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5Auto Loan Defaults Higher During Recovery Than Recession

Delinquency rates have nearly doubled since 2010

More subprime borrowers defaulted on their car loans in the years following the Great Recession than during or before the crash.

AddTesla's new $408 per month business lease deal for Model S reminds us of last 'revolutionay' deal

Almost exactly a year ago, Tesla Motors announced what it called a "revolutionary" lease deal for the Model S. Since the electric automaker used some unusual assumptions in its calculations to get to a headline-worthy $500-a-month "true cost of ownership," the company had to quickly change its tune. Some of the same assumptions are back in a business lease deal from new subsidiary, Tesla Finance, for $408 a month (sort of) that was announced today.

7ChargePoint now offering financing for business charging stations

Anyone not satisfied with merely having a mortgage and a car payment, now you can have a payment plan on your plug-in vehicle charging station, too. Granted, this is more for business owners looking to provide publicly available charging stations, but ChargePoint (née Coulomb Technologies) is setting up a financing program for anyone looking to take the plunge.

16Tesla's vehicle buyback program could yield $368m profit in 2016

Good news, everyone. If we can manage set aside about $37,000 over the next couple of years, a Tesla Model S, a used one, will be ours. That's one of the findings in a Bloomberg Industries study on Tesla's financing, vehicle buyback and resale programs. With the typically unconventional Tesla Motors eschewing the traditional lease program and guaranteeing to buy back used Model S vehicles at a pre-set price, the company could generate $368 million in revenue from used vehicle sales in 2016, Bloo

32US car loans reach six-year high

US auto loans are at their highest level since before the start of the great recession, according to a report from Automotive News. Originations increased 11 percent during the second quarter of 2013, to a combined $91.8 billion for all credit tiers, while overall sales were up nine percent overall.

162More car buyers favoring longer term loans, up to 10 years [w/poll]

The length of car loans in the US keeps on growing as more and more consumers look for ways to save money every month to pay off obligations and necessities. Extremely low interest rates and more durable automobiles have become key factors in driving these new longer-term car loans, which can last anywhere from six to 10 years.

2Tesla Unveils Lease-To-Own Financing Program: AOL Autos

Tesla Motors announced Tuesday that it's unveiling a lease-to-own program that could bring the cost of ownership, for some buyers, to less than $500 a month.

42Volvo buyers have best credit scores among all auto shoppers

Experian, the US credit reporting agency, recently concluded a study into the financing and credit scores of US car buyers. One of the prime findings was that Volvo buyers enjoy the strongest credit scores among new car shoppers from all brands (nota bene, these are Experian's own numbers and can differ from other agencies). Unlike the Forbes report on the same story, though, we don't find that surprising at all, nor do we think it necessarily helps Volvo's upscale brand aspirations. The Gothenb

36Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.

9General Motors buys Ally Financial foreign operations

In a move that welcomes former pieces of General Motors back into the fold, GM Financial has reached a deal with Ally Financial, formerly GMAC, to buy a piece of the company's international operations. The $4.2 billion deal is for Ally's Latin America, Europe and China operations.

57Chrysler sales growth fueled by subprime loans?

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 loans for new Chrysler models went to buyers with a credit score under 680 in the first quarter of this year. Experian Automotive classifies loans tied to that credit score as subprime. What's more, nearly 2

31Brammo reaches deal with Sheffield Financial to offer customer financing

It looks like electric-motorcycle company Brammo just found a way for potential customers to get access to some of the juice.

21Report: GM decides not to create its own finance unit, will investigate teaming with banks

Another piece of General Motors' IPO puzzle has been solved: in spite of CEO Ed Whitacre's desire to add a captive finance arm to GM's operations, the company looks set to go without. Acquiring in-house financing always stuck out in Whitacre's aggressive battle plan for getting an IPO done later this year and the hurdles of getting back in with GMAC required untangling enough knots to make King Gordius say, "Skip it..."

46GM offering 0% financing for month of March

General Motors just posted a 12-percent sales increase for the month of February, and now the automaker is hoping to continue its strong sales trend by offering 0 percent financing for 60 months on sales that occur during the month of March. Curiously, this announcement comes just a few days after Toyota started its own 0 percent campaign. GM's vice president for U.S. marketing, Susan Docherty, argues that the Toyota incentives had nothing to do with The General's decision to offer similar finan

13Porsche 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

23REPORT: Ford offering dealerships for $1

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 stores by Ford and then buy out Ford's interest in the dealership with revenues. To give them a boost and, presumably, free up Ford money, Automotive News is reporting that Ford is offering dealers in the program an offer they'll have a hard time refusing: complete ownership of their stores for $1.

40GMAC resumes subprime lending

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 date to satisfy Auto Task Force viability requirements. The cash infusion will help struggling dealers with dried up credit channels, but it will also be used to finance cars and trucks to people with credit scores under 620. The under 620 crowd is referred to as subprime, a term that is now synonym

25Polk speculates about effect of government incentives on 2009 car sales

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 vehicle sold this year. By allowing buyers to deduct the sales tax from a new vehicle purchase from their income taxes, Polks sees a sales increase of 94,000 units this year.

4REPORT: French government calls for auto execs to forego bonuses

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 and retaining jobs, the French government has asked that Peugeot/Citroen and Renault company bosses take a pass on their bonuses.

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