General Motors has repaid all the loans it received from the U.S. and Canadian governments -- five years ahead of schedule.

The auto giant received $8.1 billion in loans in 2009.

Wednesday, GM also announced plans to invest $257 million its Detroit-Hamtramck Plant and Fairfax Assembly Plant in Kansas City.

The U.S. also gave GM more than $43 billion in exchange for a share of the company. GM says now the goal is repaying that dept.

The U.S. currently owns 61 percent of General Motors and recent stats show that may be a good investment.

For years Americans have preferred foreign made cars, but that trend is over.

A recent poll shows 38 percent of Americans say U.S. made cars are the best, while 33 percent prefer Asian made vehicles.

That's down from 46 percent who preferred Asian cars in 2006.