v3.26.3
Finance Receivables
 9 Months Ended
Sep. 30, 2026
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Finance Receivables Finance Receivables
September 30, 2026December 31, 2025
Retail finance receivables
Retail finance receivables(a)
$76,651 $75,404 
Less: allowance for loan losses(2,826)(2,656)
Total retail finance receivables, net73,825 72,748 
Commercial finance receivables
Commercial finance receivables(a)(b)
18,024 17,365 
Less: allowance for loan losses
(69)(68)
Total commercial finance receivables, net17,955 17,297 
Total finance receivables, net$91,780 $90,045 
Fair value utilizing Level 2 inputs$17,955 $17,297 
Fair value utilizing Level 3 inputs$73,981 $74,409 
________________
(a)    Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b)    Includes dealer financing of $17.6 billion and $16.8 billion, and other financing of $450 million and $596 million at September 30, 2026 and December 31, 2025. Commercial finance receivables are presented net of dealer cash management balances of $3.6 billion and $3.4 billion at September 30, 2026 and December 31, 2025.
Rollforward of Allowance for Retail Loan Losses A summary of the activity in the allowance for retail loan losses is as follows:
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Allowance for retail loan losses beginning balance$2,801 $2,630 $2,656 $2,400 
Provision for loan losses336 250 994 898 
Charge-offs(563)(494)(1,639)(1,461)
Recoveries259 257 810 778 
Foreign currency translation
(8)8 5 36 
Allowance for retail loan losses ending balance$2,826 $2,651 $2,826 $2,651 
The allowance for retail loan losses as a percentage of retail finance receivables was 3.7% and 3.5% at September 30, 2026 and December 31, 2025. The increase in the allowance for retail loan losses as a percentage of retail finance receivables is primarily due to changes in the composition of credit mix of the portfolio.
Retail Credit Quality Our retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. The following tables are consolidated summaries of the amortized cost basis of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at September 30, 2026 and December 31, 2025:
Year of OriginationSeptember 30, 2026
20262025202420232022PriorTotalPercent
Prime - FICO Score 680 and greater$18,412 $17,027 $10,543 $5,782 $3,154 $1,664 $56,581 73.8 %
Near-prime - FICO Score 620 to 6793,028 2,830 1,771 974 570 382 9,556 12.5 
Sub-prime - FICO Score less than 6203,717 2,974 1,850 947 581 447 10,515 13.7 
Retail finance receivables$25,157 $22,831 $14,163 $7,703 $4,305 $2,493 $76,651 100.0 %
Year of OriginationDecember 31, 2025
20252024202320222021PriorTotalPercent
Prime - FICO Score 680 and greater$22,850 $15,204 $9,298 $5,350 $2,712 $1,027 $56,440 74.9 %
Near-prime - FICO Score 620 to 6793,702 2,456 1,439 908 571 225 9,303 12.3 
Sub-prime - FICO Score less than 6203,847 2,530 1,395 958 614 318 9,661 12.8 
Retail finance receivables$30,399 $20,191 $12,132 $7,216 $3,897 $1,570 $75,404 100.0 %
We review the ongoing credit quality of our retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail 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 customer defaults on the payment terms of the contract. The following tables are consolidated summaries of the amortized cost basis of retail finance receivables by delinquency status for each vintage of the portfolio at September 30, 2026 and December 31, 2025, as well as summary totals for September 30, 2025. The tables also present gross charge-offs by vintage for the nine months ended September 30, 2026 and the year ended December 31, 2025:
Year of OriginationSeptember 30, 2026September 30, 2025
20262025202420232022PriorTotalPercentTotalPercent
0 - 30 days$24,768 $22,080 $13,482 $7,228 $3,975 $2,214 $73,748 96.2 %$73,318 96.7 %
31 - 60 days273 517 467 325 232 194 2,008 2.6 1,779 2.3 
Greater than 60 days99 204 192 136 90 81 803 1.0 682 0.9 
Finance receivables more than 30 days delinquent373 721 659 462 322 275 2,811 3.7 2,461 3.2 
In repossession15 29 21 14 8 4 92 0.1 78 0.1 
Finance receivables more than 30 days delinquent or in repossession388 751 681 475 329 279 2,903 3.8 2,540 3.3 
Retail finance receivables$25,157 $22,831 $14,163 $7,703 $4,305 $2,493 $76,651 100.0 %$75,857 100.0 %
Gross charge-offs$84 $489 $451 $305 $181 $129 $1,639 
Year of OriginationDecember 31, 2025
20252024202320222021PriorTotalPercent
0 - 30 days$29,871 $19,413 $11,524 $6,744 $3,576 $1,395 $72,523 96.2 %
31 - 60 days370 536 419 334 230 122 2,011 2.7 
Greater than 60 days140 218 172 129 86 51 795 1.1 
Finance receivables more than 30 days delinquent510 753 591 463 316 173 2,806 3.7 
In repossession18 24 17 10 6 2 75 0.1 
Finance receivables more than 30 days delinquent or in repossession527 777 608 472 321 175 2,881 3.8 
Retail finance receivables$30,399 $20,191 $12,132 $7,216 $3,897 $1,570 $75,404 100.0 %
Gross charge-offs$187 $603 $536 $358 $201 $113 $1,998 
The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $1.1 billion at both September 30, 2026 and December 31, 2025. Accrual of finance charge income on retail finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession.
