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	5,736	7,322
Unsecured debt	2,217	2,370
International Segment [Member] | Securitization Notes Payable [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	4,322	2,272
International Segment [Member] | Senior Notes [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	0	0
International Segment [Member] | Other Unsecured Debt [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	$ 767	$ 603

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Regulatory Capital and Other Regulatory Matters (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 43,573	$ 37,990
International Regulated Bank And Finance Companies [Member]
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 11,400	$ 12,100

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Income Taxes (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2014 Rate	Sep. 30, 2013 Rate	Sep. 30, 2014 Rate	Sep. 30, 2013 Rate
Income Tax Disclosure [Abstract]
Effective Income Tax Rate	24.00%	32.80%	31.20%	33.90%

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Leased Vehicles Leased Vehicles (Narrative) (Details) (Canadian Subsidiary [Member], Property Subject to Operating Lease [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Canadian Subsidiary [Member] | Property Subject to Operating Lease [Member]
Servicing Assets at Fair Value [Line Items]
Servicing Asset at Fair Value, Amount	$ 146	$ 303

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Leased Vehicles

9 Months Ended

Sep. 30, 2014

Property Subject to or Available for Operating Lease, Net [Abstract]

Operating Leases of Lessor Disclosure [Text Block]

Leased Vehicles

Our operating lease program is offered primarily in the North America Segment. At September 30, 2014 and December 31, 2013, the amount of leased vehicles accounted for as operating leases in the International Segment is insignificant; therefore, the following information regarding our leased vehicles is presented on a consolidated basis.

Following is a summary of our leased vehicles (in millions):

	September 30, 2014			December 31, 2013
Leased vehicles	$	7,972		$	4,684
Manufacturer incentives	(1,171		)	(659		)
	6,801			4,025
Less: accumulated depreciation	(1,005		)	(642		)
Leased vehicles, net	$	5,796		$	3,383

A summary of the changes in our leased vehicles is as follows (in millions):

	Nine Months Ended September 30,
	2014			2013
Balance at beginning of period	$	4,025		$	1,976
International operations acquisition	—			9
Leased vehicles purchased	4,077			2,180
Leased vehicles returned - end of term	(662		)	(192		)
Leased vehicles returned - default	(39		)	(16		)
Manufacturer incentives	(524		)	(288		)
Foreign currency translation	(76		)	(22		)
Balance at end of period	$	6,801		$	3,647

The following table summarizes minimum rental payments due to us as lessor under operating leases (in millions):

	Years Ending December 31,
	2014		2015		2016		2017		2018		2019
Minimum rental payments under operating leases	$	272	$	1,012	$	780	$	366	$	51	$	3

At September 30, 2014 and December 31, 2013, our Canadian subsidiary was servicing $146 million and $303 million of leased vehicles for a third party.

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Fair Value Of Financial Instruments (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Restricted cash	$ 2,060		$ 1,958
Estimate of Fair Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,517	[1]	1,074	[1]
Finance Receivables, Net	32,064	[2]	29,301	[2]
Restricted cash	2,060	[1]	1,958	[1]
Estimate of Fair Value Measurement [Member] | Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	15	[3]	11	[3]
Derivative Liability	38	[3]	17	[3]
Estimate of Fair Value Measurement [Member] | Interest Rate Cap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	11	[4]	7	[4]
Derivative Liability	11	[4]	7	[4]
Estimate of Fair Value Measurement [Member] | Foreign Exchange Contract [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0	[4]	3	[4]
Derivative Liability	20	[4]	29	[4]
Estimate of Fair Value Measurement [Member] | North America Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	12,935	[5]	12,565	[5]
Estimate of Fair Value Measurement [Member] | North America Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	8,013	[6]	4,106	[6]
Estimate of Fair Value Measurement [Member] | International Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	5,409	[7]	5,113	[7]
Estimate of Fair Value Measurement [Member] | International Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	4,641	[8]	4,492	[8]
Estimate of Fair Value Measurement [Member] | International Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	2,862	[9]	1,282	[9]
Estimate of Fair Value Measurement [Member] | International Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	127	[8]	1,690	[8]
Reported Value Measurement [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,517		1,074
Finance Receivables, Net	31,722		29,282
Restricted cash	2,060		1,958
Reported Value Measurement [Member] | Interest Rate Swap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	15		11
Derivative Liability	38		17
Reported Value Measurement [Member] | Interest Rate Cap [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	11		7
Derivative Liability	11		7
Reported Value Measurement [Member] | Foreign Exchange Contract [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Derivative Asset	0		3
Derivative Liability	20		29
Reported Value Measurement [Member] | North America Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	12,874		12,479
Reported Value Measurement [Member] | North America Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	7,858		4,000
Reported Value Measurement [Member] | International Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	5,394		5,113
Reported Value Measurement [Member] | International Segment [Member] | Secured Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	4,664		4,481
Reported Value Measurement [Member] | International Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	2,862		1,282
Reported Value Measurement [Member] | International Segment [Member] | Unsecured Debt [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	$ 122		$ 1,691

[1] ash and cash equivalents and restricted cash bear interest at market rates; therefore, carrying value is considered to be a reasonable estimate of fair value.

[2] The fair value of the consumer finance receivables in the North America Segment is estimated based upon forecasted cash flows on the receivables discounted using a pre-tax weighted average cost of capital. The fair value of the consumer finance receivables in the International Segment is estimated based on forecasted cash flows on the receivables discounted using current origination rates for similar type loans. Commercial finance receivables generally have variable interest rates and maturities of one year or less. Therefore, the carrying value is considered to be a reasonable estimate of fair value.

[3] The fair values of the interest rate swap agreements are estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

[4] The fair values of the interest rate cap agreements and foreign currency swap agreements are based on quoted market prices.

[5] Secured debt in the North America Segment is comprised of revolving credit facilities, publicly-issued secured debt, and privately-issued secured debt. For revolving credit facilities with variable rates of interest and terms of one year or less, carrying value is considered to be a reasonable estimate of fair value. The fair value of the publicly and privately issued secured term debt is based on quoted market prices, when available. If quoted market prices are not available, the market value is estimated using quoted market prices of similar securities.

[6] The fair value of unsecured debt in the North America Segment is based on quoted market prices in thinly-traded markets.

[7] The level 2 secured debt in the International Segment has terms of one year or less, or has been priced within the last six months; therefore, par value is considered to be a reasonable estimate of fair value.

[8] The fair value of level 3 secured debt and unsecured debt in the International Segment is estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

[9] The level 2 unsecured debt in the International Segment has terms of one year or less; therefore, par value is considered to be a reasonable estimate of fair value.

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Finance Receivables Commercial Finance Receivables (Details) (Commercial Finance Receivables, USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			$ 6,700	$ 560
Business Combination, Acquired Receivables, Fair Value	0	3,990	0	3,990
Proceeds from Collection of Finance Receivables			695	568
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Foreign Currency Translation - Finance Receivables			(244)	128
Financing Receivable, Gross	7,151	5,246	7,151	5,246
North America Segment [Member]
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			1,975	560
Business Combination, Acquired Receivables, Fair Value	0	0	0	0
Proceeds from Collection of Finance Receivables			551	797
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Foreign Currency Translation - Finance Receivables			(13)	0
Financing Receivable, Gross	2,513	1,357	2,513	1,357
International Segment [Member]
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			4,725	0
Business Combination, Acquired Receivables, Fair Value	0	3,990	0	3,990
Proceeds from Collection of Finance Receivables			144	(229)
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Foreign Currency Translation - Finance Receivables			(231)	128
Financing Receivable, Gross	$ 4,638	$ 3,889	$ 4,638	$ 3,889

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Fair Value Of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Of Financial Instruments [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

Estimated fair values, carrying values and various methods and assumptions used in valuing our financial instruments are set forth below (in millions):

			September 30, 2014				December 31, 2013
		Level	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets:
Cash and cash equivalents	(a)	1	$	1,517	$	1,517	$	1,074	$	1,074
Finance receivables, net	(b)	3	$	31,722	$	32,064	$	29,282	$	29,301
Restricted cash	(a)	1	$	2,060	$	2,060	$	1,958	$	1,958
Interest rate swap agreements	(c)	3	$	15	$	15	$	11	$	11
Interest rate cap agreements purchased	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	—	$	—	$	3	$	3
Financial liabilities:
Secured debt
North America	(e)	2	$	12,874	$	12,935	$	12,479	$	12,565
International	(f)	2	$	5,394	$	5,409	$	5,113	$	5,113
International	(g)	3	$	4,664	$	4,641	$	4,481	$	4,492
Unsecured debt
North America	(h)	2	$	7,858	$	8,013	$	4,000	$	4,106
International	(i)	2	$	2,862	$	2,862	$	1,282	$	1,282
International	(g)	3	$	122	$	127	$	1,691	$	1,690
Interest rate swap agreements	(c)	3	$	38	$	38	$	17	$	17
Interest rate cap agreements sold	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	20	$	20	$	29	$	29

_________________

(a) Cash and cash equivalents and restricted cash bear interest at market rates; therefore, carrying value is considered to be a reasonable estimate of fair value.

(b) The fair value of the consumer finance receivables in the North America Segment is estimated based upon forecasted cash flows on the receivables discounted using a pre-tax weighted average cost of capital. The fair value of the consumer finance receivables in the International Segment is estimated based on forecasted cash flows on the receivables discounted using current origination rates for similar type loans. Commercial finance receivables generally have variable interest rates and maturities of one year or less. Therefore, the carrying value is considered to be a reasonable estimate of fair value.

(c) The fair values of the interest rate swap agreements are estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(d) The fair values of the interest rate cap agreements and foreign currency swap agreements are based on quoted market prices.

(e) Secured debt in the North America Segment is comprised of revolving credit facilities, publicly-issued secured debt, and privately-issued secured debt. For revolving credit facilities with variable rates of interest and terms of one year or less, carrying value is considered to be a reasonable estimate of fair value. The fair value of the publicly and privately issued secured term debt is based on quoted market prices, when available. If quoted market prices are not available, the market value is estimated using quoted market prices of similar securities.

(f) The level 2 secured debt in the International Segment has terms of one year or less, or has been priced within the last six months; therefore, par value is considered to be a reasonable estimate of fair value.

(g) The fair value of level 3 secured debt and unsecured debt in the International Segment is estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(h) The fair value of unsecured debt in the North America Segment is based on quoted market prices in thinly-traded markets.

(i) The level 2 unsecured debt in the International Segment has terms of one year or less; therefore, par value is considered to be a reasonable estimate of fair value.

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Fair Values Of Assets And Liabilities (Tables)

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block]

Assets and liabilities itemized below were measured at fair value on a recurring basis, using either the market approach (i), the cost approach (ii) or the income approach (iii) (in millions):

		Fair Value
	Level	September 30, 2014		December 31, 2013
Assets
Money market funds(i)(a)	1	$	2,318	$	1,452
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	15		11
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	—		3
Total assets		$	2,344	$	1,473
Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	$	38	$	17
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	20		29
Total liabilities		$	69	$	53

_________________ 

(a) Excludes cash in banks of $1.3 billion and $1.6 billion at September 30, 2014 and December 31, 2013.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The tables below present a reconciliation for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):

	Three Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	17		$	(34	)	$	7		$	(20	)
Total realized and unrealized gains included in earnings	(1		)	(11		)	2			1
Purchases	—			—			—			—
Settlements	(1		)	5			(3		)	7
Foreign currency translation	—			2			2			(4		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

	Nine Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	11		$	(17	)	$	—		$	—
Total realized and unrealized gains included in earnings	5			(37		)	4			(4		)
Purchases	—			—			7			(19		)
Settlements	(1		)	14			(5		)	10
Foreign currency translation	—			2			2			(3		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

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Derivative Financial Instruments And Hedging Activities (Details) In Millions, unless otherwise specified	Sep. 30, 2014 Foreign Exchange Contract [Member] EUR (€)	Sep. 30, 2014 Foreign Exchange Contract [Member] GBP (£)	Sep. 30, 2014 Foreign Exchange Contract [Member] SEK	Sep. 30, 2014 Currency Swap [Member] USD ($)	Sep. 30, 2014 Currency Swap [Member] GBP (£)	Sep. 30, 2014 Other Assets [Member] USD ($)		Dec. 31, 2013 Other Assets [Member] USD ($)		Sep. 30, 2014 Other Assets [Member] Interest Rate Swap [Member] USD ($)		Dec. 31, 2013 Other Assets [Member] Interest Rate Swap [Member] USD ($)		Sep. 30, 2014 Other Assets [Member] Interest Rate Cap [Member] USD ($)		Dec. 31, 2013 Other Assets [Member] Interest Rate Cap [Member] USD ($)		Sep. 30, 2014 Other Assets [Member] Foreign Exchange Contract [Member] USD ($)		Dec. 31, 2013 Other Assets [Member] Foreign Exchange Contract [Member] USD ($)		Sep. 30, 2014 Other Liabilities [Member] USD ($)		Dec. 31, 2013 Other Liabilities [Member] USD ($)		Sep. 30, 2014 Other Liabilities [Member] Interest Rate Swap [Member] USD ($)		Dec. 31, 2013 Other Liabilities [Member] Interest Rate Swap [Member] USD ($)		Sep. 30, 2014 Other Liabilities [Member] Interest Rate Cap [Member] USD ($)		Dec. 31, 2013 Other Liabilities [Member] Interest Rate Cap [Member] USD ($)		Sep. 30, 2014 Other Liabilities [Member] Foreign Exchange Contract [Member] USD ($)		Dec. 31, 2013 Other Liabilities [Member] Foreign Exchange Contract [Member] USD ($)
Derivatives, Fair Value [Line Items]
Derivative Asset, Notional Amount						$ 7,631	[1]	$ 5,498	[1]	$ 3,370		$ 2,422		$ 2,583		$ 1,398		$ 1,678	[2]	$ 1,678	[2]
Derivative Asset						26	[1],[3]	21	[1],[3]	15	[3]	11	[3]	11	[3]	7	[3]	0	[2],[3]	3	[2],[3]
Derivative Liability, Notional Amount																						9,097	[4]	7,605	[4]	4,618		4,266		2,252		1,206		2,227	[2]	2,133	[2]
Derivative Liability																						69	[3],[4]	53	[3],[4]	38	[3]	17	[3]	11	[3]	7	[3]	20	[2],[3]	29	[2],[3]
Derivative, Notional Amount	€ 670	£ 500	148	$ 550	£ 350

[1] Included in other assets on the condensed consolidated balance sheets.

[2] The foreign currency swaps relate to (i) intercompany loans denominated in foreign currencies (notional balances on the intercompany loans of €670 million, £500 million and 148kr million have been translated to USD) and (ii) a $550 million cross-currency swap for a securitization in the International Segment

[3] See Note 8 - " Fair Values of Assets and Liabilities " for further discussion of fair value disclosure related to the derivatives.

[4] Included in other liabilities on the condensed consolidated balance sheets.

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Finance Receivables Activity in Allowance for Commercial Loan Losses (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Provision for Loan, Lease, and Other Losses	$ 160	$ 117	$ 408	$ 311
Commercial Finance Receivables
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Allowance for Credit Losses	40	24	51	6
Provision for Loan, Lease, and Other Losses	(2)	1	(13)	18
Financing Receivable, Allowance for Credit Losses, Recovery	0	4	0	5
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Financing Receivable, Allowance for Credit Losses	37	29	37	29
Financing Receivable Allowance for Credit Losses Foreign Currency Translation	(1)		(1)
North America Segment [Member] | Commercial Finance Receivables
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Allowance for Credit Losses	17	12	17	6
Provision for Loan, Lease, and Other Losses	0	1	0	7
Financing Receivable, Allowance for Credit Losses, Recovery	0	0	0	0
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Financing Receivable, Allowance for Credit Losses	17	13	17	13
International Segment [Member] | Commercial Finance Receivables
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Allowance for Credit Losses	23	12	34	0
Provision for Loan, Lease, and Other Losses	(2)	0	(13)	11
Financing Receivable, Allowance for Credit Losses, Recovery	0	4	0	5
Financing Receivable, Allowance for Credit Losses, Write-downs	0	0	0	0
Financing Receivable, Allowance for Credit Losses	20	16	20	16
Financing Receivable Allowance for Credit Losses Foreign Currency Translation	$ (1)		$ (1)

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Segments (Tables)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment [Table Text Block]

All inter-segment balances and transactions have been eliminated. Key financial data for our operating segments were as follows (in millions):

	Three Months Ended September 30, 2014
	North America		International		Corporate		Eliminations			Total
Total revenue	$	759	$	502	$	14	$	(14	)	$	1,261
Operating expenses, including leased vehicle expenses	366		159		—		—			525
Provision for loan losses	119		41		—		—			160
Interest expense	124		244		14		(14		)	368
Income before income taxes	$	150	$	58	$	—	$	—		$	208

	Three Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	622	$	245	$	13	$	(13	)	$	867
Operating expenses, including leased vehicle expenses	246		90		—		—			336
Provision for loan losses	108		9		—		—			117
Interest expense	93		76		12		(13		)	168
Acquisition and integration expenses	—		7		—		—			7
Income before income taxes	$	175	$	63	$	1	$	—		$	239

	Nine Months Ended September 30, 2014
	North America		International		Corporate			Eliminations			Total
Total revenue	$	2,086	$	1,463	$	45		$	(45	)	$	3,549
Operating expenses, including leased vehicle expenses	950		459		—			—			1,409
Provision for loan losses	312		96		—			—			408
Interest expense	320		706		56			(45		)	1,037
Income before income taxes	$	504	$	202	$	(11	)	$	—		$	695

	Nine Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	1,750	$	493	$	28	$	(28	)	$	2,243
Operating expenses, including leased vehicle expenses	637		179		—		—			816
Provision for loan losses	283		28		—		—			311
Interest expense	266		157		19		(28		)	414
Acquisition and integration expenses	—		29		—		—			29
Income before income taxes	$	564	$	100	$	9	$	—		$	673

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Finance receivables, net	$	14,575	$	17,147	$	31,722	$	12,878	$	16,404	$	29,282
Total assets	$	24,032	$	19,541	$	43,573	$	19,094	$	18,896	$	37,990

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Disclosure of AOCI (Tables)

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]

A summary of changes in accumulated other comprehensive income (loss) is as follows (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Defined benefit plans, net:
Balance at beginning of period	$	3		$	—		$	3		$	—
Unrealized gain on subsidiary pension	—			—			—			—
Balance at end of period	3			—			3			—
Foreign currency translation adjustment:
Balance at beginning of period	62			(68		)	8			(3		)
Translation (loss) gain	(272		)	95			(218		)	30
Balance at end of period	(210		)	27			(210		)	27
Total accumulated other comprehensive (loss) income	$	(207	)	$	27		$	(207	)	$	27

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Restricted Cash (Notes)

9 Months Ended

Sep. 30, 2014

Cash and Cash Equivalents [Abstract]

Restricted Assets Disclosure [Text Block]

Restricted Cash

The following table summarizes the components of restricted cash (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Securitization notes payable	$	1,046	$	357	$	1,403	$	890	$	208	$	1,098
Revolving credit facilities	26		267		293		62		415		477
Other	34		330		364		26		357		383
Total restricted cash	$	1,106	$	954	$	2,060	$	978	$	980	$	1,958

Restricted cash for securitization notes payable and revolving credit facilities is comprised of funds deposited as collateral required in restricted cash accounts to support securitization transactions or funds deposited in restricted cash accounts to provide additional collateral for borrowings under revolving credit facilities. Additionally, these funds include monthly collections from borrowers that have not yet been used for repayment of debt.

