loans


REPORT: 'Old' Chrysler defaulting on loan obligations

Before there was a Motors Liquidation Co, post-bankruptcy GM's hived-off shelter for useless assets, there was Old Carco LLC. That's the company Chrysler built to house its useless assets, and unsurprisingly, it doesn't have good news for unsecured creditors. Old Carco was left with liabilities of $20.5 billion, but has less than half of that to pay off everyone it owes. The latest accounting says there is $2.345 billion to pay things off. With a shortfall that drastic, even the U.S. Treasury and the Canadian governments are waiting for ... Read more →

Tata gets private-sector loan, doesn't need UK government money Jonathon Ramsey

Tata's target was £1 billion ($1.65B U.S.) in loans to keep the JLR group going. And while Tata is in talks with the U.K government about providing a large chunk of that, some of the ...

Porsche loan request rejected by Germany's state bank Chris Shunk

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 ...

BREAKING: Chrysler lenders, U.S. Treasury reportedly agree to terms [*UPDATED] Chris Paukert

Details are scarce at the moment, but word is emerging that Chrysler's lenders have reached a deal with the U.S. Treasury Department that could help stave off bankruptcy. According to a Reuters ...

Canadian Idle: Two Chrysler plants shut down over supplier dispute Chris Shunk

Chrysler has been playing hardball with the Canadian government in an effort to secure up to $3 billion in loans, as company Vice Chairman Tom Lasorda recently threatened to leave Canada if it didn't ...

Ratan Tata: Jaguar/Land Rover needs 500 million from the UK government to prevent layoffs 8 months ago on Autoblog

Ratan Tata bought Jaguar and Land Rover (JLR) expecting to pick them up and help them fly. Instead, as with nearly every other car manufacturer, he's having to dig them out of a deepening hole. From last December through next month, 1,800 employees have either been laid off, released or asked ...

New car customers stuck with old loans when dealers don't pay off the trade-in 9 months ago on Autoblog

Many consumers who buy a new car still owe money on the car they're trading in. The situation is usually handled by the dealer agreeing to pay off the old loan, the cost of which might be folded into the new car price. No problem a year ago, but it's a bigger issue now. With 5,000 dealers closing ...

Mulally confirms Ford isn't seeking federal funds 10 months ago on Autoblog

Ford won't be joining General Motors and Chrysler on any return trips to Uncle Sam's Bailout Buffet. The automaker plans to stay in Dearborn and cook dinner at home, so says CEO Alan Mulally, who told reporters at the NADA convention, "We don't want to borrow any more money. We have sufficient ...

Canada officially approves its own $4 billion auto aid package 11 months ago on Autoblog

True to their word, the Canadians came through with an aid package to support the auto industry, namely GM and Chrylser. The amount to be loaned is $4 billion Canadian, with $2.7 billion coming from the national government and $1.3 billion coming from Ontario, where much of the industry is based. ...

GM wants $10 billion in aid from the Feds to buy Chrysler 1 year ago on Autoblog

In the latest development of The Incomprehensible Union, General Motors is reportedly asking the U.S. government for $10 billion -- on top of the $25 billion loan approved recently -- to help it merge with Chrysler. The supplemental infusion would give the government, i.e. you and me, a stake in ...

Detroit automakers to lobby Congress for $50 billion in loans 1 year ago on Autoblog

What's another $25 billion between friends? That's the argument General Motors, Chrysler and Ford's Congressional lobbyists will be making in the next few months for a $50 billion loan from the federal government. Originally, Detroit's Big Three were after $25 billion in loans from the Feds, but ...

Lots overflowing with repo vehicles 1 year ago on Autoblog

What's the second biggest purchase after a home? Most of the time, it's a car. And with so many people losing their homes, it's really no surprise that so many people are also losing their cars. Repossession companies are reporting record business -- so much so in fact that they are securing ...






Autoblog Podcast #154: Gobbling up the News

Chris, Sam, and Dan kick out a podcast just in time for the long holiday drive.

 
 

Featured Galleries

  • 2011 BMW 5 Series sedan
  • Texas unveils new Vanity Plates
  • Spy Shots: Next-gen Buick Excelle for China
  • 2011 Cadillac CTS Coupe
  • Hyundai 2.4L Theta-II GDI
  • Ginetta G50EV and John Surtees at the Channel Tunnel
  • 2010 Toyota Land Cruiser
  • Review: 2009 Infiniti G37x S Sedan
  • Quick Spin: Superformance MKIII-R
  • 2011 Buick Regal Live Unveiling
  • BMW Concept 6
  • Zenvo ST1 Details
AOL Autos

Find Your Next Car

Resources

10 Most Searched Cars on AOL Autos

Autoblog Video

Autoblog Green

Daily Finance

Download Squad

Engadget

Joystiq

Autoblog Spanish

Switched.com

FanHouse

Asylum