GM Grabs $2 Billion Windfall as Used-Car Prices Hit Record

There’s a big upside to record used-car prices: Auto lenders like GM Financial are cashing in.

General Motors Co.’s lending unit booked a $2 billion gain last year reselling the vehicles that came back from expired leases and anything the company repossessed, according to a regulatory filing Wednesday. That helped GM Financial to nearly double its annual profit to $5 billion, allowing it to pay a $3.5 billion dividend back to the automaker.