GMAC Receives $5 Billion of Bailout Funds

But at the same time, the automaker is losing control of the financing business, which may or may not have positive results down the road.

"GM is now on a path to become the first global carmaker to have no influence/control over a captive auto finance company -- this may prove a disadvantage to GM sales or, if not, it may prompt other (original equipment manufacturers) to follow," Patel wrote in a note to investors.

The analyst said that the moves could allow GMAC to pickup market share in the long term, or may even eventually spur a public offering.

Separately, GMAC said Monday that it has accepted all the bonds tendered in a debt-for-equity swap that was also part of its capital-raising efforts. The company released few details about the results of the swap, but said that the conditions of the offers had been satisfied.

GMAC "intends to act quickly to resume automotive lending to a broader spectrum of customers," the company said in a statement.

The company's goal is to reach $30 billion in capital, the majority of which would come from the debt-for-equity exchange. GMAC has struggled to get bondholders to convert 75% of their debt into equity of the company and has yet to say whether it has met its goal.

The Treasury Department's investment in the company does not mean it is "passing judgment" on whether GMAC has met the Fed's requirements to raise additional capital, the official said.