General Motors Co. is considering a return to the auto-lending business, Bloomberg News reported Tuesday, citing three people familiar with the plans.

GM could try to buy back GMAC three years after it sold control in the lender, or it may start a new finance company, the sources said. Another option for GM could be a partnership with banks and other lending firms, they added.

One of Bloomberg's sources said GM Chief Executive Ed Whitacre wants to establish a lending business before the auto maker launches an initial public offering as soon as this year's fourth quarter.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.