Loan Modifications Under certain circumstances, we may agree to modify the terms of an existing loan with a borrower for various reasons, including financial difficulties. For those borrowers experiencing financial difficulties, we may provide interest rate reductions, principal forgiveness, payment deferments, term extensions or a combination thereof. A loan that is deferred greater than six months in the preceding twelve months would be considered to be other-than-insignificantly delayed. In such circumstances, we must determine whether the modification should be accounted for as an extinguishment of the original loan and a creation of a new loan, or the continuation of the original loan with modifications.
The amortized cost basis at September 30, 2026 and 2025 of the loans modified during the three and nine months ended September 30, 2026 and 2025 was insignificant. The unpaid principal balances, net of recoveries, of loans charged off during the reporting period that were modified within 12 months preceding default were insignificant for the three and nine months ended September 30, 2026 and 2025.
Commercial Credit Quality Our commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters, as well as advances to certain GM subsidiaries.
For our dealer financing, we use proprietary models to assign a risk rating to each dealer. We perform periodic credit reviews of each dealership and adjust the dealership's risk rating, if necessary. There is limited credit risk associated with other financing due to the structure of the business relationships.
Our dealer risk model and risk rating categories are as follows:
Dealer Risk RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.
Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the dealer finance receivables portfolio by dealer risk rating at September 30, 2026 and December 31, 2025:
Year of OriginationSeptember 30, 2026
Dealer Risk RatingRevolving20262025202420232022PriorTotalPercent
I
$14,334 $350 $291 $135 $89 $248 $209 $15,657 89.1 %
II
1,209 21 7 66 22 5 24 1,355 7.7 
III
488 13 3 38 1 14 6 562 3.2 
IV
— — — — — — — — — 
Balance at end of period$16,030 $384 $302 $239 $113 $267 $239 $17,574 100.0 %
Year of OriginationDecember 31, 2025
Dealer Risk RatingRevolving20252024202320222021PriorTotalPercent
I
$13,704 $380 $221 $125 $298 $160 $156 $15,045 89.7 %
II
989 16 33 25 7 35 2 1,106 6.6 
III
518 5 48 6 14 14 12 618 3.7 
IV
— — — — — — — — — 
Balance at end of period$15,211 $402 $302 $157 $319 $209 $170 $16,769 100.0 %
Floorplan advances comprise 99.3% and 99.1% of the total revolving balances at September 30, 2026 and December 31, 2025. Dealer term loans are presented by year of origination.
At September 30, 2026 and December 31, 2025, substantially all of our commercial finance receivables were current with respect to payment status, and activity in the allowance for commercial loan losses was insignificant for the three and nine months ended September 30, 2026 and 2025. Commercial finance receivables on nonaccrual status were insignificant and none at September 30, 2026 and December 31, 2025.
There were insignificant charge-offs during the nine months ended September 30, 2026, and no loan modifications were extended to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2026 and 2025.
Transfers of Finance Receivables We have continuing involvement with finance receivables that were transferred in 2025, primarily in our role as servicer. The outstanding balance of the previously transferred finance receivables subject to our continuing involvement was $1.2 billion at September 30, 2026. Refer to Note 10 for information on our representations and warranties.