Other restricted cash is primarily comprised of deposits in Brazil held in escrow pending resolution of tax and civil litigation.

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Guarantor Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2014

Guarantor Consolidating Financial Statements [abstract]

Condensed Balance Sheet [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	809		$	708		$	—		$	1,517
Finance receivables, net	—			1,901			29,821			—			31,722
Restricted cash	—			19			2,041			—			2,060
Property and equipment, net	—			8			157			—			165
Leased vehicles, net	—			—			5,796			—			5,796
Deferred income taxes	22			—			518			(183		)	357
Goodwill	1,095			—			150			—			1,245
Related party receivables	—			18			177			—			195
Other assets	97			45			374			—			516
Due from affiliates	6,510			—			—			(6,510		)	—
Investment in affiliates	7,373			3,397			—			(10,770		)	—
Total assets	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,932		$	—		$	22,932
Unsecured debt	7,500			—			3,342			—			10,842
Accounts payable and accrued expenses	86			141			763			—			990
Deferred income	—			—			317			—			317
Deferred income taxes	—			200			4			(183		)	21
Taxes payable	76			—			163			—			239
Related party taxes payable	877			—			1			(1		)	877
Related party payables	—			—			603			—			603
Other liabilities	—			22			172			—			194
Due to affiliates	—			1,760			4,749			(6,509		)	—
Total liabilities	8,539			2,123			33,046			(6,693		)	37,015
Shareholder's equity:
Common stock	—			—			698			(698		)	—
Additional paid-in capital	4,798			79			3,111			(3,190		)	4,798
Accumulated other comprehensive (loss) income	(207		)	(38		)	(192		)	230			(207		)
Retained earnings	1,967			4,033			3,079			(7,112		)	1,967
Total shareholder's equity	6,558			4,074			6,696			(10,770		)	6,558
Total liabilities and shareholder's equity	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	395		$	679		$	—		$	1,074
Finance receivables, net	—			612			28,670			—			29,282
Restricted cash	—			20			1,938			—			1,958
Property and equipment, net	—			5			127			—			132
Leased vehicles, net	—			—			3,383			—			3,383
Deferred income taxes	1			—			358			—			359
Goodwill	1,095			—			145			—			1,240
Related party receivables	29			—			100			—			129
Other assets	74			5			358			(4		)	433
Due from affiliates	3,754			863			—			(4,617		)	—
Investment in affiliates	6,994			3,565			—			(10,559		)	—
Total assets	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,073		$	—		$	22,073
Unsecured debt	4,000			—			2,973			—			6,973
Accounts payable and accrued expenses	101			133			716			(4		)	946
Deferred income	—			—			168			—			168
Deferred income taxes	(28		)	161			(46		)	—			87
Taxes payable	83			—			204			—			287
Related party taxes payable	643			—			1			(1		)	643
Related party payables	—			—			368			—			368
Other liabilities	—			14			146			—			160
Due to affiliates	863			1,474			2,280			(4,617		)	—
Total liabilities	5,662			1,782			28,883			(4,622		)	31,705
Shareholder's equity:
Common stock	—			—			532			(532		)	—
Additional paid-in capital	4,785			79			3,833			(3,912		)	4,785
Accumulated other comprehensive income (loss)	11			(8		)	24			(16		)	11
Retained earnings	1,489			3,612			2,486			(6,098		)	1,489
Total shareholder's equity	6,285			3,683			6,875			(10,558		)	6,285
Total liabilities and shareholder's equity	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990

Condensed Income Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	48		$	835		$	—		$	883
Leased vehicle income	—			—			297			—			297
Other income	18			115			46			(98		)	81
Equity in income of affiliates	242			139			—			(381		)	—
	260			302			1,178			(479		)	1,261
Costs and expenses
Salaries and benefits	—			64			94			—			158
Other operating expenses	117			(75		)	160			(63		)	139
Total operating expenses	117			(11		)	254			(63		)	297
Leased vehicle expenses	—			—			228			—			228
Provision for loan losses	—			97			63			—			160
Interest expense	56			8			339			(35		)	368
	173			94			884			(98		)	1,053
Income before income taxes	87			208			294			(381		)	208
Income tax (benefit) provision	(71		)	27			94			—			50
Net income	$	158		$	181		$	200		$	(381	)	$	158
Comprehensive (loss) income	$	(114	)	$	148		$	(71	)	$	(77	)	$	(114	)

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	37		$	610	$	—		$	647
Leased vehicle income	—			—			172		—			172
Other income	42			85			100		(179		)	48
Equity in income of affiliates	113			123			—		(236		)	—
	155			245			882		(415		)	867
Costs and expenses
Salaries and benefits	—			56			67		—			123
Other operating expenses	(74		)	42			112		—			80
Total operating expenses	(74		)	98			179		—			203
Leased vehicle expenses	—			—			133		—			133
Provision for loan losses	—			53			64		—			117
Interest expense	57			54			236		(179		)	168
Acquisition and integration expenses	—			—			7		—			7
	(17		)	205			619		(179		)	628
Income before income taxes	172			40			263		(236		)	239
Income tax provision (benefit)	11			(25		)	92		—			78
Net income	$	161		$	65		$	171	$	(236	)	$	161
Comprehensive income	$	256		$	79		$	266	$	(345	)	$	256

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	117		$	2,478	$	—		$	2,595
Leased vehicle income	—			—			735		—			735
Other income	58			346			126		(311		)	219
Equity in income of affiliates	601			408			—		(1,009		)	—
	659			871			3,339		(1,320		)	3,549
Costs and expenses
Salaries and benefits	—			180			268		—			448
Other operating expenses	112			(1		)	474		(187		)	398
Total operating expenses	112			179			742		(187		)	846
Leased vehicle expenses	—			—			563		—			563
Provision for loan losses	—			232			176		—			408
Interest expense	155			27			979		(124		)	1,037
	267			438			2,460		(311		)	2,854
Income before income taxes	392			433			879		(1,009		)	695
Income tax (benefit) provision	(86		)	11			292		—			217
Net income	$	478		$	422		$	587	$	(1,009	)	$	478
Comprehensive income	$	260		$	392		$	371	$	(763	)	$	260

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	106		$	1,603	$	—		$	1,709
Leased vehicle income	—			—			415		—			415
Other income	91			209			228		(409		)	119
Equity in income of affiliates	413			427			—		(840		)	—
	504			742			2,246		(1,249		)	2,243
Costs and expenses
Salaries and benefits	—			158			155		—			313
Other operating expenses	(76		)	(7		)	272		—			189
Total operating expenses	(76		)	151			427		—			502
Leased vehicle expenses	—			—			314		—			314
Provision for loan losses	—			180			131		—			311
Interest expense	128			143			552		(409		)	414
Acquisition and integration expenses	—			—			29		—			29
	52			474			1,453		(409		)	1,570
Income before income taxes	452			268			793		(840		)	673
Income tax provision (benefit)	7			(52		)	273		—			228
Net income	$	445		$	320		$	520	$	(840	)	$	445
Comprehensive income	$	475		$	341		$	553	$	(894	)	$	475

Condensed Cash Flow Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	255		$	233		$	912		$	—		$	1,400
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(4,872		)	(9,297		)	3,319			(10,850		)
Principal collections and recoveries on consumer finance receivables	—			(109		)	8,233			—			8,124
Proceeds from sale of consumer finance receivables, net	—			3,319			—			(3,319		)	—
Net collections (funding) of commercial finance receivables	—			160			(568		)	—			(408		)
Purchases of leased vehicles, net	—			—			(3,227		)	—			(3,227		)
Proceeds from termination of leased vehicles	—			—			395			—			395
Acquisition of international operations, net of cash acquired	(46		)	—			—			—			(46		)
Purchases of property and equipment	—			(4		)	(33		)	—			(37		)
Change in restricted cash	—			1			(188		)	—			(187		)
Change in other assets	—			—			(2		)	—			(2		)
Net change in investment in affiliates	—			546			—			(546		)	—
Net cash used in investing activities	(46		)	(959		)	(4,687		)	(546		)	(6,238		)
Cash flows from financing activities:
Net decrease in debt (original maturities less than three months)	—			—			(913		)	—			(913		)
Borrowings and issuance of secured debt	—			—			15,847			—			15,847
Payments on secured debt	—			—			(13,568		)	—			(13,568		)
Borrowings and issuance of unsecured debt	3,500			—			1,903			—			5,403
Payments on unsecured debt	—			—			(1,339		)	—			(1,339		)
Net capital contributions	26			—			(572		)	546			—
Debt issuance costs	(39		)	—			(68		)				(107		)
Net change in due from/due to affiliates	(3,696		)	1,140			2,556			—			—
Net cash (used in) provided by financing activities	(209		)	1,140			3,846			546			5,323
Net increase in cash and cash equivalents	—			414			71			—			485
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(42		)				(42		)
Cash and cash equivalents at beginning of period	—			395			679			—			1,074
Cash and cash equivalents at end of period	$	—		$	809		$	708		$	—		$	1,517

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	106		$	286		$	862		$	—		$	1,254
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(3,971		)	(6,546		)	4,207			(6,310		)
Principal collections and recoveries on consumer finance receivables	—			—			5,099			—			5,099
Proceeds from sale of consumer finance receivables, net	—			4,207			—			(4,207		)	—
Net funding of commercial finance receivables	—			(2,326		)	(886		)	2,593			(619		)
Proceeds from sale of commercial finance receivables, net	—			2,593			—			(2,593		)	—
Purchases of leased vehicles, net	—			—			(1,746		)	—			(1,746		)
Proceeds from termination of leased vehicles	—			—			142			—			142
Acquisition of international operations, net of cash acquired	(2,547		)	(863		)	440			863			(2,107		)
Purchases of property and equipment	—			(1		)	(9		)	—			(10		)
Change in restricted cash	—			—			(74		)	—			(74		)
Change in other assets	—			(44		)	22			—			(22		)
Net change in investment in affiliates	(29		)	(350		)	—			379			—
Net cash used in investing activities	(2,576		)	(755		)	(3,558		)	1,242			(5,647		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			11,676			—			11,676
Payments on secured debt	—			—			(9,009		)	—			(9,009		)
Borrowings and issuance of unsecured debt	2,500			—			1,698			—			4,198
Payments on unsecured debt	—			—			(1,817		)	—			(1,817		)
Borrowings on related party line of credit	1,100			—			—			—			1,100
Payments on related party line of credit	(1,100		)	—			—			—			(1,100		)
Repayment of debt to Ally Financial	—			—			(1,416		)	—			(1,416		)
Net capital contributions	1,300			—			382			(382		)	1,300
Debt issuance costs	(29		)	—			(40		)	—			(69		)
Net change in due from/due to affiliates	(1,301		)	467			1,697			(863		)	—
Net cash provided by financing activities	2,470			467			3,171			(1,245		)	4,863
Net increase (decrease) in cash and cash equivalents	—			(2		)	475			(3		)	470
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(6		)	3			(3		)
Cash and cash equivalents at beginning of period	—			1,252			37			—			1,289
Cash and cash equivalents at end of period	$	—		$	1,250		$	506		$	—		$	1,756

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Finance Receivables Credit Quality (Details) (Consumer Finance Receivables, North America Segment [Member], USD $) In Millions, unless otherwise specified	Sep. 30, 2014 Rate		Dec. 31, 2013 Rate
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables Net of Fees	$ 12,674	[1]	$ 11,493	[1]
Finance Receivables Credit Indicator, Percentage	100.00%	[1]	100.00%	[1]
FICO Scores Less Than 540 [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables Net of Fees	3,802		3,511
Finance Receivables Credit Indicator, Percentage	30.00%		30.60%
FICO score 540 to 599 [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables Net of Fees	5,934		5,435
Finance Receivables Credit Indicator, Percentage	46.80%		47.30%
FICO score 600 to 659 [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables Net of Fees	2,511		2,277
Finance Receivables Credit Indicator, Percentage	19.80%		19.80%
FICO score 660 and greater [Member]
Financing Receivable, Recorded Investment [Line Items]
Finance Receivables Net of Fees	$ 427		$ 270
Finance Receivables Credit Indicator, Percentage	3.40%		2.30%

[1] (a)Balance at the end of the period is the sum of pre-acquisition consumer finance receivables-outstanding balance and post-acquisition consumer finance receivables, net of fees for North America Segment.

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Variable Interest Entities Narrative (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Variable Interest Entity [Line Items]
Assets	$ 43,573,000,000		$ 43,573,000,000		$ 37,990,000,000
Liabilities	37,015,000,000		37,015,000,000		31,705,000,000
Revenues	1,261,000,000	867,000,000	3,549,000,000	2,243,000,000
Net income	158,000,000	161,000,000	478,000,000	445,000,000
Transfers of Finance Receivables	2,700,000,000		2,700,000,000		2,800,000,000
Transfers of Finance Receivables Outstanding Balance	2,600,000,000		2,600,000,000		2,700,000,000
GERMANY | Subsidiaries [Member]
Variable Interest Entity [Line Items]
Assets	4,700,000,000		4,700,000,000		3,900,000,000
Liabilities	3,900,000,000		3,900,000,000		3,000,000,000
Revenues	30,000,000		148,000,000
Net income	$ 8,000,000		$ 29,000,000

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Assets
Cash and cash equivalents	$ 1,517	$ 1,074	$ 1,756	$ 1,289
Finance receivables, net	31,722	29,282
Restricted cash	2,060	1,958
Property and equipment, net	165	132
Leased vehicles, net	5,796	3,383
Deferred Tax Assets, Net	357	359
Goodwill	1,245	1,240
Due from Related Parties	195	129
Other assets	516	433
Total assets	43,573	37,990
Liabilities:
Secured debt	22,932	22,073
Unsecured debt	10,842	6,973
Accounts payable and accrued expenses	990	946
Deferred income	317	168
Deferred income taxes	21	87
Taxes payable	239	287
Related party taxes payable	877	643
Related party payable	603	368
Other Liabilities	194	160
Total liabilities	37,015	31,705
Shareholder's equity:
Common stock, $1.00 par value per share, 1,000 shares authorized and 502 issued	0	0
Additional paid-in capital	4,798	4,785
Accumulated Other Comprehensive Income (Loss), Net of Tax	(207)	11	27
Retained earnings	1,967	1,489
Total stockholders' equity	6,558	6,285
Total liabilities and shareholder's equity	$ 43,573	$ 37,990

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Finance Receivables Credit Risk Profile by Dealer grouping of Commercial Finance Receivables (Details) (Commercial Finance Receivables, USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	$ 7,151	$ 6,700	$ 5,246	$ 560
Group I
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	711	598
Group II
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	1,732	1,588
Group III
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	2,606	2,174
Group IV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	1,315	1,622
Group V
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	604	488
Group VI
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	$ 183	$ 230

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Summary Of Significant Accounting Policies

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Summary Of Significant Accounting Policies

Note 1. Summary of Significant Accounting Policies

Acquisition of Ally Financial International Operations

We acquired Ally Financial Inc.'s ("Ally Financial") auto finance and financial services operations in Germany, the United Kingdom (the "U.K."), Italy, Sweden, Switzerland, Austria, Belgium, the Netherlands, Greece, Spain, Chile, Colombia and Mexico on April 1, 2013. We acquired Ally Financial's auto finance and financial services operations in France and Portugal on June 1, 2013, and we acquired Ally Financial's auto finance and financial services operations in Brazil on October 1, 2013. Additionally, we have agreed to acquire Ally Financial's non-controlling 40% equity interest in GMAC-SAIC Automotive Finance Company Limited ("GMAC-SAIC"), a joint venture, which conducts auto finance operations in China. This agreement is subject to certain regulatory and other approvals. We consider it probable that our acquisition of Ally Financial's interest in GMAC-SAIC will occur in late 2014 or as soon as practicable thereafter. The results of operations of the acquired entities since the applicable acquisition dates are included in our financial statements for the three and nine months ended September 30, 2014 and 2013.

Segment Information

We evaluate our business in two operating segments: North America ("the North America Segment") and international ("the International Segment"). The North America Segment includes our operations in the U.S. and Canada. The International Segment includes our operations in all other countries. For additional financial information regarding our business segments, see Note 12 - "Segment Reporting."

Basis of Presentation

The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries, including certain special-purpose financing entities utilized in secured financing transactions, which are considered variable interest entities ("VIEs"). All intercompany transactions and balances have been eliminated in consolidation.

The interim period consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles ("GAAP") in the United States of America. These interim period condensed consolidated financial statements should be read in conjunction with the consolidated financial statements that are included in our Annual Report on Form 10-K filed on February 6, 2014 ("Form 10-K"). Certain prior periods amounts were reclassified to conform to our current year presentation.

