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                                                                     Exhibit 4.8
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                             DECLARATION OF TRUST

                                      OF

                          AMERICREDIT CAPITAL TRUST I



     DECLARATION OF TRUST, dated as of January 25, 2001, among  Americredit
Corp., a Texas corporation, as Sponsor, and Bankers Trust (Delaware), a Delaware
banking corporation, Michael Barrington, Daniel Berce and Preston Miller, as
Trustees.  The Sponsor and the Trustees hereby agree as follows:

     1.  The trust created hereby shall be known as "AmeriCredit Capital Trust
I" in which name the Trustees, or the Sponsor to the extent provided herein, may
conduct the business of the Trust, make and execute contracts, and sue and be
sued.

     2.  The Sponsor hereby assigns, transfers, conveys and sets over to the
Trustees the sum of $10.  The Trustees hereby acknowledge receipt of such amount
in trust from the Sponsor, which amount shall constitute the initial trust
estate.  The Trustees hereby declare that they will hold the trust estate in
trust for the Sponsor.  It is the intention of the parties hereto that the Trust
created hereby constitutes a business trust under Chapter 38 of title 12 of the
Delaware Code, 12 Del. C. (S)(S)3801 et seq. (the "Business Trust Act"), and
that this document constitutes the governing instrument of the Trust.  The
Trustees are hereby authorized and directed to execute and file a certificate of
trust with the Delaware Secretary of State substantially in the form as the
Trustees may approve.

     3.  The Sponsor and the Trustees will enter into an amended and restated
Declaration of Trust, satisfactory to each such party and substantially in the
form included as an exhibit to the 1933 Act Registration Statement referred to
below, or in such other form as the Trustees may approve, to provide for the
contemplated operation of the Trust created hereby and the issuance of the Trust
Preferred Securities and common interests referred to therein.  Prior to the
execution and delivery of such amended and restated Declaration of Trust, the
Trustees shall not have any duty or obligation hereunder or with respect of the
trust estate, except as otherwise required by applicable law or as may be
necessary to obtain prior to such execution and delivery any licenses, consents
or approvals required by applicable law or otherwise.  However, notwithstanding
the foregoing, all Trustees may take all actions deemed proper as are necessary
to effect the transactions contemplated herein.

     4.  The Sponsor and the Trustees hereby authorize and direct the Sponsor,
as the agent of the Trust, (i) to file with the Securities and Exchange
Commission (the "Commission") and execute, in each case on behalf of the Trust,
(a) the Registration Statement on Form S-3 (the "1933

