FORT WORTH, Texas, Oct. 7, 2008 --(BUSINESS WIRE)--AMERICREDIT CORP. (NYSE: ACF) announced the pricing of a $500 million offering of automobile receivables-backed securities on October 6, 2008, under the AmeriCredit Automobile Receivables Trust (AMCAR) platform, which primarily includes subprime automobile loan contracts. The lead managers on the transaction are Deutsche Bank Securities, Wachovia Securities and Barclays Capital. AmeriCredit uses net proceeds from securitization transactions to provide long-term financing of its receivables.

The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2008-1, in five classes of Notes:

   Note Class           Amount   Average Life     Price  Interest Rate
----------------- ------------   ------------ ---------  -------------
       A-1        $100,000,000     0.21 years 100.00000  LIBOR + 1.00%
       A-2         202,000,000     1.00 years 100.00000  LIBOR + 4.00%
       A-3          74,046,000     2.48 years 100.00000  LIBOR + 5.00%
        B           51,514,000     2.44 years  Retained
        C           72,440,000     1.34 years  Retained

The Class A Notes will be placed with Deutsche Bank pursuant to AmeriCredit's forward purchase agreement with Deutsche Bank AG, Cayman Islands Branch. The weighted average coupon on the Class A Notes is 7.3%.

The Class B and Class C Notes will be retained by AmeriCredit and pledged as collateral to secure borrowings under AmeriCredit's funding facility with Wachovia Bank, N.A. The weighted average coupon of the notes being pledged under this funding facility is 11.2%.

The 2008-1 transaction will have initial credit enhancement of 24.35% of the original receivable pool balance, building to the total required enhancement level of 34.10% of the then-outstanding receivable pool balance. The initial 24.35% enhancement will consist of a 2.00% cash deposit and 22.35% overcollateralization.

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

 Note Class            Standard & Poor's      Moody's
-------------  -------------------------   -------------
     A-1                            A-1+         Prime-1
     A-2                             AAA             Aaa
     A-3                             AAA             Aaa
      B                               AA             Aa2
      C                                A              A3

Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the lead 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 across the United States. 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

Investor Relations
AmeriCredit Corp.
Caitlin DeYoung, 817-302-7394
Deborah Vestal, 817-302-7210

Source: AmeriCredit Corp.