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auto financing

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    Report: Ally to pay $98M to settle ethnicity-based discriminatory lending practice probe
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    Ally Financial has agreed to pay a $98-million fine to settle an investigation into unfair lending practices overseen by the Justice Department and the Consumer Financial Protection Bureau (CFPB). In an investigation of lending practices in the year after April 2011, the government agencies ...

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    Report: Chrysler sales growth fueled by subprime loans?
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    Automotive News reports Chrysler owes some of its recent sales success to a resurgence of subprime loans. Chrysler has a history of working with customers burdened with questionable finance histories, and lenders have begun to loosen credit restrictions. As a result, 29 out of every 100 auto ...

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    Report: Toronto-Dominion Bank may buy Chrysler Financial from Cerberus by week's end
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    According to Bloomberg, Chrysler Financial may have a new owner in the near future. Canada's Toronto-Dominion Bank may be set to make a deal with Cerberus Capital Management, which still owns the Pentastar's loan arm despite stepping away from its role as owners of Chrysler's carmaking operations. ...

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    Report: GM's planned purchase of AmeriCredit questioned by senator
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    We've decided to stop trying to guess what General Motors will do before its IPO – which might come next month or later this year or early next year. What we do know is that GM has wanted to secure a captive finance arm before an IPO, a process that looked unlikely, then fell off the radar ...

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    BREAKING: GM to buy AmeriCredit Corp for $3.5B
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    General Motors has just announced its intent to acquire AmeriCredit Corp. According to the automaker, the move should give dealers an added finance option when it comes to putting car shoppers into a new vehicle. Since GM and GMAC parted ways back in 2006, buyers looking to purchase a car or truck ...

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    NADA opposes Senate's financial reform bill
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    Congress is working on reforming financial oversight in the wake of the sub-prime mortgage meltdown, and if the House and Senate come together on a compromise bill, a new Bureau of Consumer Financial Protection will be created. The House's bill exempted auto dealers from more strict lending ...

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    GM seeking more subprime buyers?
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    In a word, yes. The Detroit News reports that General Motors is looking to find a way to tap into the subprime lending market that accounts for 16 percent of the overall car-buying market. There is, after all, plenty of pressure to sell more vehicles to enhance the company's value leading up to ...

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    How Thoughtful: Lamborghini offering 0% financing on new Murciélago LP640 models
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    Lamborghini Murciélago LP640 – Click above for high-res image gallery
    A Lamborghini Murciélago LP640 starts at around $350,000 and can quickly crest $400,000 with the addition of a few options and a dropable top, and the LP640-4 starts at $450,000. That's a lot of coin to be ...

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    Chrysler announces "Double CA$H For Your Old Car" promotion
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    2009 Dodge Journey R/T – Click above for high-res image gallery
    With Cash for Clunkers slated to go live on July 23, every automaker appears primed to grab a piece of the action. Chrysler is no different, and its new "Double CA$H For Your Old Car" incentive program promises up to match the ...

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    Keep the receipt: Hyundai buyers can take back the car if laid off
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    If you need a new car but your job at the First National Bank of the City Federal isn't exactly guaranteed, Hyundai has an offer just for you.The Hyundai Assurance Program gives buyers some peace of mind that if they lose their jobs during their first year of ownership, they won't have to pay back ...

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