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Act Registration Statement") including pre-effective or post-effective
amendments to such Registration Statement, relating to the registration under
the Securities Act of 1933, as amended, of the Trust Preferred Securities of the
Trust and (b) a Registration Statement on Form 8-A (the "1934 Act Registration
Statement") (including all pre-effective and post-effective amendments thereto)
relating to the Registration of the Trust Preferred Securities of the Trust
under Section 12(b) of the Securities Exchange Act of 1934, as amended; (ii) to
file with the New York Stock Exchange and execute on behalf of the Trust a
listing application and all other applications, statements, certificates,
agreements and other instruments as shall be necessary or desirable to cause the
Trust Preferred Securities of the Trust to be listed on the New York Stock
Exchange; (iii) to file and execute on behalf of the Trust such applications,
reports, surety bonds, irrevocable consents, appointments of attorney for
service of process and other papers and documents as shall be necessary or
desirable to register the Trust Preferred Securities under the securities or
"Blue Sky" laws of such jurisdictions as the Sponsor, on behalf of the Trust,
may deem necessary or desirable; (iv) to execute and deliver letters or
documents to, or instruments for filing with, a depository relating to the Trust
Preferred Securities of the Trust; and (v) to execute, deliver and perform on
behalf of the Trust one or more underwriting agreements, dealer manager
agreements, escrow agreements and other related agreements providing for or
relating to the sale of the Trust Preferred Securities of the Trust. The
Trustees further hereby ratify and approve all actions having previously been
taken with respect to the foregoing. In the event that any filing referred to in
clauses (i) - (iii) above is required by the rules and regulations of the
Commission, the New York Stock Exchange or state securities or blue sky laws, to
be executed on behalf of the Trust by the Trustees, Michael Barrington, Daniel
Berce and Preston Miller, in their capacities as Trustees of the Trust, are
hereby authorized and directed to join in any such filing and to execute on
behalf of the Trust any and all of the foregoing, it being understood that
Bankers Trust (Delaware) in its capacity as Trustee of the Trust, shall not be
required to join in any such filing or execute on behalf of the Trust any such
document unless required by the rules and regulations of the Commission, the New
York Stock Exchange or state securities or blue sky laws. In connection with all
of the foregoing, the Sponsor and each such Trustee, solely in its capacity as
Trustee of the Trust and not in their individual capacities, hereby constitutes
and appoints Michael Barrington, Daniel Berce and Preston Miller, and each of
them, as his, her or its, as the case may be, true and lawful attorneys-in-fact,
and agents, with full power of substitution and resubstitution, for the Sponsor
or such Trustee or in the Sponsor's or such Trustee's name, place and stead, in
any and all capacities, to sign any and all amendments (including post-effective
amendments) to the 1933 Act Registration Statement and the 1934 Act Registration
Statement and to file the same, with all exhibits thereto, and other documents
in connection therewith, with the Commission, granting unto said attorneys-in-
fact and agents full power and authority to do and perform each and every act
and thing requisite and necessary to be done in connection therewith, as fully
to all intents and purposes as the Sponsor or such Trustee might or could do in
person, hereby ratifying and confirming all that said attorneys-in-fact and
agents or any of them, or their or his or her substitute or substitutes, shall
do or cause to be done by virtue hereof.

     5.  This Declaration of Trust may be executed in one or more counterparts.

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     6.  The number of Trustees initially shall be four (4) and thereafter the
number of Trustees shall be such number as shall be fixed from time to time by a
written instrument signed by the Sponsor which may increase or decrease the
number of Trustees; provided, however, that the number of Trustees shall in no
event be less than three (3); and provided, further that to the extent required
by the Business Trust Act, one Trustee shall either be a natural person who is a
resident of the State of Delaware or, if not a natural person, an entity which
has its principal place of business in the State of Delaware.  Subject to the
foregoing, the Sponsor is entitled to appoint or remove without cause any
Trustee at any time.  The Trustees may resign upon thirty days prior notice to
the Sponsor; provided, however, that no resignation of Bankers Trust (Delaware)
shall be effective until a successor Delaware Trustee has been appointed and has
accepted such appointment by instrument executed by such successor Delaware
Trustee and delivered to the Trust, the Sponsor and Bankers Trust (Delaware).

     7.  To the fullest extent permitted by applicable law, the Sponsor agrees
to indemnify the Trustees and any officers, directors, shareholders, members,
partners, employees, representatives, nominees, custodians or agents of the
Trustees (each of such persons being referred to as an "Indemnified Person")
for, and to hold each Indemnified Person harmless against, any loss, liability
or expense incurred without gross negligence or bad faith on its part, arising
out of or in connection with the acceptance or administration of the trust or
trusts hereunder, including the costs and expenses (including reasonable legal
fees and expenses) of defending itself against, or investigating, any claim or
liability in connection with the exercise or performance of any of its powers or
duties hereunder.  The obligation to indemnify as set forth in this paragraph 7
shall survive the termination of this Declaration.

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     IN WITNESS WHEREOF, the parties hereto have caused this Declaration of
Trust to be duly executed as of the day and year first above written.

                              AMERICREDIT CORP.
                              as Sponsor


                              By: _____________________________________
                              Name: ___________________________________
                              Title: __________________________________



                              BANKERS TRUST (DELAWARE),
                              as Trustee


                              By: _____________________________________
                              Name: ___________________________________
                              Title: __________________________________



                              ____________________________________
                              Michael Barrington,
                              as Trustee



                              ____________________________________
                              Daniel Berce,
                              as Trustee



                              ____________________________________
                              Preston Miller,
                              as Trustee

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