AmeriCredit Financial Services and DriveTime Car Sales have each launched a third securitization of subprime auto loans for 2017, totaling $1.62 billion in new notes.

AmeriCredit Automobile Receivables (AMCAR) Trust 2017-3 is an issuance of $1.23 billion in notes backed by auto loans to subprime customers of franchised General Motors and independent dealers partnering with AmeriCredit, a subsidiary of GM Financial since being acquired by the automaker in 2010.

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