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    Featured: Dealers and Feds Face Off Over Auto Loan Regulations
    NADA Argues For Status Quo; Government Wants Tighter Rules 1412800020

    "Dealers have to discount those rates to be competitive. The current system saves customers money. Period." – Forrest McConnell Auto dealers and the federal government are facing off over proposed rules to regulate auto financing, and this week the head of the nation's largest dealer ...

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    Report: 72-month loans enticing consumers to buy loaded cars
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    Longer loan terms and favorable interest rates are tempting consumers into pricier and more feature-laden vehicles, consequently driving average transaction prices up about three percent since 2009, according to a new report by Automotive News. It's that first bit, about longer loan terms, that ...

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    Report: Honda exec says US market near capacity, could hurt subprime buyers
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    Is there a point in the US auto industry where companies should start considering the welfare of their customers ahead of selling more cars? American Honda Executive Vice President of Sales John Mendel thinks that level exists, and we may be getting very close to it. According to Automotive ...

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    Study: Outstanding auto loans total higher than ever
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    It looks like Americans are feeling more confident about borrowing money again, at least when it comes to their cars. Credit reporting giant Equifax has released its latest National Consumer Credit Trends Report, and the data suggests that auto lending is booming in 2014. The total amount of ...

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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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    Official: Hyundai deferring car payments for furloughed federal workers
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    Since the US government shut down early this morning, more than 800,000 federal employees could be furloughed without pay until a deal is reached to start the government back up. To help affected employees cope with the temporary layoffs, Hyundai is expanding its Assurance program to defer all of ...

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    Report: U.S. 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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    Report: House committee looks to cut auto tech loans to fight fires
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    We've heard all about the wildfires that have been raging in the western US, and the lengths that normal citizens are going to to fight them. Now, Congress is finally stepping in to deliver some aid of its own. The funds, though, could come at the expense of the auto industry. The Republican ...

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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: Auto loan delinquency rates at historic lows
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    One indicator of the status of our economy is the rate at which car owners are able to make payments, or rather, aren't. The rate at which owners can't get the check in the mail for their new car is called the delinquency rate, and according to a Los Angeles Times report, it has fallen to an ...

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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: More Americans paying their car loans on time
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    Nearly everyone in America with a car loan is making the payment on time, the Detroit Free Press is reporting. A scant .36 percent of people with a car loan are 60 or more days behind on making their payment, according to a TransUnion report looking at the January through March quarter of auto ...

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    Report: Chrysler abandons plan seeking more federal loans
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    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, ...

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    Report: Marchionne apologizes for refering to gov't bailout as 'shyster loans'
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    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. The ...

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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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    Obama working to pitch success of auto bailouts to American public
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    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 ...

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    Chrysler Financial to begin lending once again for Chrysler vehicles?
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    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 for ...

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    Whitacre: Remaining $5.8B in gov't loans paid back 5 years ahead of schedule
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    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 ...

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