General Motors’ Newest Movement
Following a tax abatement of $406,148, General Motors worked with Texas officials to break ground in San Antonio for the development of a new state-of-the-art complex to host their GM Financial wing, which handles auto loans and financing for General Motors’ clientele. After the ribbon-cutting event and the kick-off of the company’s latest move to support their captive financial division, the 100,000-square-foot, $26.5 million architectural piece has become host to hundreds of jobs averaging annual figures of $50,000 and up.
The offices opened on 3302 N. Ellison Drive in spring 2016, and they have served as an expansion to the credit center that has already been established in Alamo City, which hosted 60 employees. Like its Alamo City counterpart, GM Financial’s new building was placed in San Antonio for specific reasons pertaining to the demographics involved, ongoing business exchange and the requirements of the city for years to come. Fortunately, this also brings a plethora of positive changes to the automotive market and its subdivisions, including title-based lending services and those who use them.
This 14-acre development is estimated to bring $300 million in economic benefits to San Antonio over the first 10 years after its doors open, meaning there’s still plenty of development on the way for residents of the area. More impressive is the level of emphasis placed on this development, which was supported by Gov. Greg Abbott and Bexar County as a whole. Alongside the billions in roadside construction that have been underway along the road where GM’s new offices have been constructed, San Antonio officials were involved in ensuring that this operation would succeed.
The company hosted a grand opening event just last month to celebrate the success, which will bring a great deal of financial growth to the area for years to come.
The Role of GM Financial in San Antonio
GM Financial provides for the purchasing and financing of Chevrolet, Buick, GMC and Cadillac vehicles. Their offices host everything that a dealership and a bank together would be expected to: auto loans, leases and client services for those looking to purchase new and used vehicles as well as trade in their older ones. This complex is essentially a focal point for General Motors’ dealer services for the area as well as title management for those who are paying off a vehicle that’s been financed through this company or another.
In essence, this development is all but a dealership on its own, providing focused services for clients of General Motor as well as their competitors.
In addition, charity donations have been made to furnish residents of San Antonio with free vehicles, notably the Ronald McDonald House Charities of San Antonio. They’ve so far given away 17 such vehicles across the country as a whole and will continue to provide them to those in need of transportation. GM Financial is also providing other supplies to this organization, responding to the wish lists of families in need in all 50 states.
This has brought more people and jobs to San Antonio, which is raising the financial standing of the city and ultimately doing its part in an economic boom for current residents as well as new ones just settling into the area. Title loan companies will be able to work in conjunction with GM Financial to handle the exchange of recovered vehicles and streamline the process of moving auto titles between the host company, clients and title-based lending agencies. This equates to cleaner transactions for Texas residents when looking to take out a loan that’s secured by their auto title.
Further Impact on Title-Based Lending Services
Texas Title Loans is focused on bringing the most effective and ethical title loan services to the residents of San Antonio and Texas as a whole. Thanks to General Motors, we’re now even more capable of bringing the fastest loan deposits of the highest amounts directly to your bank account. The economical boom and impact on our trade also means greater affordability for our clients moving forward.
Because of all this, the risks of title loans in San Antonio have less impact on our clients. This is even better than it sounds, because where other lending services charge excessive APRs and deliver minimal sums of loan cash, this development will draw more residents to a lending solution that can save them more money in the long run while keeping them out of the notorious cycle of debt that non-title-based lending services are known to create.
As GM Financial gains ground and expands on its offerings to the citizens of San Antonio and Texas, the benefits of title-based lending services will spiral upward in the coming decade.