The condensed consolidated financial statements at September 30, 2014, and for the three and nine months ended September 30, 2014 and 2013, are unaudited and, in management’s opinion, include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for such interim periods. The results for interim periods are not necessarily indicative of results for a full year.

The preparation of financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions which affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the amount of revenue and costs and expenses during the reporting periods. Actual results could differ from those estimates and those differences may be material. These estimates include, among other things, the determination of the allowance for loan losses on finance receivables, estimated recovery value on leased vehicles, goodwill, income taxes and the expected cash flows on the pre-acquisition consumer finance receivables.

Subsequent to the issuance of our 2013 consolidated financial statements, we identified items not properly classified in the condensed consolidated statements of cash flows for the nine months ended September 30, 2013.  The adjustments to previously reported amounts within the various sections of the condensed consolidated statement of cash flows had a net effect of increasing Net cash provided by operating activities by $100 million and decreasing Net cash used in investing activities by $100 million, and were principally related to net funding of commercial finance receivables. 

Net Presentation of Cash Flows Related to Commercial Finance Receivables

Our commercial finance receivables are primarily comprised of floorplan financing to dealers.  The floorplan financing loans are repayable by the dealer within two to ten days after the dealer sells the vehicle subject to the financing. In our experience, these loans are typically repaid in less than 90 days of when the credit is extended. Furthermore, we have the unilateral ability to call the loans and receive payment within 30 days of when the credit is extended. Therefore, the presentation of the cash flows related to commercial finance receivables are reflected on the condensed consolidated statements of cash flows as "Net funding of commercial finance receivables."

We have revolving debt agreements to finance our commercial lending activities. The revolving period of these agreements ranges from 12 to 36 months; however, the terms of these financing agreements require that a borrowing base of eligible floorplan receivables, within certain concentration limits, must be maintained in sufficient amounts to support advances.  When a dealer repays a floorplan receivable to us, the amount advanced against such receivables must be repaid by us or else the equivalent amount in new receivables must be added to the borrowing base. Despite the revolving term exceeding 90 days, the actual term for repayment of advances under these agreements is when we receive repayment from the dealers, which is typically within 90 days of when the credit is extended. Therefore, for 2014, the cash flows related to these revolving debt agreements are reflected on the condensed consolidated statements of cash flows as “Net decrease in debt (original maturities less than three months).”

Related Party Transactions

We are the wholly-owned captive finance subsidiary of our parent, General Motors Company ("GM"). We offer loan and lease finance products through GM-franchised dealers to consumers purchasing new and certain used vehicles manufactured by GM and make commercial loans directly to GM-franchised dealers. Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on consumer loan and lease finance products. In addition, GM makes payments to us to cover certain interest payments on commercial loans. At September 30, 2014 and December 31, 2013, we had related party receivables from GM in the amount of $195 million and $129 million under these programs.

At September 30, 2014 and December 31, 2013 we had $116 million and $62 million in loans outstanding to dealers that are consolidated by GM, in connection with our commercial lending program. Our international operations also provide financing to certain GM subsidiaries through factoring and other wholesale financing arrangements. At September 30, 2014 and December 31, 2013, $342 million and $588 million were outstanding under such arrangements, and are included in commercial finance receivables. At September 30, 2014 and December 31, 2013, we had $603 million and $368 million of related party payables due to GM, primarily for commercial finance receivables originated but not yet funded. These payables typically settle within 30 days.

We have a tax sharing agreement with GM for our U.S. operations, and we are obligated to pay GM for our share of the consolidated U.S. federal and certain state tax liabilities for taxable income recognized by us in any period beginning on or after October 1, 2010. Payments for the tax years 2010 through 2014 are deferred for four years from their original due date, and the total deferral amount is to not exceed $1.0 billion. The tax sharing agreement may be modified at any time by GM in its sole discretion. At September 30, 2014 and December 31, 2013, we had related party taxes payable to GM in the amount of $877 million and $643 million.

In September 2014, we and GM entered into a Support Agreement (the “Support Agreement”). Pursuant to the Support Agreement, if our earning assets leverage at the end of any calendar quarter is higher than thresholds set in the Support Agreement, We may require GM to provide funding sufficient to bring our earning assets leverage to within the appropriate threshold. In determining our earning assets leverage (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt. At September 30, 2014, our earning assets leverage ratio was 7.0, which is below the current applicable ratio of 8.0.

Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding and that GM will use its commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower on $4.0 billion under GM’s corporate revolving credit facilities. GM also agreed to certain provisions intended to ensure that we maintain adequate access to liquidity. Pursuant to these provisions, GM provided us with a $1.0 billion unsecured intercompany revolving credit facility (the “Junior Subordinated Revolving Credit Facility”), which replaced an existing $600 million intercompany credit facility with GM. There were no advances outstanding under the Junior Subordinated Revolving Credit Facility at September 30, 2014.

In October 2014, GM amended its two primary unsecured revolving credit facilities increasing GM's aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility.

We have the ability to borrow up to $2.0 billion against each of GM's unsecured revolving credit facilities, subject to available capacity. Our borrowings under GM's facilities are limited by GM's ability to borrow the entire amount available under the facilities. Therefore, we may be able to borrow up to $4.0 billion in total or may be unable to borrow depending on GM's borrowing activity. If we do borrow under these facilities, we expect such borrowings would be short-term in nature and, except in extraordinary circumstances, would not be used to fund our operating activities in the ordinary course of business. Neither we, nor any of our subsidiaries, guarantee any obligations under these facilities and none of our or our subsidiaries' assets secure these facilities.

Recently Adopted Accounting Principles

On January 1, 2014 we adopted Accounting Standards Update ("ASU") 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which was issued to eliminate diversity in practice. This ASU requires that companies net their unrecognized tax benefits against all same-jurisdiction net operating losses or tax credit carryforwards that would be used to settle the position with a tax authority. The adoption of this ASU did not have a material effect on our consolidated financial statements.

Accounting Standards Not Yet Adopted

In May 2014 the Financial Accounting Standards Board issued ASU 2014-09, “Revenue Recognition - Revenue from Contracts with Customers” ("ASU 2014-09") that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. This update is effective for annual reporting periods beginning on or after December 15, 2016 and interim periods therein and requires expanded disclosures. We are currently assessing the impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements.

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Fair Values Of Assets And Liabilities Level 3 Rollforward (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Fair Value Disclosures [Abstract]
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	$ 17	$ 7	$ 11	$ 0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(1)	2	5	4
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Purchases	0	0	0	7
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Settlements	(1)	(3)	(1)	(5)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Value	15	8	15	8
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	(34)	(20)	(17)	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Gain (Loss) Included in Earnings	(11)	1	(37)	(4)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Purchases	0	0	0	(19)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Liability, Settlements	5	7	14	10
Fair Value, Measurement with Unobservable Inputs Reconciliations, Recurring Basis, Liability Value	$ (38)	$ (16)	$ (38)	$ (16)

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Finance Receivables Finance Receivables, net (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 31,722,000,000	$ 29,282,000,000
North America Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	14,575,000,000	12,878,000,000
International Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	17,147,000,000	16,404,000,000
Consumer Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	25,216,000,000	23,130,000,000
Financing Receivable, Collectively Evaluated for Impairment	23,495,000,000	21,189,000,000
Financing Receivable, Individually Evaluated for Impairment	1,123,000,000	767,000,000
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(468,000,000)	(394,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	(140,000,000)	(103,000,000)
Notes, Loans and Financing Receivable, Net	24,608,000,000	22,633,000,000
Consumer Finance Receivables | North America Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	12,615,000,000	11,388,000,000
Financing Receivable, Collectively Evaluated for Impairment	11,091,000,000	9,795,000,000
Financing Receivable, Modifications, Recorded Investment	1,123,000,000	767,000,000
Financing Receivable, Individually Evaluated for Impairment		767,000,000
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(396,000,000)	(365,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment		(103,000,000)
Notes, Loans and Financing Receivable, Net	12,079,000,000	10,920,000,000
Loans and Leases Receivable, Gross, Consumer, Lease Financing	1,000,000,000
Consumer Finance Receivables | International Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	12,601,000,000	11,742,000,000
Financing Receivable, Collectively Evaluated for Impairment	12,404,000,000	11,394,000,000
Financing Receivable, Individually Evaluated for Impairment	0	0
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(72,000,000)	(29,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	0	0
Notes, Loans and Financing Receivable, Net	12,529,000,000	11,713,000,000
Commercial Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	7,151,000,000	6,700,000,000	5,246,000,000	560,000,000
Financing Receivable, Collectively Evaluated for Impairment	7,072,000,000	6,602,000,000
Financing Receivable, Individually Evaluated for Impairment	79,000,000	98,000,000
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(32,000,000)	(44,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	(5,000,000)	(7,000,000)
Notes, Loans and Financing Receivable, Net	7,114,000,000	6,649,000,000
Commercial Finance Receivables | North America Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	2,513,000,000	1,975,000,000	1,357,000,000	560,000,000
Financing Receivable, Collectively Evaluated for Impairment	2,513,000,000	1,975,000,000
Financing Receivable, Individually Evaluated for Impairment	0	0
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(17,000,000)	(17,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	0	0
Notes, Loans and Financing Receivable, Net	2,496,000,000	1,958,000,000
Commercial Finance Receivables | International Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	4,638,000,000	4,725,000,000	3,889,000,000	0
Financing Receivable, Collectively Evaluated for Impairment	4,559,000,000	4,627,000,000
Financing Receivable, Individually Evaluated for Impairment	79,000,000	98,000,000
Financing Receivable, Allowance for Credit Losses, Collectively Evaluated for Impairment	(15,000,000)	(27,000,000)
Financing Receivable, Allowance for Credit Losses, Individually Evaluated for Impairment	(5,000,000)	(7,000,000)
Notes, Loans and Financing Receivable, Net	4,618,000,000	4,691,000,000
Pre-Acquisition Portfolio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes Receivable Carrying Amount	197,000,000	348,000,000
Pre-Acquisition Portfolio | Consumer Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	660,000,000	1,294,000,000
Notes Receivable Carrying Amount	598,000,000	1,174,000,000
Pre-Acquisition Portfolio | Consumer Finance Receivables | North America Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	460,000,000	931,000,000
Notes Receivable Carrying Amount	401,000,000	826,000,000
Pre-Acquisition Portfolio | Consumer Finance Receivables | International Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Gross	$ 200,000,000	$ 363,000,000

XML

Segments Operations Reporting by Assets (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Finance receivables, net	$ 31,722	$ 29,282
Assets	43,573	37,990
North America Segment [Member]
Segment Reporting Information [Line Items]
Finance receivables, net	14,575	12,878
Assets	24,032	19,094
International Segment [Member]
Segment Reporting Information [Line Items]
Finance receivables, net	17,147	16,404
Assets	$ 19,541	$ 18,896

XML

Finance Receivables (Tables)

9 Months Ended

Sep. 30, 2014

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Finance receivables, net [Table Text Block]

The finance receivables portfolio consists of the following (in millions): 

	September 30, 2014									December 31, 2013
	North America			International			Total			North America			International			Total
Consumer
Pre-acquisition consumer finance receivables - outstanding balance	$	460		$	200		$	660		$	931		$	363		$	1,294
Pre-acquisition consumer finance receivables - carrying value	$	401		$	197		$	598		$	826		$	348		$	1,174
Post-acquisition consumer finance receivables, collectively evaluated for impairment, net of fees(a)	11,091			12,404			23,495			9,795			11,394			21,189
Post-acquisition consumer finance receivables, individually evaluated for impairment, net of fees	1,123			—			1,123			767			—			767
	12,615			12,601			25,216			11,388			11,742			23,130
Less: allowance for loan losses - collective	(396		)	(72		)	(468		)	(365		)	(29		)	(394		)
Less: allowance for loan losses - specific	(140		)	—			(140		)	(103		)	—			(103		)
Total consumer finance receivables, net	12,079			12,529			24,608			10,920			11,713			22,633
Commercial
Commercial finance receivables, collectively evaluated for impairment, net of fees	2,513			4,559			7,072			1,975			4,627			6,602
Commercial finance receivables, individually evaluated for impairment, net of fees	—			79			79			—			98			98
	2,513			4,638			7,151			1,975			4,725			6,700
Less: allowance for loan losses - collective	(17		)	(15		)	(32		)	(17		)	(27		)	(44		)
Less: allowance for loan losses - specific	—			(5		)	(5		)	—			(7		)	(7		)
Total commercial finance receivables, net	2,496			4,618			7,114			1,958			4,691			6,649
Total finance receivables, net	$	14,575		$	17,147		$	31,722		$	12,878		$	16,404		$	29,282

________________

(a) Amounts reported for International include $1.0 billion of direct-financing leases at September 30, 2014 and December 31, 2013

Finance Receivables Summary [Table Text Block]

Following is a summary of activity in our pre-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Pre-acquisition consumer finance receivables - outstanding balance, beginning of period	$	931		$	363		$	1,294		$	2,162		$	—		$	2,162
Pre-acquisition consumer finance receivables - carrying value, beginning of period	$	826		$	348		$	1,174		$	1,958		$	—		$	1,958
International operations acquisition	—			—			—			—			601			601
Principal collections and other	(418		)	(171		)	(589		)	(885		)	(192		)	(1,077		)
Change in carrying value adjustment	(7		)	36			29			(45		)	8			(37		)
Foreign currency translation	—			(16		)	(16		)	—			7			7
Balance at end of period	$	401		$	197		$	598		$	1,028		$	424		$	1,452

Accretable Yield [Table Text Block]

A summary of the activity in the accretable yield on the pre-acquisition consumer finance receivables portfolios is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	133		$	44		$	177		$	298		$	96		$	394
International operations acquisition	—			—			—			—			—			—
Accretion of accretable yield	(32		)	(11		)	(43		)	(65		)	(20		)	(85		)
Transfer from non-accretable difference	—			7			7			—			19			19
Foreign currency translation	—			(3		)	(3		)	—			1			1
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	181		$	74		$	255		$	404		$	—		$	404
International operations acquisition	—			—			—			—			127			127
Accretion of accretable yield	(113		)	(41		)	(154		)	(225		)	(44		)	(269		)
Transfer from non-accretable difference	33			7			40			54			19			73
Foreign currency translation	—			(3		)	(3		)	—			(6		)	(6		)
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

Finance Receivables Summary - Post Acquisition Receivables [Table Text Block]

Following is a summary of activity in our post-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Post-acquisition consumer finance receivables, net of fees - beginning of period	$	10,562		$	11,394		$	21,956		$	8,831		$	—		$	8,831
International operations acquisition	—			—			—			—			6,378			6,378
Loans purchased	4,874			6,255			11,129			3,980			2,350			6,330
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Principal collections and other	(2,677		)	(4,487		)	(7,164		)	(2,097		)	(1,579		)	(3,676		)
Foreign currency translation	(2		)	(656		)	(658		)	—			221			221
Balance at end of period	$	12,214		$	12,404		$	24,618		$	10,313		$	7,352		$	17,665

Allowance for Credit Losses on Financing Receivables [Table Text Block]

A summary of the activity in the allowance for consumer loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	515		$	60		$	575		$	415		$	8		$	423
Provision for loan losses	119			43			162			107			9			116
Charge-offs	(194		)	(36		)	(230		)	(153		)	(18		)	(171		)
Recoveries	96			10			106			84			15			99
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	468		$	29		$	497		$	345		$	—		$	345
Provision for loan losses	312			109			421			276			17			293
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Recoveries	299			41			340			233			15			248
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

Financing Receivable Credit Quality Indicators [Table Text Block]

A summary of the credit risk profile by FICO score band, determined at origination, of the consumer finance receivables in the North America Segment is as follows (dollars in millions):

	September 30, 2014				December 31, 2013
	Amount		Percent		Amount		Percent
FICO Score less than 540	$	3,802	30.0	%	$	3,511	30.6	%
FICO Score 540 to 599	5,934		46.8		5,435		47.3
FICO Score 600 to 659	2,511		19.8		2,277		19.8
FICO Score 660 and greater	427		3.4		270		2.3
Balance at end of period(a)	$	12,674	100.0	%	$	11,493	100.0	%

_________________ 

(a) Balance at the end of the period is the sum of pre-acquisition consumer finance receivables-outstanding balance and post-acquisition consumer finance receivables, net of fees for North America Segment.

