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                                                                     Exhibit 5.1
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                               January 29, 2001



AmeriCredit Corp.
801 Cherry Street, Suite 3900
Fort Worth, Texas 76102

     Re:  AmeriCredit Corp. - Registration Statement on Form S-3

Dear Ladies and Gentlemen:

     We have acted as special counsel for AmeriCredit Corp. (the "Company") in
connection with the preparation of a registration statement on Form S-3 (the
"Registration Statement") being filed with the Securities and Exchange
Commission (the "Commission") relating to the offering from time to time,
pursuant to Rule 415 of the General Rules and Regulations of the Commission
promulgated under the Securities Act of 1933, as amended (the "Securities Act"),
of the following securities of the Company with an aggregate offering price of
up to $500,000,000 or the equivalent thereof in one or more foreign currencies:
(i) senior debt securities (the "Senior Debt") and subordinated debt securities
(the "Subordinated Debt," and together with the Senior Debt, the "Debt
Securities"); (ii) guarantees  (the "Subsidiary Guarantees") of the Debt
Securities by AmeriCredit Financial Services, Inc., ACF Investment Corp.,
Americredit Corporation of California, AmeriCredit Financial Services of Canada
Ltd. and AmeriCredit Management Company (collectively, the "Guarantors"); (iii)
preferred stock, par value $0.01 per share (the "Preferred Stock"); (iv)
warrants to purchase Debt Securities (the "Debt Warrants"); (v) warrants to
purchase Preferred Stock or Common Stock (the "Equity Warrants," and together
with the Debt Warrants, the "Warrants");(vi) common stock, par value $0.01 per
share (the "Common Stock"); (vii) depositary shares representing a fraction of a
share of a particular class or series of Preferred Stock (the "Depositary
Shares"); (viii) Trust Preferred Securities (the "Trust Preferred Securities")
of AmeriCredit Capital Trust I (the "Trust"); (ix) the guarantees by the Company
of any Trust Preferred Securities issued by the Trust pursuant to a Preferred
Securities Guarantee Agreement to be executed by the Company (the "Preferred
Securities Guarantees"); and (x) trust debentures (the "Debentures").  The Debt
Securities, the Guarantees, the Preferred Stock, the Common Stock, the
Depositary Shares, the Warrants, the Trust Preferred Securities, the Preferred
Securities Guarantee and the Debentures are collectively referred to as the
"Securities."

     In our capacity as your special counsel in connection with such
registration, we are familiar with the proceedings taken and proposed to be
taken by the Company, the Trust and the
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AmeriCredit Corp.
January 29, 2001
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Guarantors in connection with the authorization and issuance of the Securities,
and, for the purposes of this opinion, have assumed such proceedings will be
timely completed in the manner presently proposed. In addition, we have made
such legal and factual examinations and inquiries, including an examination of
originals or copies, certified or otherwise identified to our satisfaction, of
such documents, corporate records and instruments, as we have deemed necessary
or appropriate for purposes of this opinion.

     In our examination, we have assumed the genuineness of all signatures, the
authenticity of all documents submitted to us as originals, the conformity to
authentic original documents of all documents submitted to us as copies and the
execution in substantially the form reviewed by us and filed as exhibits to the
Registration Statement of (i) the form of Senior Indenture; (ii) the form of
Subordinated Indenture; (iii) the form of Senior Debt Securities; (iv) the form
of Subordinated Debt Securities; (v) the form of Deposit Agreement; (vi) the
form of Warrant Agreement; (vii) the form of Trust Agreement for AmeriCredit
Capital Trust I; (viii) the form of Debenture Indenture; and (ix) the form of
Preferred Securities Guarantee Agreement.

     In connection with this opinion, we have also assumed that (i) the
Registration Statement, and any amendments thereto (including post-effective
amendments), will have become effective; (ii) a Prospectus Supplement will have
been prepared and filed with the Commission describing the Securities offered
thereby; (iii) all Securities will be issued and sold in compliance with
applicable federal and state securities laws and in the manner stated in the
Registration Statement and the applicable Prospectus Supplement; (iv) a Trust
Agreement (the "Trust Agreement") to be entered into among the Company, as
sponsor, the trustees of the Trust named therein, and the holders from time to
time, the Preferred Securities Guarantee, and the Indentures relating to the
Securities (the "Indentures") will each be duly authorized, executed and
delivered by the parties thereto; (v) each person signing the Trust Agreement,
the Preferred Securities Guarantee, and the Indentures will have the legal
capacity and authority to do so; (vi) at the time of any offering or sale of any
shares of Common Stock and/or Preferred Stock, that the Company shall have such
number of shares of Common Stock and/or Preferred Stock, as set forth in such
offering or sale, authorized or created and available for issuance; (vii) a
definitive purchase, underwriting or similar agreement with respect to any
Securities offered will have been duly authorized and validly executed and
delivered by the Company and the other parties thereto; and (viii) Securities
issuable upon conversion, exchange or exercise of any Securities being offered
will have been duly authorized, created and, if appropriate, reserved for
issuance upon such conversion, exchange or exercise.

