Financing


Porsche loan request rejected by Germany's state bank

Porsche is profitable and it owns a big chunk of the far larger Volkswagen, yet cash seems to be in short supply. Automotive News is reporting that the world-renowned luxury sports car maker's 1.75 billion euro ($2.45 billion USD) loan request from German state bank KFW has been rejected, leaving Porsche to search elsewhere for funding. Porsche secured 10.75 billion euros ($15.1B) in financing from banks in March to feed its 9 billion euro debt ($12.6B) mountain, but it's looking for alternative means for financing its cash crunch. Porsche has ... Read more →

REPORT: Ford offering dealerships for $1 Jonathon Ramsey

Ford's dealer development program works to help people become dealer principles who might not otherwise have the chance. The 64 members of the program, most of them black or Hispanic, are set up with ...

GMAC resumes subprime lending Chris Shunk

GMAC has loosened the purse strings, with General Motors' finance arm allocating $6 billion for auto loans for the next 60 days. The 60 day mark is critical to GM, as it is the government's drop-dead ...

Polk speculates about effect of government incentives on 2009 car sales Jonathon Ramsey

In light of the automaker benefits and car buyer assistance in the recently-passed stimulus package, analysts at R. L. Polk & Co. estimate there will be an average rebate of $330 for every ...

REPORT: French government calls for auto execs to forego bonuses Jonathon Ramsey

The French government has put €6 billion ($7.79 billion USD) on the table for car companies. And as part of the effort to make sure that every drop of the money goes toward maximizing performance ...

REPORT: Dealers say bailout hasn't made for more GMAC loans 11 months ago on Autoblog

Show me the money. With apologies to Cuba Gooding Jr., that is exactly what many General Motors dealers are saying to GMAC Financial Services. Despite being given $5 billion from the U.S. Government last month, GMAC apparently hasn't loosened its purse strings enough for dealers' likings. Some, in ...

Not Saved By Zero: Toyota looking to ramp up rebates 11 months ago on Autoblog

Remember that horrible "Saved by Zero" campaign (no, not that one) that Toyota ran late last year? Besides producing some of the worst commercials the world has ever seen, it was a failure when it came to its singular goal of selling more cars and trucks. Toyota was the only automaker in the top ...

Does Washington's GMAC bailout hurt Ford? 11 months ago on Autoblog

The Wall Street Journal puts forth the case that the government's $5 billion lifeline to GMAC has given GMAC a competitive advantage compared to its rivals. After the taxpayer cash was received, GMAC dropped the required credit score to get a loan and began offering 0% financing on several models, ...

Fed grants GMAC bank holding status 1 year ago on Autoblog

GMAC – and ergo General Motors – just got another Christmas present: the Federal Reserve has granted GMAC bank holding status. GMAC has billions of dollars of bonds coming due over the next 12 months, but doesn't have the liquidity to cover the obligations. As of last week, the financing ...

GMAC rushes to conclude bond buyback and avoid bankruptcy 1 year ago on Autoblog

GM doesn't just have its eye on auto bailout funds -- its GMAC division (of which it owns 49%) is looking for cash from among the $700 billion pledged in the Wall Street bailout. Through the end of next year, GMAC has roughly $12 billion in bonds maturing. But to have any chance at getting Wall ...

Tesla secures $40 million in financing 1 year ago on Autoblog

Despite recent negative news surrounding Tesla Motors, the all-electric automaker has just secured $40 million in financing to move forward with ramping up production of its battery-powered sports car, the Tesla Roadster. It was just last month when Tesla was unable to secure a $100 million ...

GM launches new campaign to ease credit worries 1 year ago on Autoblog

After announcing earlier this week that GMAC would only finance customers who hold credit scores higher than 700, General Motors has decided it would be prudent to reassure consumers that they are still in the business of securing loans and selling vehicles. Starting Friday, GM will launch a ...

Get your 2009 Dodge Rams with zero-percent financing 1 year ago on Autoblog

UPDATE: We've been informed that the 0% financing for 72 months offer is only available for the 2008 Dodge Ram. Financing details for the 2009 Dodge Ram will be announced at a later date. The 2009 Dodge Ram appears to be a top-notch competitor in the light truck market, but that won't keep the ...

GM intros incentives for full-size trucks 2 years ago on Autoblog

This is possibly the least shocking news of the day when you consider that the housing market, which fuels the full-size pickup segment, is in a slump and gas prices are rising once again. Nevertheless, General Motors must respond to market pressures, and in the wake of Silverado sales that fell 7% ...

March Madness: GM brings back 0% financing and cash rebates 2 years ago on Autoblog

General Motors has decided to bring back 0% and reduced-rate financing on many of its models to save its sales efforts for March. No doubt the General is keen on putting up positive numbers for the month to compliment the other bits of good news that have signaled its turnaround may have turned the ...

Toyota puts first incentives on the Prius 2 years ago on Autoblog

Though not many noticed, Toyota employed the use of incentives to increase sales of its Prius hybrid for the first time ever in January. The incentives varied around the country and included low lease payments, cheap financing and cash back to dealers for each unit sold. Automotive News reports ...

Riding out the storm: Ford applies for $18 billion restructuring package 3 years ago on Autoblog

Ford announced today that it plans to acquire a financing package worth a heady $18 billion. The extra money will ensure that Ford survives the next couple of years while Alan Mulally and company attempt to turn the automaker around and bring profits back to the Blue Oval. Automotive News reports ...

Bad Credit? No Credit? Chrysler doesn't care either 3 years ago on Autoblog

Anything you can do, I can do better... so sang Bingo and so says DaimlerChrysler to Ford. In the battle for customers, Ford had extended its 0% financing deal to sub-prime candidates for the first time last month. Now Chrysler is doing the same for those clamoring for a Commander. Zero-percent ...

Chrysler turns to 0% financing as Employee Pricing ends 3 years ago on Autoblog

Chrysler summer-long Employee Pricing incentive ends today and is being replaced by a good old fashion Zero Percent Financing deal. The new deal applies to all 2006 models, which means Chrysler is eager to reduce the inventory of its dealers to make room for a flood of new products it plans on ...

Chrysler kicks off Employee Pricing Plus with 30-day guarantee and 0% financing 3 years ago on Autoblog

Today the Chrysler Group announced that all customers would be eligible for employee pricing on qualifying 2006 and select 2005 model year Chrysler, Jeep and Dodge vehicles as of July 1st. The Employee Pricing Plus program also offers customers zero percent financing for 36 months on most models ...

June sales not so hot 3 years ago on Autoblog

General Motors is expected to take the biggest hit in June, though last year's numbers are skewed a bit due to a certain fire sale. Gas prices are reportedly the biggest culprit, spurring consumers to buy Japanese and turning Toyota and Honda into big winners -- in fact, Toyota expects to be up ...

GM announces 0% financing for 72 months on most models 3 years ago on Autoblog

The summer sales drive has begun and General Motors has made the first move. As we reported last week, GM has confirmed that beginning June 29th and lasting only for 72 hours, it will offer 0% financing on most of its vehicles for up to six years, which also happens to be 72 months. Most Chevy, ...

Ford announces zero-percent financing on Escape/Mariner hybrids 3 years ago on Autoblog

Ford Motor Company announced Thursday that it is rolling out a zero-percent financing incentive program for its Escape and Mariner Hybrids. The plan offers zero-percent financing for 60 months, or a $500 down payment-matching cash incentive. Ford launched the program in ...






Autoblog Podcast #158: 'Twas a couple nights before Christmas...

Chris, Editor Paukert, and Dan send the Podcast off for the Christmas holiday in proper fashion

 
 

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