Car Loan

Think of it as an extended test drive.

The sales pitch goes something like this on the showroom floor: A car salesman makes an enticing promise. "We'll pay off your car loan, no mater how much you owe!" Or "upside down on your current loan? We'll pay off your trade."

If the mainstream media has reported on the U.S. Department of Energy's (DOE) loan guarantees for advanced technologies, it's been about the controversy. Solyndra! But here's the news you probably haven't heard: the federal government loan guarantees will cost the American public about 46 percent less than originally estimated because many of the green tech companies are paying back the loans quicker than expected, according to one report.

Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

Carbon Motors, maker of the purpose-built E7 police car, won't receive the $310 million in U.S. Department of Energy (DOE) loans under the Advanced Technology Vehicle Manufacturing (ATVM) program that it applied for almost three years ago, and said that it's a victim of politics.

Hiccup or death knell?

The Detroit News reports Chrysler is walking away from the company's pursuit of low-interest Department of Energy loans. The automaker originally applied for an $8.55 billion loan when it was still under Cerberus Capital Management, though the figure had since shrunk to $3.5 billion. The DOE, meanwhile, said i

This isn't good. The Associated Press is reporting that Fisker Automotive has stopped production of the Fisker Karma (UPDATE: Not true, says Fisker PR: "We are currently producing 20-25 Karmas a day and will continue to do so.") and laid off 26 Delaware employees and 40 contractors in California. The carmaker is reportedly

This isn't good. The Associated Press is reporting that Fisker Automotive has stopped production of the Fisker Karma (*UPDATE: Not true, says Fisker PR: "We are currently producing 20-25 Karmas a day and will continue to do so.") and laid off 26 Delaware employees and 40 contractors in California. The carmaker is reportedly

Despite reports to the contrary, Tesla Motors won't ask the U.S. Department of Energy for an additional Advanced Technology Vehicles Manufacturing (ATVM) loan, according to the automaker's chief executive officer.

Early this morning, the U.S. House of Representatives voted to approve (291-in-favor, 27-against) a stopgap funding bill that cuts $1.5 billion from the Department of Energy's Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.

We've all been there: uttering words you almost immediately regret. You feel like an absolute idiot. But the next time that kind of situation comes up – and come up it will – know that you're not alone. Because Sergio Marchionne has had a bit of backtracking to do himself.

Congratulations. You've successfully negotiated the purchase price of your new or used car or truck. You've made a great deal. Next you're ushered into the dealership's "Business Office" - also known as the "F&I Office" for "Finance and Insurance". You're introduced to the Business Manager, a pleasant well-groomed woman (or man) who congratulates you on your purchase. She reassures you that yo

Car buyers need to be on their toes to get the best possible auto financing this year. This was no simple proposition even back in the era of easy credit, and with financial institutions still suffering the hangover of the global financial meltdown, it will pay – literally – to do your homework. Shaving a single percentage point off the loan for an average car today, you could easily s

It's one of the best-kept secrets of the car business: 0% car financing, one of the largest discounts a consumer could hope for in an entire lifetime of conspicuous consumption, remains stubbornly beyond the reach of most car buyers. The number of 0% deals has soared this year as domestic, Asian and European car makers strive mightily to breathe life into their U.S. car sales. It is not unus

You don't have to be a pollster to know that for the most part, the American public remains none too happy about the federal government handing over the people's hard-earned tax dollars to pull General Motors and Chrysler out of the fires of insolvency. Despite the fact that both companies have managed to keep their lights on, doors open and paychecks flowing due to their generous fed

Chrysler Financial hasn't been doing a whole lot since the domestic automotive implosion of aught-nine. When the Obama Administration's Automotive Task Force found that the lender didn't have the wherewithal to continue making large loans to dealers, GMAC was forced to take over lending duties f

In a time of tight household budgets, consumers are finding they can improve their monthly balance sheets with a little known type of loan: Refinancing an auto purchase. With interest rates still low and loan money starting to flow again, it is possible to say goodbye and good riddance to high interest rates in your original contract. In some cases, this can deliver hundreds of dollars a year in s

This morning, General Motors Chairman and CEO Ed Whitacre confirmed that the company has paid back a total of $5.8 billion in federal loans a full five years ahead of schedule. Whitacre attributed the company's ability to make the payment, with interest, to its new strategy and the success of new models like the Buick Lacrosse and Chevrole