     We are opining herein as to the effect on the subject transaction only of
the internal laws of the State of Texas and the Delaware General Corporation
Law, and we express no opinion with
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AmeriCredit Corp.
January 29, 2001
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respect to the applicability thereto, or the effect thereon, of the laws of any
other jurisdiction or as to any matters of municipal law or the laws of any
other local agencies within any state.

     Subject to the foregoing and the other matters set forth herein, it is our
opinion that, as of the date hereof:

     1.   With respect to the Debt Securities to be issued under an Indenture
(incorporating one of the forms of indenture filed as Exhibits 4.1 and 4.2 to
the Registration Statement or such other provisions as are contained in a
document that will be filed as an exhibit to or incorporated by reference in the
Registration Statement), when (a) the Indenture has been (i) duly authorized by
the Company's Board of Directors (the "Board"), (ii) duly executed and delivered
by each party thereto and (iii) duly qualified under the Trust Indenture Act of
1939, as amended, (the "Trust Indenture Act"), (b) the Board has taken all
necessary corporate action to approve the issuance of and establish the terms of
such Debt Securities, the terms of the offering and related matters, (c) the
Debt Securities have been executed and authenticated in accordance with the
terms of the Indenture and (d) the Debt Securities have been issued, sold and
delivered in the manner and for the consideration stated in the applicable
definitive purchase, underwriting or similar agreement approved by the Board,
upon payment of the consideration therefor provided for therein, or upon
conversion or exercise of any other Security in accordance with the terms of
such Security or the instrument governing such Security providing for such
conversion, exchange or exercise as approved by the Board, and the Indenture,
the Debt Securities to be issued under the Indenture will be legal, valid and
binding obligations of the Company, enforceable against the Company in
accordance with their terms.

     2.   With respect to shares of Preferred Stock, when (a) the Board has
taken all necessary corporate action to approve the issuance and terms of the
shares of Preferred Stock, the terms of the offering thereof, and related
matters, including the adoption of a resolution relating to the designations,
preferences, limitations and relative rights of such Preferred Stock (a
"Resolution"), (b) the Resolution has been filed with the Secretary of State of
the State of Texas and (c) certificates representing the shares of Preferred
Stock have been duly executed, countersigned, registered and delivered either
(i) in accordance with the applicable definitive purchase, underwriting or
similar agreement approved by the Board upon payment of the consideration
therefor (not less than the par value of the Preferred Stock) provided for
therein or (ii) upon conversion or exercise of such Security or the instrument
governing such Security providing for such conversion or exercise as approved by
the Board, for the consideration
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AmeriCredit Corp.
January 29, 2001
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approved by the Board (not less than the par value of the Preferred Stock), then
the shares of Preferred Stock will be validly issued, fully paid and
nonassessable.

     3.   With respect to shares of Common Stock, when both (a) the Board has
taken all necessary corporate action to approve the issuance of and the terms of
the offering of the shares of Common Stock and related matters and (b)
certificates representing the shares of Common Stock have been duly executed,
countersigned, registered and delivered either (i) in accordance with the
applicable definitive purchase, underwriting or similar agreement approved by
the Board upon payment of the consideration therefor (not less than the par
value of the Common Stock) provided for therein or (ii) upon conversion or
exercise of any other Security, in accordance with the terms of such Security or
the instrument governing such Security providing for such conversion or exercise
as approved by the Board, for the consideration approved by the Board (not less
than the par value of the Common Stock), then the shares of Common Stock will be
validly issued, fully paid and nonassessable.

     4.   With respect to the Depositary Shares, when (a) one or more agreements
(incorporating the form of deposit agreement and related form of depositary
receipt (the "Depositary Receipt") filed as Exhibit 4.5 to the Registration
Statement, or such other provisions as are contained in a document that will be
filed as an exhibit to or incorporated by reference in the Registration
Statement) relating to the Depositary Shares and the related Depositary Receipts
(the "Deposit Agreement") have been duly authorized and validly executed and
delivered by the Company and the depositary appointed by the Company, (b) the
Board has taken all necessary corporate action to approve the issuance and terms
of the Depositary Shares, the terms of the offering thereof, and related
matters, including the adoption of a Resolution, (c) the Resolution has been
filed with the Secretary of State of the State of Texas, (d) the shares of
Preferred Stock underlying such Depositary Shares have been deposited with a
bank or trust company that meets the requirements for the depositary set forth
in the Registration Statement under the applicable Deposit Agreement and (e) the
Depositary Receipts representing the Depositary Shares have been duly executed,
authenticated, countersigned, registered and issued, sold and delivered in the
manner and for the consideration stated in the applicable Deposit Agreement and
the applicable definitive purchase, underwriting or similar agreement approved
by the Board, upon payment of the consideration therefor provided for therein,
the Depositary Shares will be duly authorized, validly issued, fully paid and
nonassessable.
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AmeriCredit Corp.
January 29, 2001
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     5.   With respect to the Debt Warrants, when (a) one or more agreements
(incorporating the form of Warrant Agreement to be filed as Exhibit 4.6 to the
Registration Statement or such other provisions as are contained in a document
that will be filed as an exhibit to or incorporated by reference in the
Registration Statement) have been duly executed and delivered by the Company and
a warrant agent, (b) the Board has taken all necessary corporate action to
approve the terms of the Debt Warrants, (c) the Debt Warrant certificates have
been executed and authenticated in accordance with the terms of the appropriate
agreement and (d) the Debt Warrants have been issued, sold and delivered in the
manner and for the consideration stated in the applicable definitive purchase,
underwriting or similar agreement approved by the Board, upon payment of the
consideration therefor provided for therein, the Debt Warrants will be legal,
valid and binding obligations of the Company, enforceable against the Company in
accordance with their terms.