Past Due Financing Receivables [Table Text Block]

The following is a summary of the contractual amounts of consumer finance receivables, which is not significantly different than recorded investment, that are (i) more than 30 days delinquent, but not yet in repossession, and (ii) in repossession, but not yet charged off (dollars in millions):

	September 30,
	2014								2013
	North America		International		Total		Percent of Contractual Amount Due		North America		International		Total		Percent of Contractual Amount Due
31 - 60 days	$	865	$	114	$	979	3.9	%	$	690	$	49	$	739	3.8	%
Greater than 60 days	305		120		425		1.7		247		44		291		1.5
	1,170		234		1,404		5.6		937		93		1,030		5.3
In repossession	44		5		49		0.2		41		4		45		0.3
	$	1,214	$	239	$	1,453	5.8	%	$	978	$	97	$	1,075	5.6	%

Troubled Debt Restructurings on Financing Receivables [Table Text Block]

The outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance is presented below (in millions):

	September 30, 2014			December 31, 2013
Outstanding recorded investment	$	1,123		$	767
Less: allowance for loan losses	(140		)	(103		)
Outstanding recorded investment, net of allowance	$	983		$	664
Unpaid principal balance	$	1,142		$	779

Finance charge income from loans classified as TDRs is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy methodology applied to loans that are not classified as TDRs. Additional information about loans classified as TDRs is presented below (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Average recorded investment	$	1,057	$	552	$	937	$	417
Finance charge income recognized	$	124	$	20	$	183	$	45

The following table provides information on consumer loans at the time they became classified as TDRs (dollars in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount
Recorded investment	13,543	$	232	11,364	$	204	35,748	$	598	27,302	$	478

Finance Receivables Summary - Post-acquisition - Commercial [Table Text Block]

Following is a summary of activity in our commercial finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America		International			Total
Commercial finance receivables, net of fees - beginning of period	$	1,975		$	4,725		$	6,700		$	560	$	—		$	560
International operations acquisition	—			—			—			—		3,990			3,990
Net funding (collections) of commercial finance receivables	551			144			695			797		(229		)	568
Charge-offs	—			—			—			—		—			—
Foreign currency translation	(13		)	(231		)	(244		)	—		128			128
Balance at end of period	$	2,513		$	4,638		$	7,151		$	1,357	$	3,889		$	5,246

Allowance for Loan Losses - Commercial Loans [Table Text Block]

A summary of the activity in the allowance for commercial loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	23		$	40		$	12	$	12	$	24
Provision for loan losses	—		(2		)	(2		)	1		—		1
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		4		4
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

	Nine Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	34		$	51		$	6	$	—	$	6
Provision for loan losses	—		(13		)	(13		)	7		11		18
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		5		5
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

Financing Receivable Credit Quality Indicators for Commercial Lending [Table Text Block]

A summary of the credit risk profile by dealer grouping of the commercial finance receivables is as follows (in millions):

			September 30, 2014		December 31, 2013
Group I	-	Dealers with superior financial metrics	$	711	$	598
Group II	-	Dealers with strong financial metrics	1,732		1,588
Group III -	-	Dealers with fair financial metrics	2,606		2,174
Group IV -	-	Dealers with weak financial metrics	1,315		1,622
Group V	-	Dealers warranting special mention due to potential weaknesses	604		488
Group VI -	-	Dealers with loans classified as substandard, doubtful or impaired	183		230
Balance at end of period			$	7,151	$	6,700

XML

Finance Receivables Finance Receivables Summary (Details) (Consumer Loan [Member], Pre-Acquisition Portfolio, USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013	Dec. 31, 2012
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			$ 1,294	$ 2,162
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	1,174	1,958
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value		601
Proceeds from Collection of Finance Receivables	(589)	(1,077)
Change in Carrying Value Adjustment	29	(37)
Foreign Currency Translation - Finance Receivables	(16)	7
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	598	1,452
North America Segment [Member]
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			931	2,162
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	826	1,958
Proceeds from Collection of Finance Receivables	(418)	(885)
Change in Carrying Value Adjustment	(7)	(45)
Foreign Currency Translation - Finance Receivables	0	0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	401	1,028
International Segment [Member]
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross			363	0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	348	0
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Acquired During Period, at Acquisition, at Fair Value		601
Proceeds from Collection of Finance Receivables	(171)	(192)
Change in Carrying Value Adjustment	36	8
Foreign Currency Translation - Finance Receivables	(16)	7
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net	$ 197	$ 424

XML

Leased Vehicles (Tables)

9 Months Ended

Sep. 30, 2014

Property Subject to or Available for Operating Lease, Net [Abstract]

Schedule of Future Minimum Rental Payments Receivable for Operating Leases [Table Text Block]

Following is a summary of our leased vehicles (in millions):

	September 30, 2014			December 31, 2013
Leased vehicles	$	7,972		$	4,684
Manufacturer incentives	(1,171		)	(659		)
	6,801			4,025
Less: accumulated depreciation	(1,005		)	(642		)
Leased vehicles, net	$	5,796		$	3,383

Leased Vehicles Summary [Table Text Block]

A summary of the changes in our leased vehicles is as follows (in millions):

	Nine Months Ended September 30,
	2014			2013
Balance at beginning of period	$	4,025		$	1,976
International operations acquisition	—			9
Leased vehicles purchased	4,077			2,180
Leased vehicles returned - end of term	(662		)	(192		)
Leased vehicles returned - default	(39		)	(16		)
Manufacturer incentives	(524		)	(288		)
Foreign currency translation	(76		)	(22		)
Balance at end of period	$	6,801		$	3,647

Schedule Of Future Minimum Rental Payments Receivable For Operating Leases Table Text Block [Table Text Block]

The following table summarizes minimum rental payments due to us as lessor under operating leases (in millions):

	Years Ending December 31,
	2014		2015		2016		2017		2018		2019
Minimum rental payments under operating leases	$	272	$	1,012	$	780	$	366	$	51	$	3

At September 30, 2014 and December 31, 2013, our Canadian subsidiary was servicing $146 million and $303 million of leased vehicles for a third party.

XML

Guarantor Consolidating Financial Statements Current Period Guarantor Balance Sheet (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2013	Dec. 31, 2012
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	$ 1,517,000,000	$ 1,074,000,000	$ 1,756,000,000	$ 1,289,000,000
Finance receivables, net	31,722,000,000	29,282,000,000
Restricted cash	2,060,000,000	1,958,000,000
Property and equipment, net	165,000,000	132,000,000
Leased vehicles, net	5,796,000,000	3,383,000,000
Deferred Tax Assets, Net	357,000,000	359,000,000
Goodwill	1,245,000,000	1,240,000,000
Due from Related Parties	195,000,000	129,000,000
Other assets	516,000,000	433,000,000
Due from Affiliates	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Assets	43,573,000,000	37,990,000,000
Secured debt	22,932,000,000	22,073,000,000
Unsecured debt	10,842,000,000	6,973,000,000
Accounts payable and accrued expenses	990,000,000	946,000,000
Deferred income	317,000,000	168,000,000
Deferred income taxes	21,000,000	87,000,000
Taxes payable	239,000,000	287,000,000
Related party taxes payable	877,000,000	643,000,000
Related party payable	603,000,000	368,000,000
Other Liabilities	194,000,000	160,000,000
Due to Affiliate	0	0
Liabilities	37,015,000,000	31,705,000,000
Common stock, $1.00 par value per share, 1,000 shares authorized and 502 issued	0	0
Additional Paid in Capital, Common Stock	4,798,000,000	4,785,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	(207,000,000)	11,000,000	27,000,000
Retained Earnings (Accumulated Deficit)	1,967,000,000	1,489,000,000
Total stockholders' equity	6,558,000,000	6,285,000,000
Total liabilities and shareholder's equity	43,573,000,000	37,990,000,000
Parent Company [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0	0	0
Finance receivables, net		0
Restricted cash		0
Property and equipment, net		0
Leased vehicles, net		0
Deferred Tax Assets, Net	22,000,000	1,000,000
Goodwill	1,095,000,000	1,095,000,000
Due from Related Parties	0	29,000,000
Other assets	97,000,000	74,000,000
Due from Affiliates	6,510,000,000	3,754,000,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	7,373,000,000	6,994,000,000
Assets	15,097,000,000	11,947,000,000
Unsecured debt	7,500,000,000	4,000,000,000
Accounts payable and accrued expenses	86,000,000	101,000,000
Deferred income	0
Deferred income taxes	0	(28,000,000)
Taxes payable	76,000,000	83,000,000
Related party taxes payable	877,000,000	643,000,000
Related party payable	0
Other Liabilities	0
Due to Affiliate	0	863,000,000
Liabilities	8,539,000,000	5,662,000,000
Additional Paid in Capital, Common Stock	4,798,000,000	4,785,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	(207,000,000)	11,000,000
Retained Earnings (Accumulated Deficit)	1,967,000,000	1,489,000,000
Total stockholders' equity	6,558,000,000	6,285,000,000
Total liabilities and shareholder's equity	15,097,000,000	11,947,000,000
Guarantor Subsidiaries [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	809,000,000	395,000,000	1,250,000,000	1,252,000,000
Finance receivables, net	1,901,000,000	612,000,000
Restricted cash	19,000,000	20,000,000
Property and equipment, net	8,000,000	5,000,000
Leased vehicles, net	0	0
Deferred Tax Assets, Net	0	0
Goodwill	0	0
Due from Related Parties	18,000,000	0
Other assets	45,000,000	5,000,000
Due from Affiliates	0	863,000,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	3,397,000,000	3,565,000,000
Assets	6,197,000,000	5,465,000,000
Unsecured debt	0	0
Accounts payable and accrued expenses	141,000,000	133,000,000
Deferred income taxes	200,000,000	161,000,000
Taxes payable	0	0
Related party taxes payable		0
Other Liabilities	22,000,000	14,000,000
Due to Affiliate	1,760,000,000	1,474,000,000
Liabilities	2,123,000,000	1,782,000,000
Additional Paid in Capital, Common Stock	79,000,000	79,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	(38,000,000)	(8,000,000)
Retained Earnings (Accumulated Deficit)	4,033,000,000	3,612,000,000
Total stockholders' equity	4,074,000,000	3,683,000,000
Total liabilities and shareholder's equity	6,197,000,000	5,465,000,000
Non-Guarantor Subsidiaries [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	708,000,000	679,000,000	506,000,000	37,000,000
Finance receivables, net	29,821,000,000	28,670,000,000
Restricted cash	2,041,000,000	1,938,000,000
Property and equipment, net	157,000,000	127,000,000
Leased vehicles, net	5,796,000,000	3,383,000,000
Deferred Tax Assets, Net	518,000,000	358,000,000
Goodwill	150,000,000	145,000,000
Due from Related Parties	177,000,000	100,000,000
Other assets	374,000,000	358,000,000
Due from Affiliates	0	0
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	0	0
Assets	39,742,000,000	35,758,000,000
Secured debt	22,932,000,000	22,073,000,000
Unsecured debt	3,342,000,000	2,973,000,000
Accounts payable and accrued expenses	763,000,000	716,000,000
Deferred income	317,000,000	168,000,000
Deferred income taxes	4,000,000	(46,000,000)
Taxes payable	163,000,000	204,000,000
Related party taxes payable	1,000,000	1,000,000
Related party payable	603,000,000	368,000,000
Other Liabilities	172,000,000	146,000,000
Due to Affiliate	4,749,000,000	2,280,000,000
Liabilities	33,046,000,000	28,883,000,000
Common stock, $1.00 par value per share, 1,000 shares authorized and 502 issued	698,000,000	532,000,000
Additional Paid in Capital, Common Stock	3,111,000,000	3,833,000,000
Accumulated Other Comprehensive Income (Loss), Net of Tax	(192,000,000)	24,000,000
Retained Earnings (Accumulated Deficit)	3,079,000,000	2,486,000,000
Total stockholders' equity	6,696,000,000	6,875,000,000
Total liabilities and shareholder's equity	39,742,000,000	35,758,000,000
Consolidation, Eliminations [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Cash and cash equivalents	0	0		0
Finance receivables, net		0
Restricted cash		0
Property and equipment, net		0
Leased vehicles, net		0
Deferred Tax Assets, Net	(183,000,000)
Goodwill		0
Due from Related Parties	0	0
Other assets	0	(4,000,000)
Due from Affiliates	(6,510,000,000)	(4,617,000,000)
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	(10,770,000,000)	(10,559,000,000)
Assets	(17,463,000,000)	(15,180,000,000)
Unsecured debt	0	0
Accounts payable and accrued expenses	0	(4,000,000)
Deferred income taxes	(183,000,000)
Taxes payable	0	0
Related party taxes payable	(1,000,000)	(1,000,000)
Related party payable	0
Other Liabilities	0
Due to Affiliate	(6,509,000,000)	(4,617,000,000)
Liabilities	(6,693,000,000)	(4,622,000,000)
Common stock, $1.00 par value per share, 1,000 shares authorized and 502 issued	(698,000,000)	(532,000,000)
Additional Paid in Capital, Common Stock	(3,190,000,000)	(3,912,000,000)
Accumulated Other Comprehensive Income (Loss), Net of Tax	230,000,000	(16,000,000)
Retained Earnings (Accumulated Deficit)	(7,112,000,000)	(6,098,000,000)
Total stockholders' equity	(10,770,000,000)	(10,558,000,000)
Total liabilities and shareholder's equity	$ (17,463,000,000)	$ (15,180,000,000)

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Finance Receivables

9 Months Ended

Sep. 30, 2014

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Financing Receivables [Text Block]

Finance Receivables

The finance receivables portfolio consists of the following (in millions): 

	September 30, 2014									December 31, 2013
	North America			International			Total			North America			International			Total
Consumer
Pre-acquisition consumer finance receivables - outstanding balance	$	460		$	200		$	660		$	931		$	363		$	1,294
Pre-acquisition consumer finance receivables - carrying value	$	401		$	197		$	598		$	826		$	348		$	1,174
Post-acquisition consumer finance receivables, collectively evaluated for impairment, net of fees(a)	11,091			12,404			23,495			9,795			11,394			21,189
Post-acquisition consumer finance receivables, individually evaluated for impairment, net of fees	1,123			—			1,123			767			—			767
	12,615			12,601			25,216			11,388			11,742			23,130
Less: allowance for loan losses - collective	(396		)	(72		)	(468		)	(365		)	(29		)	(394		)
Less: allowance for loan losses - specific	(140		)	—			(140		)	(103		)	—			(103		)
Total consumer finance receivables, net	12,079			12,529			24,608			10,920			11,713			22,633
Commercial
Commercial finance receivables, collectively evaluated for impairment, net of fees	2,513			4,559			7,072			1,975			4,627			6,602
Commercial finance receivables, individually evaluated for impairment, net of fees	—			79			79			—			98			98
	2,513			4,638			7,151			1,975			4,725			6,700
Less: allowance for loan losses - collective	(17		)	(15		)	(32		)	(17		)	(27		)	(44		)
Less: allowance for loan losses - specific	—			(5		)	(5		)	—			(7		)	(7		)
Total commercial finance receivables, net	2,496			4,618			7,114			1,958			4,691			6,649
Total finance receivables, net	$	14,575		$	17,147		$	31,722		$	12,878		$	16,404		$	29,282

________________

(a) Amounts reported for International include $1.0 billion of direct-financing leases at September 30, 2014 and December 31, 2013.

Consumer Finance Receivables

Our consumer finance receivables are reported in two portfolios: pre-acquisition and post-acquisition. The pre-acquisition consumer finance receivables portfolio consists of (i) finance receivables originated in North America prior to our merger with GM, all of which were considered to have had deterioration in credit quality, and (ii) finance receivables that were considered to have had deterioration in credit quality that were acquired with the international operations. The pre-acquisition consumer portfolio will decrease over time with the amortization of the acquired receivables.

The post-acquisition consumer finance receivables portfolio consists of (i) finance receivables originated in North America since our merger with GM, (ii) finance receivables originated in the international operations since the applicable acquisition dates and (iii) finance receivables that were considered to have had no deterioration in credit quality that were acquired with the international operations. The post-acquisition consumer portfolio will grow over time as we originate new receivables.

Pre-acquisition Consumer Finance Receivables

Following is a summary of activity in our pre-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Pre-acquisition consumer finance receivables - outstanding balance, beginning of period	$	931		$	363		$	1,294		$	2,162		$	—		$	2,162
Pre-acquisition consumer finance receivables - carrying value, beginning of period	$	826		$	348		$	1,174		$	1,958		$	—		$	1,958
International operations acquisition	—			—			—			—			601			601
Principal collections and other	(418		)	(171		)	(589		)	(885		)	(192		)	(1,077		)
Change in carrying value adjustment	(7		)	36			29			(45		)	8			(37		)
Foreign currency translation	—			(16		)	(16		)	—			7			7
Balance at end of period	$	401		$	197		$	598		$	1,028		$	424		$	1,452

We review our pre-acquisition portfolio for differences between contractual cash flows and the cash flows expected to be collected to determine if the difference is attributable, at least in part, to credit quality. During the nine months ended September 30, 2014 and 2013, as a result of improvements in the credit performance of the pre-acquisition portfolio, expected cash flows increased by $40 million and $73 million. We transferred the amount of excess cash flows from the non-accretable difference to accretable yield. This excess will be amortized through finance charge income over the remaining life of the portfolio. As a result of the decrease in the pre-acquisition portfolio through amortization, the amount of excess cash flows transferred to accretable yield and subsequently amortized through finance charge income has decreased.

A summary of the activity in the accretable yield on the pre-acquisition consumer finance receivables portfolios is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	133		$	44		$	177		$	298		$	96		$	394
International operations acquisition	—			—			—			—			—			—
Accretion of accretable yield	(32		)	(11		)	(43		)	(65		)	(20		)	(85		)
Transfer from non-accretable difference	—			7			7			—			19			19
Foreign currency translation	—			(3		)	(3		)	—			1			1
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	181		$	74		$	255		$	404		$	—		$	404
International operations acquisition	—			—			—			—			127			127
Accretion of accretable yield	(113		)	(41		)	(154		)	(225		)	(44		)	(269		)
Transfer from non-accretable difference	33			7			40			54			19			73
Foreign currency translation	—			(3		)	(3		)	—			(6		)	(6		)
Balance at end of period	$	101		$	37		$	138		$	233		$	96		$	329

Post-acquisition Consumer Finance Receivables

We generally purchase consumer finance contracts from auto dealers without recourse, and accordingly, the dealer has no liability to us if the consumer defaults on the contract. Depending upon the contract structure and consumer credit attributes, we may pay dealers a participation fee or we may charge dealers a non-refundable acquisition fee when purchasing individual finance contracts. We also have subvention programs with GM and other new vehicle manufacturers, under which the manufacturers provide us cash payments in order for us to offer lower interest rates on consumer finance contracts we purchase. We record the amortization of participation fees and subvention and accretion of acquisition fees to finance charge income using the effective interest method.

