EXHIBIT 5

November 7, 2003

American General Finance Corporation
601 N.W. Second Street
Evansville, Indiana 47708

Ladies and Gentlemen:

This opinion is furnished in connection with the proposed issuance and sale by
American General Finance Corporation, an Indiana corporation (the "Company"), of
up to $7,500,000,000 aggregate principal amount of its debt securities (the
"Debt Securities") pursuant to:

         (a) The Company's Registration Statement on Form S-3 relating to the
Debt Securities (the "Registration Statement"); and

         (b) The Indenture, dated as of May 1, 1999, between the Company and
Citibank, N.A. ("Citibank"), as Trustee, pursuant to which the Debt Securities
are to be issued (the "Indenture").

         I am Senior Vice President, General Counsel and Secretary of the
Company, and am familiar with and have examined, either personally or through
attorneys under my supervision, direction and control, originals or copies
certified to my satisfaction, of the Registration Statement, the Indenture, the
Restated Articles of Incorporation and bylaws of the Company and such other
corporate records, certificates of corporate officials as to certain matters of
fact, and instruments and documents as I have deemed necessary or advisable as a
basis for the opinions set forth herein.

         In such examination, I have assumed the genuineness of all signatures
(other than the signatures of persons signing on behalf of the Company), the
authenticity and completeness of all documents, certificates, instruments and
records submitted as originals and the conformity to the original instruments of
all documents submitted as copies, and the authenticity and completeness of the
originals of such copies. In addition, in rendering this opinion, as to certain
matters of fact, I have relied solely upon certificates of officers of the
Company and certificates or telegrams of public officials, without any
independent investigation of such matters.



Based upon the foregoing, I am of the opinion that:

         1.       The Company is existing as a corporation under the laws of the
                  State of Indiana.

         2.       When the issuance of a Debt Security has been duly authorized
                  by all necessary corporate action of the Company as
                  contemplated by the Indenture, subject to the terms of such
                  Debt Security being otherwise in compliance with then
                  applicable law, and when such Debt Security has been duly
                  executed, authenticated, sold and delivered in the form
                  approved pursuant to and in accordance with the terms of the
                  Indenture and as described in the Registration Statement,
                  which Registration Statement shall have become effective, the
                  supplement or supplements to the Prospectus constituting a
                  part thereof and, if applicable, such agreement or agreements
                  as may have been duly authorized and executed in connection
                  with the sale of such Debt Security, such Debt Security will
                  be a valid and binding obligation of the Company, enforceable
                  against the Company in accordance with its terms, except that
                  (a) enforcement thereof may be limited by bankruptcy,
                  insolvency, fraudulent conveyance, reorganization, moratorium
                  or other laws of general applicability relating to or
                  affecting enforcement of creditors' rights or by general
                  equity principles and (b) the remedy of specific performance
                  and injunctive and other forms of equitable relief may be
                  subject to equitable defenses and to the discretion of the
                  court before which any proceeding therefor may be brought. To
                  the extent that the obligations of the Company under such Debt
                  Security may be dependent upon such matters, I assume for
                  purposes of this opinion that Citibank is a national banking
                  association at all times duly incorporated, validly existing
                  and in good standing under the laws of the jurisdiction of its
                  incorporation with full power and authority to enter into and
                  perform its obligations under the Indenture, and the
                  Indenture, at the time of the issuance and sale of such Debt
                  Security, will constitute the valid and legally binding
                  obligation of Citibank, enforceable against Citibank in
                  accordance with its terms.

         The laws covered by the opinions expressed herein are limited to the
laws of the State of Indiana and, with respect to the opinions expressed in
paragraph 2 above, the laws of the State of New York.

         I consent to the filing of this opinion as an exhibit to the
Registration Statement and to the reference to me under the heading "Legal
Opinions" in the prospectus included in the Registration Statement. In giving
such consent, I do not admit that I come within the category of persons whose
consent is required under Section 7 of the Securities Act of 1933, as amended,
or the rules or regulations of the Securities and Exchange Commission
thereunder.



         This opinion is for the sole benefit of the addressee and, without my
express prior written consent, may not be relied upon by any other person.

Very truly yours,

/s/ Timothy M. Hayes

Timothy M. Hayes
Senior Vice President, General
Counsel and Secretary