     6.   With respect to the Equity Warrants, when (a) the Board has taken all
necessary corporate action to approve the creation of and the issuance and terms
of the Equity Warrants, the terms of the offering thereof, and related matters,
including, in the case of Warrants to purchase Preferred Stock, the adoption of
a Resolution which has been filed with the Secretary of State of the State of
Texas, (b) the Warrant Agreement or agreements relating to the Equity Warrants
have been duly authorized and validly executed and delivered by the Company and
the warrant agent appointed by the Company and (c) the Equity Warrants or
certificates representing the Equity Warrants have been duly executed,
countersigned, registered and delivered in accordance with the appropriate
Warrant Agreement or agreements and the applicable definitive purchase,
underwriting or similar agreement approved by the Board upon payment of the
consideration therefor provided for therein, the Equity Warrants will be validly
issued.

     7.   When executed and delivered by or on behalf of the Guarantors, the
Subsidiary Guarantees will constitute valid and binding obligations of the
Guarantors, enforceable against the Guarantors in accordance with their terms.

     8.   When the Preferred Securities Guarantee has been duly authorized by
all requisite corporate action and qualified under the Trust Indenture Act, duly
executed as specified in the form of Preferred Securities Guarantee Agreement
filed as Exhibit 4.11 to the Registration Statement and delivered in the manner
described in the Registration Statement, the Preferred Securities Guarantee will
constitute the valid and binding obligation of the Company, enforceable against
the Company in accordance with its terms.
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AmeriCredit Corp.
January 29, 2001
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     9.   When (a) the Debenture Indenture has been duly qualified under the
Trust Indenture Act, (b) the Board has taken all necessary corporate action to
approve the issuance and terms of any Trust Debentures, (c) the terms of the
Trust Debentures and of their issuance and sale have been duly established in
conformity with the Debenture Indenture so as not to violate any applicable law
or result in a default under or breach of any agreement or instrument binding
upon the Company and so as to comply with any requirements or restrictions
imposed by any court or governmental body having jurisdiction over the Company,
and (d) the Trust Debentures have been duly executed and authenticated in
accordance with the Debenture Indenture and issued as contemplated in the
Registration Statement, the Trust Debentures will constitute valid and legally
binding obligations of the Company.

     The opinions rendered in paragraphs 1, 4, 5, 6, 7, 8 and 9 above relating
to the enforceability of the operative documents, or any provision thereof, are
subject to the following exceptions, limitations and qualifications: (i) the
effect of bankruptcy, insolvency, reorganization, moratorium, fraudulent
conveyance or other similar laws now or hereafter in effect relating to or
affecting the rights and remedies of creditors generally; (ii) the effect of
general principles of equity, whether enforcement is considered in a proceeding
in equity or at law, and the discretion of the court before which any proceeding
therefor may be brought; and (iii) we express no opinion concerning the
enforceability of any waivers of rights or defenses or indemnification
provisions of the Indenture where such waivers or provisions are contrary to
public policy.

     To the extent that the obligations of the Company, the Trust, and the
Guarantors under the Debenture Indenture may be dependent upon such matters, we
assume for purposes of this opinion that the Trustee is duly organized, validly
existing and in good standing under the laws of its jurisdiction of
organization; that the Trustee is duly qualified to engage in the activities
contemplated by the Debenture Indenture; that the Debenture Indenture has been
duly authorized, executed and delivered by the Trustee and constitutes the
legally valid and binding obligation of the Trustee, enforceable against the
Trustee in accordance with its terms; that the Trustee is in compliance,
generally and with respect to acting as a trustee under the Debenture Indenture,
with all applicable laws and regulations; and that the Trustee has the requisite
organizational and legal power and authority to perform its obligations under
the Debenture Indenture.

     We hereby consent to the filing of this opinion as Exhibit 5.1 to the
Registration Statement and to the use of our name under the caption "Legal
Matters" in the Registration Statement and in the Prospectus included therein.
In giving such consent, we do not admit that we come within
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AmeriCredit Corp.
January 29, 2001
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the category of persons whose consent is required by Section 7 of the Act or the
rules and regulations of the Securities and Exchange Commission thereunder.


                              Very truly yours,

                              JENKENS & GILCHRIST,
                              A Professional Corporation


                              -------------------------------
                              By:  L. Steven Leshin