It wasn’t too long ago that if you purchased a new car, you often found yourself financing that purchase with a financial arm of the manufacturer. For example, if you bought a General Motors (NYSE GM) product, you financed it through their financing arm, GMAC (NYSE GMA). Same with a Ford (NYSE F) or a Chrysler product.

Each manufacturer made additional money on car sales by offering car financing. Right or wrong, the system worked for the car makers, as well as the buying public.

This is all about to change. Big brother is about to take over not only the making of your next new car, but its financing as well. You and I are about to become major owners in the auto financing industry. GMAC LLC, the money-burning auto and mortgage lender, will likely join Fannie Mae (NYSE FNM), Freddie Mac (NYSE FRE), American International Group (NYSE AIG) and Citigroup (NYSE C) in your investment portfolio.

By the time all the checks have cleared, you may have sunk upward of $20 billion into this former ward of General Motors, an amount equivalent to $210,000 for each of the nation’s public schools. A central clearinghouse for auto financing added to your financial resume. Impressive.

One of the main tenants of capitalism is competition. When multiple products vie against each other in an open marketplace, we, the consumer, benefit. Prices are kept low, services often improve, and creative options become more common place.

With both General Motors and Chrysler products apparently on their way to being financed by the U.S. Government via GMAC, what does this mean to Ford Credit? As we know, Ford is the only member of the big three automakers to remain free of government intervention. Does this place Ford into an unfair position, having to compete with the force of the government to remain competitive?

Imagine this scenario: you’ve decided that you want to buy the latest fuel efficient Ford: the Fusion. You drive down to your Ford dealer, pick out a model, and negotiate a price. You’re all ready to take home the car of your dreams.

But wait, there’s a catch. Your financing through Ford Credit is going to be more than you thought. So you drive down to the Chevy dealer and try out their Cobalt. Nice car, same price. Everything being equal, you still like the Ford Fusion. Then your Chevy dealer presents you with the financing available through GMAC. $40 bucks less per month. “How can this be?” you ask. Your salesman tells you that with preferred rates offered through government financing, Chevrolet can beat any financing offered by Ford.

Can never happen?… I wouldn’t be so sure. The investment by the government can very well mean that this government-sanctioned company, GMAC, may well have an unfair funding advantage against Ford Motor’s Ford Motor Credit. Would it be willing to do the politically unpalatable work of cutting credit to certain car dealers? What happens if Congress decides to stimulate the automotive segment of the economy by mandating low-cost auto loans?

Pay attention, if not - your automotive choices may be substantially reduced…dictated by governmental agendas.