Ally Financial (ALLY) S-3ASR Automatic shelf registration

Exhibit 12

Ratio of Earnings to Fixed Charges

	Nine Months Ended September 30,				Year Ended,
($ in millions)	2008		2007		2007		2006			2005			2004			2003
Earnings
Consolidated net (loss) income	(5,594	)	($1,608	)	($2,332	)	$	2,125		$	2,282		$	2,894		$	2,506
Income tax expense	94		241		390			103			1,197			1,362			1,364
Equity-method investee distribution	65		42		65			651			283			259			73
Equity-method investee loss (earnings)	62		(80	)	5			(512	)		(142	)		(169	)		(48	)
Minority interest expense	2		1		2			(9	)		(57	)		2			55
Consolidated (loss) income before income taxes, minority interest and income or loss from equity investees	(5,371	)	(1,404	)	(1,870	)		2,358			3,563			4,348			3,950
Fixed charges	8,974		11,225		14,966			15,655			12,754			9,682			7,809
Earnings available for fixed charges	3,603		9,821		13,096			18,013			16,317			14,030			11,759
Fixed Charges
Interest, discount, and issuance expense on debt	8,922		11,163		14,887			15,560			12,654			9,598			7,729
Portion of rentals representative of the interest factor	52		62		79			95			100			84			80
Total fixed charges	8,974		11,225		14,966			15,655			12,754			9,682			7,809
Ratio of earnings to fixed charges (a)	0.40		0.87		0.88			1.15			1.28			1.45			1.51

(a) The ratio calculation indicates a less than one-to-one coverage for various periods indicated, which means earnings available for fixed charges for those periods were inadequate to cover total fixed charges.

The deficiencies were: $5.371 billion for the nine months ended September 30, 2008; $1.404 billion for the nine months ended September 30, 2007; and $1.870 billion for the year ended 2007.