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    Report: US car loans reach six-year high
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    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 ...

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

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    Study: Volvo buyers have best credit scores among all auto shoppers
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    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 ...

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    Report: Subprime financing on the rise in new car sales, leasing too
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    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, ...

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    Official: General Motors buys Ally Financial foreign operations
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    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. "GM is ...

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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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    Who pays the highest auto loan interest rates in the country?
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    It's that time of the year again, kids. Manufacturers are busy trying to put people in cars in order to move leftover stock and make room for incoming models, and many are doing so with ridiculously low financing rates. But who's the fairest of them all? As it turns out, ...

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

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    GM offering 0% financing for month of March
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    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 ...

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    Porsche loan request rejected by Germany's state bank
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    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 ...

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    REPORT: Ford offering dealerships for $1
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    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 ...

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    GMAC resumes subprime lending
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    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 ...

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

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

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    REPORT: Dealers say bailout hasn't made for more GMAC loans
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    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 ...

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    Not Saved By Zero: Toyota looking to ramp up rebates
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    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 ...

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    Does Washington's GMAC bailout hurt Ford?
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    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, ...

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    Fed grants GMAC bank holding status
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    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 ...

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    GMAC rushes to conclude bond buyback and avoid bankruptcy
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    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 ...

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    Tesla secures $40 million in financing
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    Click above for a high res gallery of the Tesla Roadster v1.5
    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 ...

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