Following is a summary of activity in our post-acquisition consumer finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Post-acquisition consumer finance receivables, net of fees - beginning of period	$	10,562		$	11,394		$	21,956		$	8,831		$	—		$	8,831
International operations acquisition	—			—			—			—			6,378			6,378
Loans purchased	4,874			6,255			11,129			3,980			2,350			6,330
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Principal collections and other	(2,677		)	(4,487		)	(7,164		)	(2,097		)	(1,579		)	(3,676		)
Foreign currency translation	(2		)	(656		)	(658		)	—			221			221
Balance at end of period	$	12,214		$	12,404		$	24,618		$	10,313		$	7,352		$	17,665

A summary of the activity in the allowance for consumer loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	515		$	60		$	575		$	415		$	8		$	423
Provision for loan losses	119			43			162			107			9			116
Charge-offs	(194		)	(36		)	(230		)	(153		)	(18		)	(171		)
Recoveries	96			10			106			84			15			99
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America			International			Total
Balance at beginning of period	$	468		$	29		$	497		$	345		$	—		$	345
Provision for loan losses	312			109			421			276			17			293
Charge-offs	(543		)	(102		)	(645		)	(401		)	(18		)	(419		)
Recoveries	299			41			340			233			15			248
Foreign currency translation	—			(5		)	(5		)	—			—			—
Balance at end of period	$	536		$	72		$	608		$	453		$	14		$	467

Consumer Credit Quality

We use proprietary scoring systems in the underwriting process that measure the credit quality of the receivables using several factors, such as credit bureau information, consumer credit risk scores (e.g. FICO score), and contract characteristics. In addition to our proprietary scoring system, we consider other individual consumer factors, such as employment history, financial stability, and capacity to pay. At the time of loan origination, substantially all of our international consumers have the equivalent of prime credit scores. In the North America Segment, however, our consumer finance receivables are predominantly sub-prime. A summary of the credit risk profile by FICO score band, determined at origination, of the consumer finance receivables in the North America Segment is as follows (dollars in millions):

	September 30, 2014				December 31, 2013
	Amount		Percent		Amount		Percent
FICO Score less than 540	$	3,802	30.0	%	$	3,511	30.6	%
FICO Score 540 to 599	5,934		46.8		5,435		47.3
FICO Score 600 to 659	2,511		19.8		2,277		19.8
FICO Score 660 and greater	427		3.4		270		2.3
Balance at end of period(a)	$	12,674	100.0	%	$	11,493	100.0	%

_________________ 

(a) Balance at the end of the period is the sum of pre-acquisition consumer finance receivables-outstanding balance and post-acquisition consumer finance receivables, net of fees for North America Segment.

In addition we review the credit quality of all of our consumer finance receivables based on consumer payment activity. A consumer account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Consumer finance receivables are collateralized by vehicle titles and, subject to local laws, we generally have the right to repossess the vehicle in the event the consumer defaults on the payment terms of the contract. The following is a summary of the contractual amounts of consumer finance receivables, which is not significantly different than recorded investment, that are (i) more than 30 days delinquent, but not yet in repossession, and (ii) in repossession, but not yet charged off (dollars in millions):

	September 30,
	2014								2013
	North America		International		Total		Percent of Contractual Amount Due		North America		International		Total		Percent of Contractual Amount Due
31 - 60 days	$	865	$	114	$	979	3.9	%	$	690	$	49	$	739	3.8	%
Greater than 60 days	305		120		425		1.7		247		44		291		1.5
	1,170		234		1,404		5.6		937		93		1,030		5.3
In repossession	44		5		49		0.2		41		4		45		0.3
	$	1,214	$	239	$	1,453	5.8	%	$	978	$	97	$	1,075	5.6	%

The accrual of finance charge income has been suspended on $675 million and $642 million of consumer finance receivables (based on contractual amount due) at September 30, 2014 and December 31, 2013.

Impaired Consumer Finance Receivables - TDRs

Consumer finance receivables in the post-acquisition portfolio that become classified as troubled debt restructurings ("TDRs") are separately assessed for impairment. A specific allowance is estimated based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. The financial effects of the accounts that become classified as TDRs result in an impairment charge recorded as part of the provision for loan losses. Accounts that become classified as TDRs because of a payment deferral still accrue interest at the contractual rate and an additional fee is collected (where permitted) at each time of deferral and recorded as a reduction of accrued interest. No interest or fees are forgiven on a payment deferral to a customer and therefore, there are no additional financial effects of deferred loans becoming classified as TDRs. Accounts in Chapter 13 bankruptcy would have already been placed on non-accrual; therefore, there are no additional financial effects from these loans becoming classified as TDRs. At September 30, 2014, the outstanding balance of consumer finance receivables in the International Segment determined to be TDRs was insignificant; therefore, the following information is presented with regard to the TDRs in the North America Segment only.

The outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance is presented below (in millions):

	September 30, 2014			December 31, 2013
Outstanding recorded investment	$	1,123		$	767
Less: allowance for loan losses	(140		)	(103		)
Outstanding recorded investment, net of allowance	$	983		$	664
Unpaid principal balance	$	1,142		$	779

Finance charge income from loans classified as TDRs is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy methodology applied to loans that are not classified as TDRs. Additional information about loans classified as TDRs is presented below (in millions):

	Three Months Ended September 30,				Nine Months Ended September 30,
	2014		2013		2014		2013
Average recorded investment	$	1,057	$	552	$	937	$	417
Finance charge income recognized	$	124	$	20	$	183	$	45

The following table provides information on consumer loans at the time they became classified as TDRs (dollars in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
	Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount		Number of Accounts	Amount
Recorded investment	13,543	$	232	11,364	$	204	35,748	$	598	27,302	$	478

A redefault is when an account meets the requirements for evaluation under our charge-off policy (See Note 1 - "Summary of Significant Accounting Policies" in our Form 10-K for additional information). The unpaid principal balance, net of recoveries, of loans that redefaulted during the reporting period and were within 12 months or less of being modified as a TDR were $12 million and $9 million for the three months ended September 30, 2014 and 2013, and $22 million and $15 million for the nine months ended September 30, 2014 and 2013.

Commercial Finance Receivables

Following is a summary of activity in our commercial finance receivables portfolio (in millions):

	Nine Months Ended September 30,
	2014									2013
	North America			International			Total			North America		International			Total
Commercial finance receivables, net of fees - beginning of period	$	1,975		$	4,725		$	6,700		$	560	$	—		$	560
International operations acquisition	—			—			—			—		3,990			3,990
Net funding (collections) of commercial finance receivables	551			144			695			797		(229		)	568
Charge-offs	—			—			—			—		—			—
Foreign currency translation	(13		)	(231		)	(244		)	—		128			128
Balance at end of period	$	2,513		$	4,638		$	7,151		$	1,357	$	3,889		$	5,246

A summary of the activity in the allowance for commercial loan losses is as follows (in millions):

	Three Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	23		$	40		$	12	$	12	$	24
Provision for loan losses	—		(2		)	(2		)	1		—		1
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		4		4
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

	Nine Months Ended September 30,
	2014								2013
	North America		International			Total			North America		International		Total
Balance at beginning of period	$	17	$	34		$	51		$	6	$	—	$	6
Provision for loan losses	—		(13		)	(13		)	7		11		18
Charge-offs	—		—			—			—		—		—
Recoveries	—		—			—			—		5		5
Foreign currency translation	—		(1		)	(1		)	—		—		—
Balance at end of period	$	17	$	20		$	37		$	13	$	16	$	29

Commercial Credit Quality

We extend wholesale credit to dealers primarily in the form of approved lines of credit to purchase new vehicles as well as used vehicles. Each commercial lending request is evaluated, taking into consideration the borrower's financial condition and the underlying collateral for the loan.

We use proprietary models to assign each dealer a risk rating. These models use historical performance data to identify key factors about a dealer that we consider significant in predicting a dealer's ability to meet its financial obligations. We also consider numerous other financial and qualitative factors including capitalization and leverage, liquidity and cash flow, profitability and credit history. 

We regularly review our models to confirm the continued business significance and statistical predictability of the factors and update the models to incorporate new factors or other information that improves statistical predictability. In addition, we verify the existence of the assets collateralizing the receivables by physical audits of vehicle inventories, which are performed with increased frequency for higher risk (i.e., Groups III, IV, V and VI) dealers. We perform a credit review of each dealer at least annually and adjust the dealer's risk rating, if necessary.

Performance of our commercial finance receivables is evaluated based on our internal dealer risk rating analysis, as payment for wholesale receivables is generally not required until the dealer has sold the vehicle inventory. Wholesale and dealer loan receivables with the same dealer customer share the same risk rating.

A summary of the credit risk profile by dealer grouping of the commercial finance receivables is as follows (in millions):

			September 30, 2014		December 31, 2013
Group I	-	Dealers with superior financial metrics	$	711	$	598
Group II	-	Dealers with strong financial metrics	1,732		1,588
Group III -	-	Dealers with fair financial metrics	2,606		2,174
Group IV -	-	Dealers with weak financial metrics	1,315		1,622
Group V	-	Dealers warranting special mention due to potential weaknesses	604		488
Group VI -	-	Dealers with loans classified as substandard, doubtful or impaired	183		230
Balance at end of period			$	7,151	$	6,700

The credit lines for Group VI dealers are suspended and no further funding is extended to these dealers. 

At September 30, 2014 and December 31, 2013 substantially all of our commercial finance receivables were current with respect to payment status.

Impaired Commercial Finance Receivables

We consider a loan impaired when, based on current information and events, it is probable that we will be unable to collect all amounts due according to the contractual terms of the loan agreement. The amount of impairment is based on expected proceeds, including the estimated amount of future cash flows and/or the fair value of underlying collateral, compared to the recorded investment of the loan. A specific allowance for losses is established in the amount of any measured impairment.

Commercial finance receivables classified as TDRs are assessed for impairment and included in our allowance for credit losses based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. For receivables where foreclosure is probable, the fair value of the collateral is used to estimate the specific impairment. At September 30, 2014 and December 31, 2013, there were no outstanding commercial finance receivables classified as TDRs.

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Consolidated Balance Sheets Balance Sheet Parentheticals (USD $)	Sep. 30, 2014	Dec. 31, 2013
Common Stock, Number of Shares, Par Value and Other Disclosures [Abstract]
Entity Common Stock, Shares Authorized	1,000	1,000
Entity Common Stock, Shares issued	502	502
Common stock par value per share	$ 1.00	$ 1.00

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Segments (Notes)

9 Months Ended

Sep. 30, 2014

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment Reporting

We offer substantially similar products and services throughout many different regions, subject to local regulations and market conditions. We evaluate our business in two operating segments: the North America Segment (consisting of operations in the U.S. and Canada) and the International Segment (consisting of operations in all other countries). Our chief operating decision maker evaluates the operating results and performance of our business based on these operating segments. The management of each segment is responsible for executing our strategies.

For segment reporting purposes only, interest expense related to the senior notes has been allocated based on targeted leverage for each segment. Interest expense in excess of the targeted overall leverage is reflected in the "Corporate" column below. In addition, the interest income on $1.7 billion in intercompany loans provided to the international operations is presented in the "Corporate" column as revenue.

All inter-segment balances and transactions have been eliminated. Key financial data for our operating segments were as follows (in millions):

	Three Months Ended September 30, 2014
	North America		International		Corporate		Eliminations			Total
Total revenue	$	759	$	502	$	14	$	(14	)	$	1,261
Operating expenses, including leased vehicle expenses	366		159		—		—			525
Provision for loan losses	119		41		—		—			160
Interest expense	124		244		14		(14		)	368
Income before income taxes	$	150	$	58	$	—	$	—		$	208

	Three Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	622	$	245	$	13	$	(13	)	$	867
Operating expenses, including leased vehicle expenses	246		90		—		—			336
Provision for loan losses	108		9		—		—			117
Interest expense	93		76		12		(13		)	168
Acquisition and integration expenses	—		7		—		—			7
Income before income taxes	$	175	$	63	$	1	$	—		$	239

	Nine Months Ended September 30, 2014
	North America		International		Corporate			Eliminations			Total
Total revenue	$	2,086	$	1,463	$	45		$	(45	)	$	3,549
Operating expenses, including leased vehicle expenses	950		459		—			—			1,409
Provision for loan losses	312		96		—			—			408
Interest expense	320		706		56			(45		)	1,037
Income before income taxes	$	504	$	202	$	(11	)	$	—		$	695

	Nine Months Ended September 30, 2013
	North America		International		Corporate		Eliminations			Total
Total revenue	$	1,750	$	493	$	28	$	(28	)	$	2,243
Operating expenses, including leased vehicle expenses	637		179		—		—			816
Provision for loan losses	283		28		—		—			311
Interest expense	266		157		19		(28		)	414
Acquisition and integration expenses	—		29		—		—			29
Income before income taxes	$	564	$	100	$	9	$	—		$	673

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Finance receivables, net	$	14,575	$	17,147	$	31,722	$	12,878	$	16,404	$	29,282
Total assets	$	24,032	$	19,541	$	43,573	$	19,094	$	18,896	$	37,990

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Document and Entity Information Document	9 Months Ended
	Sep. 30, 2014	Oct. 23, 2014
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2014
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	Q3
Trading Symbol	acf
Entity Registrant Name	General Motors Financial Company, Inc.
Entity Central Index Key	0000804269
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		503

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Disclosure of AOCI (Notes)

9 Months Ended

Sep. 30, 2014

Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]

Comprehensive Income (Loss) Note [Text Block]

Accumulated Other Comprehensive (Loss) Income

A summary of changes in accumulated other comprehensive income (loss) is as follows (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Defined benefit plans, net:
Balance at beginning of period	$	3		$	—		$	3		$	—
Unrealized gain on subsidiary pension	—			—			—			—
Balance at end of period	3			—			3			—
Foreign currency translation adjustment:
Balance at beginning of period	62			(68		)	8			(3		)
Translation (loss) gain	(272		)	95			(218		)	30
Balance at end of period	(210		)	27			(210		)	27
Total accumulated other comprehensive (loss) income	$	(207	)	$	27		$	(207	)	$	27

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Consolidated Statements Of Income And Comprehensive Income (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenue
Financial charge income	$ 883	$ 647	$ 2,595	$ 1,709
Leased vehicle income	297	172	735	415
Other income	81	48	219	119
Revenues	1,261	867	3,549	2,243
Costs and expenses
Salaries and benefits	158	123	448	313
Other operating expenses	139	80	398	189
Total operating expenses	297	203	846	502
Leased vehicle expenses	228	133	563	314
Provision for loan losses	160	117	408	311
Interest expense	368	168	1,037	414
Acquisition and integration expenses	0	7	0	29
Costs and Expenses	1,053	628	2,854	1,570
Income before income taxes	208	239	695	673
Income Tax provision	50	78	217	228
Net income	158	161	478	445
Other comprehensive income
Foreign currency translation adjustment	(272)	95	(218)	30
Other comprehensive (loss) income	(272)	95	(218)	30
Comprehensive income	$ (114)	$ 256	$ 260	$ 475

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Derivative Financial Instruments And Hedging Activities

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative Financial Instruments And Hedging Activities

Derivative Financial Instruments and Hedging Activities

Derivative swap and cap agreements consist of the following (in millions):

	September 30, 2014				December 31, 2013
	Notional		Fair Value(a)		Notional		Fair Value(a)
Assets
Interest rate swaps	$	3,370	$	15	$	2,422	$	11
Interest rate caps	2,583		11		1,398		7
Foreign currency swaps(b)	1,678		—		1,678		3
Total assets(c)	$	7,631	$	26	$	5,498	$	21
Liabilities
Interest rate swaps	$	4,618	$	38	$	4,266	$	17
Interest rate caps	2,252		11		1,206		7
Foreign currency swaps(b)	2,227		20		2,133		29
Total liabilities(d)	$	9,097	$	69	$	7,605	$	53

_________________

(a) See Note 8 - " Fair Values of Assets and Liabilities " for further discussion of fair value disclosure related to the derivatives.

(b) The foreign currency swaps relate to (i) intercompany loans denominated in foreign currencies (notional balances on the intercompany loans of €670 million, £500 million and 148kr million have been translated to USD) and (ii) a $550 million cross-currency swap for a securitization in the International Segment.

(c) Included in other assets on the condensed consolidated balance sheets.

(d) Included in other liabilities on the condensed consolidated balance sheets.

As appropriate, we purchase interest rate cap agreements to limit floating rate exposures on certain of our revolving secured debt. We also utilize interest rate swap agreements to convert floating rate exposures on certain of our revolving debt or on securities issued in securitization transactions to fixed rates, thereby hedging the variability in interest expense paid.

We provided loans denominated in foreign currencies (euro, British pound and Swedish krona) to certain of our international entities for the equivalent of $1.7 billion. We purchase foreign currency swaps to hedge against any valuation change in the loans due to changes in foreign exchange rates. In addition, our operations in the U.K. issued debt denominated in U.S. dollars in an amount equivalent to £350 million and put a cross-currency swap in place to hedge against any valuation change in the debt due to changes in exchange rates.

The following table presents information on the effect of derivative instruments on the condensed consolidated statements of income and comprehensive income (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Non-designated hedges:
Interest rate contracts(a)	$	(9	)	$	5		$	(18	)	$	2
Foreign currency derivatives(b)	141			(99		)	99			(111		)
	$	132		$	(94	)	$	81		$	(109	)

_________________

(a) (Losses) gains recognized in earnings are included in interest expense.

(b) Gains for the three and nine months ended September 30, 2014 are substantially offset by translation losses (included in operating expenses) related to the foreign currency-denominated loans described above.

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Variable Interest Entities (Notes)

9 Months Ended

Sep. 30, 2014

Variable Interest Entities [Abstract]

Variable interest entities [Text Block]

Variable Interest Entities

Securitizations and credit facilities

The following table summarizes the assets and liabilities of our consolidated VIEs related to securitization and credit facilities (in millions):

	September 30, 2014		December 31, 2013
Restricted cash	$	1,696	$	1,523
VIE assets	$	25,512	$	23,584
VIE liabilities	$	20,321	$	19,448

The assets of the VIEs and the restricted cash we hold serve as the sole source of repayment for the debt issued by these entities. Investors in the notes issued by the VIEs do not have recourse to us or our other assets, with the exception of customary representation and warranty repurchase provisions and indemnities we provide as the servicer. We are not required and do not currently intend to provide additional financial support to these VIEs. While these subsidiaries are included in our consolidated financial statements, these subsidiaries are separate legal entities and their assets are legally owned by them and not available to our creditors.

