FORT WORTH, Texas, Jul 17, 2007 (BUSINESS WIRE) -- AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $1.5 billion offering of automobile receivables-backed securities under the AmeriCredit Automobile Receivables Trust (AMCAR) platform, which primarily includes subprime automobile loan contracts. The lead managers on the transaction are Barclays Capital, Credit Suisse and Deutsche Bank Securities. The co-managers are JPMorgan, Lehman Brothers, RBS Greenwich Capital and UBS Investment Bank. Net proceeds from securitization transactions will be used to provide long-term financing of receivables.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2007-C-M, in six classes of Notes:

Note Class       Amount       Average Life     Price     Interest Rate
----------   --------------   ------------   ---------   -------------
       A-1   $  273,000,000     0.20 years   100.00000          5.318%
       A-2   $  370,000,000     0.90 years    99.99321           5.43%
     A-3-A   $  175,000,000     2.00 years    99.99574           5.42%
     A-3-B   $  271,000,000     2.00 years   100.00000   LIBOR + 0.03%
     A-4-A   $  150,000,000     3.36 years    99.98700           5.55%
     A-4-B   $  261,000,000     3.36 years   100.00000   LIBOR + 0.08%

The weighted average coupon on the Notes to be paid by AmeriCredit is 5.5%.

The Note Classes are rated by Standard & Poor's, Moody's Investors Service and Fitch Inc. The ratings by Note Class are:

  Note Class      Standard & Poor's        Moody's           Fitch
--------------    ------------------    --------------    ------------
  A-1                    A-1+                  Prime-1             F1+
  A-2                    AAA                       Aaa             AAA
  A-3-A                  AAA                       Aaa             AAA
  A-3-B                  AAA                       Aaa             AAA
  A-4-A                  AAA                       Aaa             AAA
  A-4-B                  AAA                       Aaa             AAA

MBIA Insurance Corporation will provide bond insurance for this transaction. Initial credit enhancement will total 9.0% of the original receivable pool balance building to the total required enhancement level of 13.0% of the then outstanding receivable pool balance. The initial 9.0% enhancement will consist of 2.0% cash and 7.0% overcollateralization.

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the lead managers and co-managers. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described in this press release, nor shall there be any sale of these securities in any State in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such State.

About AmeriCredit

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $15 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit

SOURCE: AmeriCredit Corp.

AmeriCredit Corp.
Investor Relations:
Caitlin DeYoung, 817-302-7394
Media Relations:
John Hoffmann, 817-302-7627