Cars
Adding to the gloomy economic atmosphere, GMAC, General Motors' consumer financial arm announced on Monday that is implementing a tighter policy for auto loans. The changes include limiting purchases to vehicle buyers with a credit score of 700 or above while the company will also restrict contracts with higher advance rates and longer terms. GMAC officials attributed the more conservative purchase policy for consumer auto loans to the lack of stability in the global capital and credit markets. -Continued
- Gm, Chrysler Bail Out Cost The Us Government $9.26 Billion
...
- New Study Says That Every Gm Vehicle Sold In The States Costs Taxpayers $12,200 - In Theory...
It's 'bailout talk' time again as a new study that was conducted by Thomas D. Hopkins, a Professor of Economics at Rochester Institute of Technology, for the 362,000-member strong National Taxpayers Union (NTU), finds that the American taxpayer...
- Usa: Car Loans That Are 60 Days Overdue Rise 17% In Q4 2008
If you had any reasons to doubt that many U.S. consumers are finding it more and more difficult to pay off their car loans, just take a look at the latest figures released today by Experian Automotive, a global information services company. According...
- Gm Offers New Loans As Low As 0% To Revive Sales
Strengthened by a $6 billion federal bailout, General Motors financing arm GMAC LLC, has not only resumed lending to customers with low credit scores in the U.S., but has also announced new reduced rate financing for up to 60 months on select cars and...
- Ford, Gm And Chrysler Seek $6.8 Billion Government Loan From Canada
Having already appealed to the U.S. Congress for an emergency bailout, Detroit's Big Three are now stretching their hands across the border to Canada seeking billions of dollars in loans and credit lines. Ford Motor Company delivered its plan to the...
Cars
GM's Financial Arm GMAC Tightens New Car Loans
Adding to the gloomy economic atmosphere, GMAC, General Motors' consumer financial arm announced on Monday that is implementing a tighter policy for auto loans. The changes include limiting purchases to vehicle buyers with a credit score of 700 or above while the company will also restrict contracts with higher advance rates and longer terms. GMAC officials attributed the more conservative purchase policy for consumer auto loans to the lack of stability in the global capital and credit markets. -Continued"These changes in pricing and underwriting are related to the current market environment, which has reduced access to funds and increased the cost of funds. The company currently expects these actions to remain in place until the credit markets stabilize and accessibility improves," said GMAC in an official statement.
Notably, last week GMAC also raised by 0.75 percentage points the rate it charges dealers for providing loans to consumers for vehicles that aren't part of any special incentive programs.
- Gm, Chrysler Bail Out Cost The Us Government $9.26 Billion
...
- New Study Says That Every Gm Vehicle Sold In The States Costs Taxpayers $12,200 - In Theory...
It's 'bailout talk' time again as a new study that was conducted by Thomas D. Hopkins, a Professor of Economics at Rochester Institute of Technology, for the 362,000-member strong National Taxpayers Union (NTU), finds that the American taxpayer...
- Usa: Car Loans That Are 60 Days Overdue Rise 17% In Q4 2008
If you had any reasons to doubt that many U.S. consumers are finding it more and more difficult to pay off their car loans, just take a look at the latest figures released today by Experian Automotive, a global information services company. According...
- Gm Offers New Loans As Low As 0% To Revive Sales
Strengthened by a $6 billion federal bailout, General Motors financing arm GMAC LLC, has not only resumed lending to customers with low credit scores in the U.S., but has also announced new reduced rate financing for up to 60 months on select cars and...
- Ford, Gm And Chrysler Seek $6.8 Billion Government Loan From Canada
Having already appealed to the U.S. Congress for an emergency bailout, Detroit's Big Three are now stretching their hands across the border to Canada seeking billions of dollars in loans and credit lines. Ford Motor Company delivered its plan to the...