In addition, we entered into interest rate swaps and caps with certain special-purpose entities ("SPEs") that issue variable rate debt against fixed rate securitized assets. Under the terms of these swaps, the SPEs are obligated to pay us a fixed rate of interest on certain payment dates in exchange for receiving a floating rate of interest on notional amounts equal to the outstanding balance of the secured debt. This arrangement enables the SPEs to mitigate the interest rate risk inherent in issuing variable rate debt that is secured by fixed rate securitized assets, as required to maintain ratings on such securitizations. See Note 7 - "Derivative Financial Instruments and Hedging Activities" for further discussion.

Other VIEs

We consolidate certain operating entities that provide auto finance and financial services, which we do not control through a majority voting interest. We manage these entities and maintain a controlling financial interest in them and are exposed to the risks of ownership through contractual arrangements. The majority voting interests in these entities are indirectly wholly-owned by our parent, GM. Prior to December 2013, the voting interests in these entities were indirectly wholly-owned by us. At September 30, 2014 and December 31, 2013, total assets of these entities were $4.7 billion and $3.9 billion, which were comprised primarily of cash and cash equivalents and finance receivables; and total liabilities were $3.9 billion and $3.0 billion, which were comprised primarily of debt, accounts payable (primarily trade) and accrued liabilities. In the nine months ended September 30, 2014 total revenue recorded by these entities was $148 million and net income was $29 million. In the three months ended September 30, 2014 total revenue recorded by these entities was $30 million and net income was $8 million. These amounts are stated prior to intercompany eliminations and include amounts related to securitization and credit facilities held by consolidated VIEs. Liabilities recognized as a result of consolidating these entities generally do not represent claims against us or our other subsidiaries and assets recognized generally are for the benefit of these entities operations and cannot be used to satisfy our or our subsidiaries obligations.

Transfers of finance receivables to non-VIEs

Under certain debt agreements, we transfer finance receivables to third-party banks, which are not considered VIEs.  These transfers do not meet the criteria to be considered sales; therefore, the finance receivables and the related debt are included in our condensed consolidated financial statements.  Any collections received on the transferred receivables are available only for the repayment of the related debt.  At September 30, 2014 and December 31, 2013, $2.7 billion and $2.8 billion in finance receivables had been transferred in secured funding arrangements to third-party banks, to which $2.6 billion and $2.7 billion in secured debt was outstanding.

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Restricted Cash (Tables)

9 Months Ended

Sep. 30, 2014

Cash and Cash Equivalents [Abstract]

Schedule of Restricted Cash and Cash Equivalents [Table Text Block]

The following table summarizes the components of restricted cash (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Securitization notes payable	$	1,046	$	357	$	1,403	$	890	$	208	$	1,098
Revolving credit facilities	26		267		293		62		415		477
Other	34		330		364		26		357		383
Total restricted cash	$	1,106	$	954	$	2,060	$	978	$	980	$	1,958

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Regulatory Capital and Other Regulatory Matters (Notes)

9 Months Ended

Sep. 30, 2014

Regulatory Capital and Other Regulatory Matters [Abstract]

Regulatory Capital Requirements under Banking Regulations [Text Block]

Regulatory Capital

The International Segment includes the operations of certain stand-alone entities that operate in local markets as either banks or regulated finance companies that are subject to regulatory restrictions. These regulatory restrictions, among other things, require that these entities meet certain minimum capital requirements and may restrict dividend distributions and ownership of certain assets. We were in compliance with all regulatory requirements at September 30, 2014. Total assets of our regulated international banks and finance companies were approximately $11.4 billion and $12.1 billion at September 30, 2014 and December 31, 2013.

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Income Taxes

9 Months Ended

Sep. 30, 2014

Income Tax Disclosure [Abstract]

Income Taxes

Income Taxes

For interim income tax reporting we estimate our annual effective tax rate and apply it to our year-to-date ordinary income. Tax jurisdictions with a projected or year-to-date loss for which a tax benefit cannot be realized are excluded from the annualized effective tax rate. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur.

Our effective income tax rate was 24.0% and 31.2% for the three and nine months ended September 30, 2014 and 32.8% and 33.9% for the three and nine months ended September 30, 2013. The decrease in the effective income tax rate is primarily due to settlements within various jurisdictions.

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Commitments And Contingencies (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]
Debt Instrument, Face Amount	$ 7,500,000,000	$ 4,000,000,000
Indirect Tax Contingency	75,000,000
Loss Contingency, Estimate of Possible Loss	125,000,000
Loss Contingency Accrual	$ 58,000,000

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Fair Values Of Assets And Liabilities

9 Months Ended

Sep. 30, 2014

Fair Value Disclosures [Abstract]

Fair Value Of Financial Instruments

Fair Values of Assets and Liabilities

Refer to Note 10 - "Fair Values of Assets and Liabilities" to the consolidated financial statements in our Form 10-K for further discussion of valuation techniques and fair value measurement levels.

Assets and liabilities itemized below were measured at fair value on a recurring basis, using either the market approach (i), the cost approach (ii) or the income approach (iii) (in millions):

		Fair Value
	Level	September 30, 2014		December 31, 2013
Assets
Money market funds(i)(a)	1	$	2,318	$	1,452
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	15		11
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	—		3
Total assets		$	2,344	$	1,473
Liabilities
Derivatives not designated as hedging instruments:
Interest rate swaps(iii)	3	$	38	$	17
Interest rate caps(i)	2	11		7
Foreign currency swaps(i)	2	20		29
Total liabilities		$	69	$	53

_________________ 

(a) Excludes cash in banks of $1.3 billion and $1.6 billion at September 30, 2014 and December 31, 2013.

The tables below present a reconciliation for interest rate swap agreements measured at fair value on a recurring basis using significant unobservable inputs (Level 3) (in millions):

	Three Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	17		$	(34	)	$	7		$	(20	)
Total realized and unrealized gains included in earnings	(1		)	(11		)	2			1
Purchases	—			—			—			—
Settlements	(1		)	5			(3		)	7
Foreign currency translation	—			2			2			(4		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

	Nine Months Ended September 30,
	2014						2013
	Assets			Liabilities			Assets			Liabilities
Balance at beginning of period	$	11		$	(17	)	$	—		$	—
Total realized and unrealized gains included in earnings	5			(37		)	4			(4		)
Purchases	—			—			7			(19		)
Settlements	(1		)	14			(5		)	10
Foreign currency translation	—			2			2			(3		)
Balance at end of period	$	15		$	(38	)	$	8		$	(16	)

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Commitments And Contingencies

9 Months Ended

Sep. 30, 2014

Commitments and Contingencies Disclosure [Abstract]

Commitments And Contingencies

Commitments and Contingencies

Guarantees of Indebtedness

The payments of principal and interest on senior notes issued by our top-tier holding company are guaranteed by AFSI. At September 30, 2014 and December 31, 2013, the par value of these senior notes was $7.5 billion and $4.0 billion. See Note 15 - "Guarantor Consolidating Financial Statements" for further discussion.

Legal Proceedings

As a consumer finance company, we are subject to various consumer claims and litigation seeking damages and statutory penalties, based upon, among other things, usury, disclosure inaccuracies, wrongful repossession, violations of bankruptcy stay provisions, certificate of title disputes, fraud, breach of contract and discriminatory treatment of credit applicants. Some litigation against us could take the form of class action complaints by consumers and certain legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. We establish reserves for legal claims when payments associated with the claims become probable and the payments can be reasonably estimated. Given the inherent difficulty of predicting the outcome of litigation and regulatory matters, it is generally very difficult to predict what the eventual outcome will be, and when the matter will be resolved. The actual costs of resolving legal claims may be higher or lower than any amounts reserved for the claims. At September 30, 2014, we estimated our reasonably possible legal exposure for unfavorable outcomes to be $125 million, and have accrued $58 million.

Other Administrative Tax Matters

We accrue non-income tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they will be charged against income at that time.

In evaluating indirect tax matters, we take into consideration factors such as our historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. We reevaluate and update our accruals as matters progress over time. It is reasonably possible that some of the matters for which accruals have not been established could be decided unfavorably to us and could require us to make expenditures for which we estimate the aggregate risk to be a range of up to $75 million.

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Fair Value Of Financial Instruments

9 Months Ended

Sep. 30, 2014

Fair Value Of Financial Instruments [Abstract]

Fair Value Of Financial Instruments

Fair Values of Financial Instruments

Fair values are based on estimates using present value or other valuation techniques in cases where quoted market prices are not available. Those techniques are significantly affected by the assumptions used, including the discount rate and the estimated timing and amount of future cash flows. Therefore, the estimates of fair value may differ substantially from amounts that ultimately may be realized or paid at settlement or maturity of the financial instruments and those differences may be material. Disclosures about fair value of financial instruments exclude certain financial instruments and all non-financial instruments. Accordingly, the aggregate fair value amounts presented do not represent the underlying value of our company.

Estimated fair values, carrying values and various methods and assumptions used in valuing our financial instruments are set forth below (in millions):

			September 30, 2014				December 31, 2013
		Level	Carrying Value		Estimated Fair Value		Carrying Value		Estimated Fair Value
Financial assets:
Cash and cash equivalents	(a)	1	$	1,517	$	1,517	$	1,074	$	1,074
Finance receivables, net	(b)	3	$	31,722	$	32,064	$	29,282	$	29,301
Restricted cash	(a)	1	$	2,060	$	2,060	$	1,958	$	1,958
Interest rate swap agreements	(c)	3	$	15	$	15	$	11	$	11
Interest rate cap agreements purchased	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	—	$	—	$	3	$	3
Financial liabilities:
Secured debt
North America	(e)	2	$	12,874	$	12,935	$	12,479	$	12,565
International	(f)	2	$	5,394	$	5,409	$	5,113	$	5,113
International	(g)	3	$	4,664	$	4,641	$	4,481	$	4,492
Unsecured debt
North America	(h)	2	$	7,858	$	8,013	$	4,000	$	4,106
International	(i)	2	$	2,862	$	2,862	$	1,282	$	1,282
International	(g)	3	$	122	$	127	$	1,691	$	1,690
Interest rate swap agreements	(c)	3	$	38	$	38	$	17	$	17
Interest rate cap agreements sold	(d)	2	$	11	$	11	$	7	$	7
Foreign currency swap agreements	(d)	2	$	20	$	20	$	29	$	29

_________________

(a) Cash and cash equivalents and restricted cash bear interest at market rates; therefore, carrying value is considered to be a reasonable estimate of fair value.

(b) The fair value of the consumer finance receivables in the North America Segment is estimated based upon forecasted cash flows on the receivables discounted using a pre-tax weighted average cost of capital. The fair value of the consumer finance receivables in the International Segment is estimated based on forecasted cash flows on the receivables discounted using current origination rates for similar type loans. Commercial finance receivables generally have variable interest rates and maturities of one year or less. Therefore, the carrying value is considered to be a reasonable estimate of fair value.

(c) The fair values of the interest rate swap agreements are estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(d) The fair values of the interest rate cap agreements and foreign currency swap agreements are based on quoted market prices.

(e) Secured debt in the North America Segment is comprised of revolving credit facilities, publicly-issued secured debt, and privately-issued secured debt. For revolving credit facilities with variable rates of interest and terms of one year or less, carrying value is considered to be a reasonable estimate of fair value. The fair value of the publicly and privately issued secured term debt is based on quoted market prices, when available. If quoted market prices are not available, the market value is estimated using quoted market prices of similar securities.

(f) The level 2 secured debt in the International Segment has terms of one year or less, or has been priced within the last six months; therefore, par value is considered to be a reasonable estimate of fair value.

(g) The fair value of level 3 secured debt and unsecured debt in the International Segment is estimated by discounting future net cash flows expected to be settled using current risk-adjusted rates.

(h) The fair value of unsecured debt in the North America Segment is based on quoted market prices in thinly-traded markets.

(i) The level 2 unsecured debt in the International Segment has terms of one year or less; therefore, par value is considered to be a reasonable estimate of fair value.

The fair value of our consumer finance receivables is based on observable and unobservable inputs within a discounted cash flow model. Those unobservable inputs reflect assumptions regarding expected prepayments, deferrals, delinquencies, recoveries and charge-offs of the loans within the portfolio. The cash flow model produces an estimated amortization schedule of the finance receivables which is the basis for the calculation of the series of cash flows that derive the fair value of the portfolio. For the North America Segment, the series of cash flows is calculated and discounted using a weighted average cost of capital using unobservable debt and equity percentages, an unobservable cost of equity and an observable cost of debt based on companies with a similar credit rating and maturity profile. For the International Segment, the series of cash flows is calculated and discounted using current interest rates. Macroeconomic factors could affect the credit performance of our portfolio and therefore could potentially impact the assumptions used in our cash flow model.

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Segments Operations Reporting by Revenue (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Segment Reporting Information [Line Items]
Revenues	$ 1,261	$ 867	$ 3,549	$ 2,243
Operating Expenses	525	336	1,409	816
Provision for Loan, Lease, and Other Losses	160	117	408	311
Interest expense	368	168	1,037	414
Acquisition and integration expenses	0	7	0	29
Income before income taxes	208	239	695	673
Operating Segments [Member] | North America Segment [Member]
Segment Reporting Information [Line Items]
Revenues	759	622	2,086	1,750
Operating Expenses	366	246	950	637
Provision for Loan, Lease, and Other Losses	119	108	312	283
Interest expense	124	93	320	266
Income before income taxes	150	175	504	564
Operating Segments [Member] | International Segment [Member]
Segment Reporting Information [Line Items]
Revenues	502	245	1,463	493
Operating Expenses	159	90	459	179
Provision for Loan, Lease, and Other Losses	41	9	96	28
Interest expense	244	76	706	157
Acquisition and integration expenses		7		29
Income before income taxes	58	63	202	100
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Revenues	14	13	45	28
Operating Expenses			0	0
Provision for Loan, Lease, and Other Losses		0	0	0
Interest expense	14	12	56	19
Income before income taxes	0	1	(11)	9
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues	(14)	(13)	(45)	(28)
Interest expense	(14)	(13)	(45)	(28)
Income before income taxes		$ 0	$ 0	$ 0

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Disclosure of AOCI (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Jun. 30, 2014	Dec. 31, 2013	Jun. 30, 2013	Dec. 31, 2012
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Net of Tax	$ 3	$ 0	$ 3	$ 0	$ 3	$ 3	$ 0
Other Comprehensive (Income) Loss, Pension and Other Postretirement Benefit Plans, Adjustment, Net of Tax	0	0	0	0
Accumulated Other Comprehensive Income (Loss), Foreign Currency Translation Adjustment, Net of Tax	(210)	27	(210)	27	62	8	(68)	(3)
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax	(272)	95	(218)	30
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (207)	$ 27	$ (207)	$ 27		$ 11

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Segments Narrative (Details) (USD $) In Billions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]
Number of Operating Segments	2
Intercompany loans	$ 1.7

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Finance Receivables (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Recorded Investment, Nonaccrual Status	$ 675		$ 675		$ 642
Troubled Debt Restructurings - Subsequent Default	12	9	22	15
Consumer Finance Receivables | North America Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield, Reclassifications from Nonaccretable Difference	$ 7	$ 19	$ 40	$ 73

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Debt (Details)	1 Months Ended		9 Months Ended					9 Months Ended		1 Months Ended
	Sep. 30, 2014 USD ($) Rate	Jul. 31, 2014 USD ($) Rate	Sep. 30, 2014 USD ($) Rate	Sep. 30, 2014 CAD	Dec. 31, 2013 USD ($)	Sep. 30, 2014 North America Segment [Member] USD ($)	Dec. 31, 2013 North America Segment [Member] USD ($)	Sep. 30, 2014 International Segment [Member] USD ($)	Dec. 31, 2013 International Segment [Member] USD ($)	Jul. 31, 2014 July Two Thousand Seventeen [Member] USD ($)	Jul. 31, 2014 July Two Thousand Nineteen [Member] USD ($)	Sep. 30, 2014 September Two Thousand Seventeen [Member] USD ($)	Sep. 30, 2014 September Two Thousand Twenty One [Member] USD ($)	Oct. 23, 2014 Subsequent Event [Member] Minimum [Member] EUR (€) Rate
Debt Instrument [Line Items]
New Credit Facilities During Period			$ 445,000,000
Proceeds from Secured Notes Payable			7,100,000,000
Unsecured debt	10,842,000,000		10,842,000,000		6,973,000,000	7,858,000,000	4,000,000,000	2,984,000,000	2,973,000,000
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	3.00%	2.625%												1.875%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	4.375%	3.50%
Proceeds from Issuance of Senior Long-term Debt	2,000,000,000	1,500,000,000		400,000,000						700,000,000	800,000,000	750,000,000	1,250,000,000
Debt Instrument, Interest Rate, Stated Percentage	3.25%		3.25%	3.25%
Proceeds from Unsecured Lines of Credit								181,000,000
Proceeds from Issuance of Medium-term Notes														€ 500,000,000
Debt Instrument, Maturity Date										Jul. 31, 2017	Jul. 31, 2019	Sep. 30, 2017	Sep. 30, 2021	Oct. 31, 2019

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Summary Of Significant Accounting Policies Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2014

Accounting Policies [Abstract]

Business Combinations Policy [Policy Text Block]

Acquisition of Ally Financial International Operations

We acquired Ally Financial Inc.'s ("Ally Financial") auto finance and financial services operations in Germany, the United Kingdom (the "U.K."), Italy, Sweden, Switzerland, Austria, Belgium, the Netherlands, Greece, Spain, Chile, Colombia and Mexico on April 1, 2013. We acquired Ally Financial's auto finance and financial services operations in France and Portugal on June 1, 2013, and we acquired Ally Financial's auto finance and financial services operations in Brazil on October 1, 2013. Additionally, we have agreed to acquire Ally Financial's non-controlling 40% equity interest in GMAC-SAIC Automotive Finance Company Limited ("GMAC-SAIC"), a joint venture, which conducts auto finance operations in China. This agreement is subject to certain regulatory and other approvals. We consider it probable that our acquisition of Ally Financial's interest in GMAC-SAIC will occur in late 2014 or as soon as practicable thereafter. The results of operations of the acquired entities since the applicable acquisition dates are included in our financial statements for the three and nine months ended September 30, 2014 and 2013.

Segment Reporting, Policy [Policy Text Block]

Segment Information

We evaluate our business in two operating segments: North America ("the North America Segment") and international ("the International Segment"). The North America Segment includes our operations in the U.S. and Canada. The International Segment includes our operations in all other countries. For additional financial information regarding our business segments, see Note 12 - "Segment Reporting."

Business Presentation, Policy

Basis of Presentation

The condensed consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiaries, including certain special-purpose financing entities utilized in secured financing transactions, which are considered variable interest entities ("VIEs"). All intercompany transactions and balances have been eliminated in consolidation.

The interim period consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles ("GAAP") in the United States of America. These interim period condensed consolidated financial statements should be read in conjunction with the consolidated financial statements that are included in our Annual Report on Form 10-K filed on February 6, 2014 ("Form 10-K"). Certain prior periods amounts were reclassified to conform to our current year presentation.

The condensed consolidated financial statements at September 30, 2014, and for the three and nine months ended September 30, 2014 and 2013, are unaudited and, in management’s opinion, include all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the results for such interim periods. The results for interim periods are not necessarily indicative of results for a full year.

The preparation of financial statements in conformity with GAAP in the United States of America requires management to make estimates and assumptions which affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the amount of revenue and costs and expenses during the reporting periods. Actual results could differ from those estimates and those differences may be material. These estimates include, among other things, the determination of the allowance for loan losses on finance receivables, estimated recovery value on leased vehicles, goodwill, income taxes and the expected cash flows on the pre-acquisition consumer finance receivables.

Related Party Transaction [Policy Text Block]

Related Party Transactions

We are the wholly-owned captive finance subsidiary of our parent, General Motors Company ("GM"). We offer loan and lease finance products through GM-franchised dealers to consumers purchasing new and certain used vehicles manufactured by GM and make commercial loans directly to GM-franchised dealers. Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on consumer loan and lease finance products. In addition, GM makes payments to us to cover certain interest payments on commercial loans. At September 30, 2014 and December 31, 2013, we had related party receivables from GM in the amount of $195 million and $129 million under these programs.

At September 30, 2014 and December 31, 2013 we had $116 million and $62 million in loans outstanding to dealers that are consolidated by GM, in connection with our commercial lending program. Our international operations also provide financing to certain GM subsidiaries through factoring and other wholesale financing arrangements. At September 30, 2014 and December 31, 2013, $342 million and $588 million were outstanding under such arrangements, and are included in commercial finance receivables. At September 30, 2014 and December 31, 2013, we had $603 million and $368 million of related party payables due to GM, primarily for commercial finance receivables originated but not yet funded. These payables typically settle within 30 days.

We have a tax sharing agreement with GM for our U.S. operations, and we are obligated to pay GM for our share of the consolidated U.S. federal and certain state tax liabilities for taxable income recognized by us in any period beginning on or after October 1, 2010. Payments for the tax years 2010 through 2014 are deferred for four years from their original due date, and the total deferral amount is to not exceed $1.0 billion. The tax sharing agreement may be modified at any time by GM in its sole discretion. At September 30, 2014 and December 31, 2013, we had related party taxes payable to GM in the amount of $877 million and $643 million.

In September 2014, we and GM entered into a Support Agreement (the “Support Agreement”). Pursuant to the Support Agreement, if our earning assets leverage at the end of any calendar quarter is higher than thresholds set in the Support Agreement, We may require GM to provide funding sufficient to bring our earning assets leverage to within the appropriate threshold. In determining our earning assets leverage (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt. At September 30, 2014, our earning assets leverage ratio was 7.0, which is below the current applicable ratio of 8.0.

Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding and that GM will use its commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower on $4.0 billion under GM’s corporate revolving credit facilities. GM also agreed to certain provisions intended to ensure that we maintain adequate access to liquidity. Pursuant to these provisions, GM provided us with a $1.0 billion unsecured intercompany revolving credit facility (the “Junior Subordinated Revolving Credit Facility”), which replaced an existing $600 million intercompany credit facility with GM. There were no advances outstanding under the Junior Subordinated Revolving Credit Facility at September 30, 2014.

In October 2014, GM amended its two primary unsecured revolving credit facilities increasing GM's aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility.

We have the ability to borrow up to $2.0 billion against each of GM's unsecured revolving credit facilities, subject to available capacity. Our borrowings under GM's facilities are limited by GM's ability to borrow the entire amount available under the facilities. Therefore, we may be able to borrow up to $4.0 billion in total or may be unable to borrow depending on GM's borrowing activity. If we do borrow under these facilities, we expect such borrowings would be short-term in nature and, except in extraordinary circumstances, would not be used to fund our operating activities in the ordinary course of business. Neither we, nor any of our subsidiaries, guarantee any obligations under these facilities and none of our or our subsidiaries' assets secure these facilities.

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Principles

On January 1, 2014 we adopted Accounting Standards Update ("ASU") 2013-11, “Presentation of an Unrecognized Tax Benefit When a Net Operating Loss Carryforward, a Similar Tax Loss, or a Tax Credit Carryforward Exists” which was issued to eliminate diversity in practice. This ASU requires that companies net their unrecognized tax benefits against all same-jurisdiction net operating losses or tax credit carryforwards that would be used to settle the position with a tax authority. The adoption of this ASU did not have a material effect on our consolidated financial statements.

Accounting Standards Not Yet Adopted

In May 2014 the Financial Accounting Standards Board issued ASU 2014-09, “Revenue Recognition - Revenue from Contracts with Customers” ("ASU 2014-09") that requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. This update is effective for annual reporting periods beginning on or after December 15, 2016 and interim periods therein and requires expanded disclosures. We are currently assessing the impact the adoption of ASU 2014-09 will have on our condensed consolidated financial statements.

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Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2014

Variable Interest Entities [Abstract]

Schedule of Variable Interest Entities [Table Text Block]

The following table summarizes the assets and liabilities of our consolidated VIEs related to securitization and credit facilities (in millions):

	September 30, 2014		December 31, 2013
Restricted cash	$	1,696	$	1,523
VIE assets	$	25,512	$	23,584
VIE liabilities	$	20,321	$	19,448

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Leased Vehicles Summary of Changes in Leased Vehicles (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Property Subject to or Available for Operating Lease, Net [Abstract]
Leased Vehicles Accounted For Operating Leases Net Of Manufacturing Incentives	$ 4,025	$ 1,976
Leases Acquired - Acquisition		9
Leased Vehicles Purchased	4,077	2,180
Leased Vehicles Returned (End of Term)	(662)	(192)
Leased Vehicles Returned (Default)	(39)	(16)
Manufacturing Incentives	(524)	(288)
Foreign Currency Translation On Leases	(76)	(22)
Leased Vehicles Accounted For Operating Leases Net Of Manufacturing Incentives	$ 6,801	$ 3,647

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Finance Receivables Delinquency (Details) (Consumer Finance Receivables, USD $) In Millions, unless otherwise specified	Sep. 30, 2014 Rate	Sep. 30, 2013 Rate
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable Recorded Investment 31 To 60 Days Past Due	$ 979	$ 739
Financing Receivable Recorded Investment Greater Than 60 Days Past Due	425	291
Financing Receivable Recorded Investment Greater Than 30 Days Past Due	1,404	1,030
Financing Receivable Recorded Investment Pass Due and in Repossession	49	45
Financing Receivable, Recorded Investment, Past Due	1,453	1,075
Financing Receivable Recorded Investment 31 To 60 Days Past Due Percentage Of Contractual Amount	3.90%	3.80%
Financing Receivables Greater than 60 Days Past Due Percent of Contractual Amount due	1.70%	1.50%
Financing Receivable Greater than 30 Days Past Due Percent of Contractual Amount due	5.60%	5.30%
Financing Receivables Recorded Investment Pass Due and in Repossession Percent of Contractual Amount	0.20%	0.30%
Percent of Contractual Amount Due	5.80%	5.60%
North America Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable Recorded Investment 31 To 60 Days Past Due	865	690
Financing Receivable Recorded Investment Greater Than 60 Days Past Due	305	247
Financing Receivable Recorded Investment Greater Than 30 Days Past Due	1,170	937
Financing Receivable Recorded Investment Pass Due and in Repossession	44	41
Financing Receivable, Recorded Investment, Past Due	1,214	978
International Segment [Member]
Financing Receivable, Recorded Investment, Past Due [Line Items]
Financing Receivable Recorded Investment 31 To 60 Days Past Due	114	49
Financing Receivable Recorded Investment Greater Than 60 Days Past Due	120	44
Financing Receivable Recorded Investment Greater Than 30 Days Past Due	234	93
Financing Receivable Recorded Investment Pass Due and in Repossession	5	4
Financing Receivable, Recorded Investment, Past Due	$ 239	$ 97

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Consolidated Statements Of Cash Flows (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013
Statement of Cash Flows [Abstract]
Net Cash Provided by (Used in) Operating Activities	$ 1,400	$ 1,254
Net Cash Provided by (Used in) Investing Activities, Continuing Operations [Abstract]
Purchases of consumer finance receivables, net	(10,850)	(6,310)
Principal Collection and Recoveries on Receivables	(8,124)	(5,099)
Net funding of commercial finance receivables	(408)	(619)
Purchases of leased vehicles, net	(3,227)	(1,746)
Proceeds from termination of leased vehicles	395	142
Payments to Acquire Businesses, Net of Cash Acquired	(46)	(2,107)
Purchases of property and equipment	(37)	(10)
Change in restricted cash	(187)	(74)
Change in other assets	(2)	(22)
Net Cash Provided by (Used in) Investing Activities, Continuing Operations	(6,238)	(5,647)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations [Abstract]
Net increase in debt (original maturities less than three months)	(913)	0
Borrowings and issuance of secured debt	15,847	11,676
Payments on secured debt	(13,568)	(9,009)
Proceeds from Issuance of Unsecured Debt	5,403	4,198
Repayments of Unsecured Debt	(1,339)	(1,817)
Repayment of acquisition related debt	0	(1,416)
Proceeds from Contributed Capital	0	1,300
Payments of Debt Issuance Costs	(107)	(69)
Net Cash Provided by (Used in) Financing Activities, Continuing Operations	5,323	4,863
Cash and Cash Equivalents, Period Increase (Decrease)	485	470
Effect of Exchange Rate on Cash and Cash Equivalents	(42)	(3)
Cash and cash equivalents at beginning of period	1,074	1,289
Cash and cash equivalents at end of period	$ 1,517	$ 1,756

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Debt

9 Months Ended

Sep. 30, 2014

Debt Disclosure [Abstract]

Debt Disclosure [Text Block]

Debt

Debt consists of the following (in millions):

	September 30, 2014						December 31, 2013
	North America		International		Total		North America		International		Total
Secured
Revolving credit facilities	$	697	$	5,736	$	6,433	$	1,678	$	7,322	$	9,000
Securitization notes payable	12,177		4,322		16,499		10,801		2,272		13,073
Total secured	$	12,874	$	10,058	$	22,932	$	12,479	$	9,594	$	22,073
Unsecured
Senior notes	$	7,858	$	—	$	7,858	$	4,000	$	—	$	4,000
Credit facilities	—		2,217		2,217		—		2,370		2,370
Other unsecured debt	—		767		767		—		603		603
Total unsecured	$	7,858	$	2,984	$	10,842	$	4,000	$	2,973	$	6,973

Secured Debt

Most of the secured debt was issued by variable interest entities, as further discussed in Note 6 - "Variable Interest Entities." This debt is repayable only from proceeds related to the underlying pledged finance receivables and lease related assets.

During the nine months ended September 30, 2014, we entered into $445 million in new revolving credit facilities and issued $7.1 billion in securitization notes payable.

We are required to hold funds in restricted cash accounts to provide additional collateral for borrowings under certain of our secured credit facilities. Additionally, certain of our secured credit facilities contain various covenants requiring minimum financial ratios, asset quality and portfolio performance ratios (portfolio net loss and delinquency ratios and pool level cumulative net loss ratios) as well as limits on deferment levels. Failure to meet any of these covenants could result in an event of default under these agreements. If an event of default occurs under these agreements, the lenders could elect to declare all amounts outstanding under these agreements to be immediately due and payable, enforce their interests against collateral pledged under these agreements, restrict our ability to obtain additional borrowings under these agreements and/or remove us as servicer. At September 30, 2014, we were in compliance with all covenants related to our credit facilities.

Unsecured Debt

In July 2014, our top-tier holding company issued $1.5 billion in senior notes, of which $700 million are due in July 2017 and $800 million are due in July 2019. Interest on the respective tranches is 2.625% and 3.50%, and is payable semiannually. In September 2014, our top-tier holding company issued $2.0 billion in senior notes, of which $750 million are due in September 2017 and $1.25 billion are due in September 2021. Interest on the respective tranches is 3.00% and 4.375%, and is payable semiannually. The other terms of all these senior notes are substantially the same as those of the senior notes our top-tier holding company has previously issued. We intend to use the net proceeds from these offerings for general corporate purposes.

All of the senior notes issued by our top-tier holding company may be redeemed, at our option, in whole or in part, at any time before maturity at the redemption prices set forth in the indentures that govern the senior notes, plus accrued and unpaid interest, to the redemption date. In addition, if a change of control occurs, as that term is defined in the indentures that govern the senior notes, prior to us being rated "investment grade" by at least two of three listed rating agencies, the holders of these senior notes will have the right, subject to certain conditions, to require us to repurchase their senior notes at a purchase price equal to 101% of the aggregate principal amount of senior notes repurchased plus accrued and unpaid interest, as of the date of repurchase. All of our senior notes are guaranteed solely by AmeriCredit Financial Services, Inc. ("AFSI"); none of our other subsidiaries are guarantors of our senior notes. See Note 15 - "Guarantor Consolidating Financial Statements" for further discussion.

The indentures that govern the senior notes issued by our top-tier holding company provide for customary events of default, including nonpayment, failure to comply with covenants or other agreements in the indentures, if any subsidiary guarantee shall cease to be in full force and effect or any guarantor shall deny or disaffirm its obligations under its subsidiary guarantee, and certain events of bankruptcy or insolvency. If any event of default occurs and is continuing with respect to a series of senior notes, the trustee or the holders of at least 25% in principal amount of the then outstanding senior notes of such series may declare all of the senior notes of such series to be due and payable immediately. At September 30, 2014, we were in compliance with all covenants related to our senior notes.

In May 2014 our Canadian subsidiary issued C$400 million of 3.25% senior notes through a private placement in Canada. The notes are due in May 2017 with interest payable semiannually. These notes are guaranteed by our top-tier holding company and by AFSI. We intend to use the net proceeds from this offering for general corporate purposes.

The International Segment issues unsecured debt through credit facilities with banks and other non-bank funding instruments. During the nine months ended September 30, 2014, we entered into $181 million of new unsecured committed credit facilities.

In October 2014, a European subsidiary issued €500 million of 1.875% notes under its euro medium term notes program, which are listed on the Irish Stock Exchange. These notes are due in October 2019 with interest payable annually. These notes are guaranteed by our top-tier holding company and by AFSI. We intend to use the net proceeds for general corporate purposes.

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Fair Values Of Assets And Liabilities Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amount Exluded From Money Market Funds	$ 1,300,000,000		$ 1,600,000,000
Fair Value, Measurements, Recurring [Member] | Not Designated as Hedging Instrument [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets, Fair Value Disclosure	2,344,000,000		1,473,000,000
Liabilities Fair Value Disclosure	69,000,000		53,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	2,318,000,000	[1]	1,452,000,000	[1]
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	15,000,000		11,000,000
Derivative Liability	38,000,000		17,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	11,000,000		7,000,000
Derivative Liability	11,000,000		7,000,000
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 2 [Member] | Not Designated as Hedging Instrument [Member] | Foreign Exchange Contract [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative Asset	0		3,000,000
Derivative Liability	$ 20,000,000		$ 29,000,000

[1] Excludes cash in banks of $1.3 billion and $1.6 billion at September 30, 2014 and December 31, 2013.

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Guarantor Consolidating Financial Statements Guarantor Income Statements (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Condensed Income Statements, Captions [Line Items]
Financial charge income	$ 883	$ 647	$ 2,595	$ 1,709
Leased vehicle income	297	172	735	415
Other income	81	48	219	119
Equity In Income Of Affiliates	0	0	0	0
Revenues	1,261	867	3,549	2,243
Salaries and benefits	158	123	448	313
Other operating expenses	139	80	398	189
Total operating expenses	297	203	846	502
Leased vehicle expenses	228	133	563	314
Provision for loan losses	160	117	408	311
Interest expense	368	168	1,037	414
Acquisition and integration expenses	0	7	0	29
Costs and Expenses	1,053	628	2,854	1,570
Income before income taxes	208	239	695	673
Income Tax provision	(50)	(78)	(217)	(228)
Net income	158	161	478	445
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(114)	256	260	475
Parent Company [Member]
Condensed Income Statements, Captions [Line Items]
Other income	18	42	58	91
Equity In Income Of Affiliates	242	113	601	413
Revenues	260	155	659	504
Salaries and benefits	0	0	0	0
Other operating expenses	117	(74)	112	(76)
Total operating expenses	117	(74)	112	(76)
Leased vehicle expenses	0	0	0	0
Provision for loan losses	0	0	0	0
Interest expense	56	57	155	128
Costs and Expenses	173	(17)	267	52
Income before income taxes	87	172	392	452
Income Tax provision	71	(11)	86	(7)
Net income	158	161	478	445
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(114)	256	260	475
Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Financial charge income	48	37	117	106
Other income	115	85	346	209
Equity In Income Of Affiliates	139	123	408	427
Revenues	302	245	871	742
Salaries and benefits	64	56	180	158
Other operating expenses	(75)	42	(1)	(7)
Total operating expenses	(11)	98	179	151
Leased vehicle expenses	0	0	0	0
Provision for loan losses	97	53	232	180
Interest expense	8	54	27	143
Costs and Expenses	94	205	438	474
Income before income taxes	208	40	433	268
Income Tax provision	(27)	25	(11)	52
Net income	181	65	422	320
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	148	79	392	341
Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Financial charge income	835	610	2,478	1,603
Leased vehicle income	297	172	735	415
Other income	46	100	126	228
Equity In Income Of Affiliates	0	0	0	0
Revenues	1,178	882	3,339	2,246
Salaries and benefits	94	67	268	155
Other operating expenses	160	112	474	272
Total operating expenses	254	179	742	427
Leased vehicle expenses	228	133	563	314
Provision for loan losses	63	64	176	131
Interest expense	339	236	979	552
Acquisition and integration expenses		7		29
Costs and Expenses	884	619	2,460	1,453
Income before income taxes	294	263	879	793
Income Tax provision	(94)	(92)	(292)	(273)
Net income	200	171	587	520
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	(71)	266	371	553
Consolidation, Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Other income	(98)	(179)	(311)	(409)
Equity In Income Of Affiliates	(381)	(236)	(1,009)	(840)
Revenues	(479)	(415)	(1,320)	(1,249)
Salaries and benefits	0	0	0	0
Other operating expenses	(63)	0	(187)	0
Total operating expenses	(63)	0	(187)	0
Leased vehicle expenses	0	0	0	0
Provision for loan losses	0	0	0	0
Interest expense	(35)	(179)	(124)	(409)
Costs and Expenses	(98)	(179)	(311)	(409)
Income before income taxes	(381)	(236)	(1,009)	(840)
Income Tax provision	0	0	0	0
Net income	(381)	(236)	(1,009)	(840)
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$ (77)	$ (345)	$ (763)	$ (894)

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Derivative Financial Instruments And Hedging Activities (Tables)

9 Months Ended

Sep. 30, 2014

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments [Table Text Block]

Derivative swap and cap agreements consist of the following (in millions):

	September 30, 2014				December 31, 2013
	Notional		Fair Value(a)		Notional		Fair Value(a)
Assets
Interest rate swaps	$	3,370	$	15	$	2,422	$	11
Interest rate caps	2,583		11		1,398		7
Foreign currency swaps(b)	1,678		—		1,678		3
Total assets(c)	$	7,631	$	26	$	5,498	$	21
Liabilities
Interest rate swaps	$	4,618	$	38	$	4,266	$	17
Interest rate caps	2,252		11		1,206		7
Foreign currency swaps(b)	2,227		20		2,133		29
Total liabilities(d)	$	9,097	$	69	$	7,605	$	53

_________________

(a) See Note 8 - " Fair Values of Assets and Liabilities " for further discussion of fair value disclosure related to the derivatives.

(b) The foreign currency swaps relate to (i) intercompany loans denominated in foreign currencies (notional balances on the intercompany loans of €670 million, £500 million and 148kr million have been translated to USD) and (ii) a $550 million cross-currency swap for a securitization in the International Segment.

(c) Included in other assets on the condensed consolidated balance sheets.

(d) Included in other liabilities on the condensed consolidated balance sheets.

Schedule of Cash Flow Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

The following table presents information on the effect of derivative instruments on the condensed consolidated statements of income and comprehensive income (in millions):

	Three Months Ended September 30,						Nine Months Ended September 30,
	2014			2013			2014			2013
Non-designated hedges:
Interest rate contracts(a)	$	(9	)	$	5		$	(18	)	$	2
Foreign currency derivatives(b)	141			(99		)	99			(111		)
	$	132		$	(94	)	$	81		$	(109	)

_________________

(a) (Losses) gains recognized in earnings are included in interest expense.

(b) Gains for the three and nine months ended September 30, 2014 are substantially offset by translation losses (included in operating expenses) related to the foreign currency-denominated loans described above.

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Finance Receivables Activity in post-acquisition consumer finance receivables portfolio (Details) (Consumer Finance Receivables, USD $) In Millions, unless otherwise specified							3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended
	Sep. 30, 2014	Dec. 31, 2013	Sep. 30, 2014 International Segment [Member]	Dec. 31, 2013 International Segment [Member]	Sep. 30, 2014 North America Segment [Member]	Dec. 31, 2013 North America Segment [Member]	Sep. 30, 2014 Post-Acquisition Portfolio	Sep. 30, 2013 Post-Acquisition Portfolio	Sep. 30, 2014 Post-Acquisition Portfolio	Sep. 30, 2013 Post-Acquisition Portfolio	Sep. 30, 2014 Post-Acquisition Portfolio International Segment [Member]	Sep. 30, 2013 Post-Acquisition Portfolio International Segment [Member]	Sep. 30, 2014 Post-Acquisition Portfolio International Segment [Member]	Sep. 30, 2013 Post-Acquisition Portfolio International Segment [Member]	Sep. 30, 2014 Post-Acquisition Portfolio North America Segment [Member]	Sep. 30, 2013 Post-Acquisition Portfolio North America Segment [Member]	Sep. 30, 2014 Post-Acquisition Portfolio North America Segment [Member]	Sep. 30, 2013 Post-Acquisition Portfolio North America Segment [Member]
Accounts Notes And Loans Receivable Rollforward [Roll Forward]
Financing Receivable, Gross	$ 25,216	$ 23,130	$ 12,601	$ 11,742	$ 12,615	$ 11,388			$ 21,956	$ 8,831			$ 11,394	$ 0			$ 10,562	$ 8,831
Business Combination, Acquired Receivables, Fair Value								6,378		6,378		6,378		6,378
Payments to Acquire Loans Receivable									11,129	6,330			6,255	2,350			4,874	3,980
Financing Receivable, Allowance for Credit Losses, Write-downs							(230)	(171)	(645)	(419)	(36)	(18)	(102)	(18)	(194)	(153)	(543)	(401)
Proceeds from Collection of Finance Receivables									(7,164)	(3,676)			(4,487)	(1,579)			(2,677)	(2,097)
Foreign Currency Translation - Finance Receivables									(658)	221			(656)	221			(2)	0
Financing Receivable, Gross	$ 25,216	$ 23,130	$ 12,601	$ 11,742	$ 12,615	$ 11,388	$ 24,618	$ 17,665	$ 24,618	$ 17,665	$ 12,404	$ 7,352	$ 12,404	$ 7,352	$ 12,214	$ 10,313	$ 12,214	$ 10,313

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Guarantor Consolidating Financial Statements

9 Months Ended

Sep. 30, 2014

Guarantor Consolidating Financial Statements [abstract]

Guarantor Condensed Consolidated Financial Statements [Text Block]

Guarantor Consolidating Financial Statements

The payment of principal and interest on senior notes issued by our top-tier holding company is currently guaranteed solely by AFSI (the "Guarantor") and none of our other subsidiaries (the "Non-Guarantor Subsidiaries").

The consolidating financial statements present consolidating financial data for (i) General Motors Financial Company, Inc. (on a parent only basis), (ii) the Guarantor, (iii) the combined Non-Guarantor Subsidiaries, (iv) an elimination column for adjustments to arrive at the information for the parent company and our subsidiaries on a consolidated basis and (v) the parent company and our subsidiaries on a consolidated basis at September 30, 2014 and December 31, 2013, and for the three and nine months ended September 30, 2014 and 2013.

Investments in subsidiaries are accounted for by the parent company using the equity method for purposes of this presentation. Results of operations of subsidiaries are therefore reflected in the parent company's investment accounts and earnings. The principal elimination entries set forth below eliminate investments in subsidiaries and intercompany balances and transactions.

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	809		$	708		$	—		$	1,517
Finance receivables, net	—			1,901			29,821			—			31,722
Restricted cash	—			19			2,041			—			2,060
Property and equipment, net	—			8			157			—			165
Leased vehicles, net	—			—			5,796			—			5,796
Deferred income taxes	22			—			518			(183		)	357
Goodwill	1,095			—			150			—			1,245
Related party receivables	—			18			177			—			195
Other assets	97			45			374			—			516
Due from affiliates	6,510			—			—			(6,510		)	—
Investment in affiliates	7,373			3,397			—			(10,770		)	—
Total assets	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,932		$	—		$	22,932
Unsecured debt	7,500			—			3,342			—			10,842
Accounts payable and accrued expenses	86			141			763			—			990
Deferred income	—			—			317			—			317
Deferred income taxes	—			200			4			(183		)	21
Taxes payable	76			—			163			—			239
Related party taxes payable	877			—			1			(1		)	877
Related party payables	—			—			603			—			603
Other liabilities	—			22			172			—			194
Due to affiliates	—			1,760			4,749			(6,509		)	—
Total liabilities	8,539			2,123			33,046			(6,693		)	37,015
Shareholder's equity:
Common stock	—			—			698			(698		)	—
Additional paid-in capital	4,798			79			3,111			(3,190		)	4,798
Accumulated other comprehensive (loss) income	(207		)	(38		)	(192		)	230			(207		)
Retained earnings	1,967			4,033			3,079			(7,112		)	1,967
Total shareholder's equity	6,558			4,074			6,696			(10,770		)	6,558
Total liabilities and shareholder's equity	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	395		$	679		$	—		$	1,074
Finance receivables, net	—			612			28,670			—			29,282
Restricted cash	—			20			1,938			—			1,958
Property and equipment, net	—			5			127			—			132
Leased vehicles, net	—			—			3,383			—			3,383
Deferred income taxes	1			—			358			—			359
Goodwill	1,095			—			145			—			1,240
Related party receivables	29			—			100			—			129
Other assets	74			5			358			(4		)	433
Due from affiliates	3,754			863			—			(4,617		)	—
Investment in affiliates	6,994			3,565			—			(10,559		)	—
Total assets	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,073		$	—		$	22,073
Unsecured debt	4,000			—			2,973			—			6,973
Accounts payable and accrued expenses	101			133			716			(4		)	946
Deferred income	—			—			168			—			168
Deferred income taxes	(28		)	161			(46		)	—			87
Taxes payable	83			—			204			—			287
Related party taxes payable	643			—			1			(1		)	643
Related party payables	—			—			368			—			368
Other liabilities	—			14			146			—			160
Due to affiliates	863			1,474			2,280			(4,617		)	—
Total liabilities	5,662			1,782			28,883			(4,622		)	31,705
Shareholder's equity:
Common stock	—			—			532			(532		)	—
Additional paid-in capital	4,785			79			3,833			(3,912		)	4,785
Accumulated other comprehensive income (loss)	11			(8		)	24			(16		)	11
Retained earnings	1,489			3,612			2,486			(6,098		)	1,489
Total shareholder's equity	6,285			3,683			6,875			(10,558		)	6,285
Total liabilities and shareholder's equity	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	48		$	835		$	—		$	883
Leased vehicle income	—			—			297			—			297
Other income	18			115			46			(98		)	81
Equity in income of affiliates	242			139			—			(381		)	—
	260			302			1,178			(479		)	1,261
Costs and expenses
Salaries and benefits	—			64			94			—			158
Other operating expenses	117			(75		)	160			(63		)	139
Total operating expenses	117			(11		)	254			(63		)	297
Leased vehicle expenses	—			—			228			—			228
Provision for loan losses	—			97			63			—			160
Interest expense	56			8			339			(35		)	368
	173			94			884			(98		)	1,053
Income before income taxes	87			208			294			(381		)	208
Income tax (benefit) provision	(71		)	27			94			—			50
Net income	$	158		$	181		$	200		$	(381	)	$	158
Comprehensive (loss) income	$	(114	)	$	148		$	(71	)	$	(77	)	$	(114	)

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	37		$	610	$	—		$	647
Leased vehicle income	—			—			172		—			172
Other income	42			85			100		(179		)	48
Equity in income of affiliates	113			123			—		(236		)	—
	155			245			882		(415		)	867
Costs and expenses
Salaries and benefits	—			56			67		—			123
Other operating expenses	(74		)	42			112		—			80
Total operating expenses	(74		)	98			179		—			203
Leased vehicle expenses	—			—			133		—			133
Provision for loan losses	—			53			64		—			117
Interest expense	57			54			236		(179		)	168
Acquisition and integration expenses	—			—			7		—			7
	(17		)	205			619		(179		)	628
Income before income taxes	172			40			263		(236		)	239
Income tax provision (benefit)	11			(25		)	92		—			78
Net income	$	161		$	65		$	171	$	(236	)	$	161
Comprehensive income	$	256		$	79		$	266	$	(345	)	$	256

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	117		$	2,478	$	—		$	2,595
Leased vehicle income	—			—			735		—			735
Other income	58			346			126		(311		)	219
Equity in income of affiliates	601			408			—		(1,009		)	—
	659			871			3,339		(1,320		)	3,549
Costs and expenses
Salaries and benefits	—			180			268		—			448
Other operating expenses	112			(1		)	474		(187		)	398
Total operating expenses	112			179			742		(187		)	846
Leased vehicle expenses	—			—			563		—			563
Provision for loan losses	—			232			176		—			408
Interest expense	155			27			979		(124		)	1,037
	267			438			2,460		(311		)	2,854
Income before income taxes	392			433			879		(1,009		)	695
Income tax (benefit) provision	(86		)	11			292		—			217
Net income	$	478		$	422		$	587	$	(1,009	)	$	478
Comprehensive income	$	260		$	392		$	371	$	(763	)	$	260

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	106		$	1,603	$	—		$	1,709
Leased vehicle income	—			—			415		—			415
Other income	91			209			228		(409		)	119
Equity in income of affiliates	413			427			—		(840		)	—
	504			742			2,246		(1,249		)	2,243
Costs and expenses
Salaries and benefits	—			158			155		—			313
Other operating expenses	(76		)	(7		)	272		—			189
Total operating expenses	(76		)	151			427		—			502
Leased vehicle expenses	—			—			314		—			314
Provision for loan losses	—			180			131		—			311
Interest expense	128			143			552		(409		)	414
Acquisition and integration expenses	—			—			29		—			29
	52			474			1,453		(409		)	1,570
Income before income taxes	452			268			793		(840		)	673
Income tax provision (benefit)	7			(52		)	273		—			228
Net income	$	445		$	320		$	520	$	(840	)	$	445
Comprehensive income	$	475		$	341		$	553	$	(894	)	$	475

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	255		$	233		$	912		$	—		$	1,400
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(4,872		)	(9,297		)	3,319			(10,850		)
Principal collections and recoveries on consumer finance receivables	—			(109		)	8,233			—			8,124
Proceeds from sale of consumer finance receivables, net	—			3,319			—			(3,319		)	—
Net collections (funding) of commercial finance receivables	—			160			(568		)	—			(408		)
Purchases of leased vehicles, net	—			—			(3,227		)	—			(3,227		)
Proceeds from termination of leased vehicles	—			—			395			—			395
Acquisition of international operations, net of cash acquired	(46		)	—			—			—			(46		)
Purchases of property and equipment	—			(4		)	(33		)	—			(37		)
Change in restricted cash	—			1			(188		)	—			(187		)
Change in other assets	—			—			(2		)	—			(2		)
Net change in investment in affiliates	—			546			—			(546		)	—
Net cash used in investing activities	(46		)	(959		)	(4,687		)	(546		)	(6,238		)
Cash flows from financing activities:
Net decrease in debt (original maturities less than three months)	—			—			(913		)	—			(913		)
Borrowings and issuance of secured debt	—			—			15,847			—			15,847
Payments on secured debt	—			—			(13,568		)	—			(13,568		)
Borrowings and issuance of unsecured debt	3,500			—			1,903			—			5,403
Payments on unsecured debt	—			—			(1,339		)	—			(1,339		)
Net capital contributions	26			—			(572		)	546			—
Debt issuance costs	(39		)	—			(68		)				(107		)
Net change in due from/due to affiliates	(3,696		)	1,140			2,556			—			—
Net cash (used in) provided by financing activities	(209		)	1,140			3,846			546			5,323
Net increase in cash and cash equivalents	—			414			71			—			485
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(42		)				(42		)
Cash and cash equivalents at beginning of period	—			395			679			—			1,074
Cash and cash equivalents at end of period	$	—		$	809		$	708		$	—		$	1,517

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	106		$	286		$	862		$	—		$	1,254
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(3,971		)	(6,546		)	4,207			(6,310		)
Principal collections and recoveries on consumer finance receivables	—			—			5,099			—			5,099
Proceeds from sale of consumer finance receivables, net	—			4,207			—			(4,207		)	—
Net funding of commercial finance receivables	—			(2,326		)	(886		)	2,593			(619		)
Proceeds from sale of commercial finance receivables, net	—			2,593			—			(2,593		)	—
Purchases of leased vehicles, net	—			—			(1,746		)	—			(1,746		)
Proceeds from termination of leased vehicles	—			—			142			—			142
Acquisition of international operations, net of cash acquired	(2,547		)	(863		)	440			863			(2,107		)
Purchases of property and equipment	—			(1		)	(9		)	—			(10		)
Change in restricted cash	—			—			(74		)	—			(74		)
Change in other assets	—			(44		)	22			—			(22		)
Net change in investment in affiliates	(29		)	(350		)	—			379			—
Net cash used in investing activities	(2,576		)	(755		)	(3,558		)	1,242			(5,647		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			11,676			—			11,676
Payments on secured debt	—			—			(9,009		)	—			(9,009		)
Borrowings and issuance of unsecured debt	2,500			—			1,698			—			4,198
Payments on unsecured debt	—			—			(1,817		)	—			(1,817		)
Borrowings on related party line of credit	1,100			—			—			—			1,100
Payments on related party line of credit	(1,100		)	—			—			—			(1,100		)
Repayment of debt to Ally Financial	—			—			(1,416		)	—			(1,416		)
Net capital contributions	1,300			—			382			(382		)	1,300
Debt issuance costs	(29		)	—			(40		)	—			(69		)
Net change in due from/due to affiliates	(1,301		)	467			1,697			(863		)	—
Net cash provided by financing activities	2,470			467			3,171			(1,245		)	4,863
Net increase (decrease) in cash and cash equivalents	—			(2		)	475			(3		)	470
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(6		)	3			(3		)
Cash and cash equivalents at beginning of period	—			1,252			37			—			1,289
Cash and cash equivalents at end of period	$	—		$	1,250		$	506		$	—		$	1,756