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NewsMay 11, 2009

Bankruptcy Court Approves Process for Sale of Chrysler’s Assets

Chrysler LLC announced Friday that it gained approval from the U.S. Bankruptcy Court to sell all of the company's assets.

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NewsMay 11, 2009

Average Interest Rate Falls to 2.74 Percent, Says Federal Reserve

The average interest rate for new-car loans continued to drop in March, while the amount financed increased, according to the latest Federal Reserve Statistical Report.

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NewsMay 11, 2009

College Graduates Offered a Break on New Toyota and Scion Vehicles

Toyota Financial Services (TFS), in partnership with Toyota Motor Sales, is offering qualified college graduates a $1,000 rebate toward the purchase or lease of select new Toyota vehicles, including the Corolla, Matrix, RAV4, Camry (excludes Camry hybrid), Tacoma, Yaris, and any new Scion model.

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NewsMay 7, 2009

XpressCredit Partners With East Coast Funding Group

XpressCredit announced last week a partnership with East Coast Funding Group, which will allow dealers on the XpressCredit platform to access the Great Neck, N.Y., finance company for consumer loans.

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NewsMay 5, 2009

AFSA Calls For Increase in TALF Participation

The American Financial Services Association presented a letter today to the U.S. Treasury Department and the Obama administration’s Auto Task Force that provided recommendations for increasing participation in TALF.

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NewsMay 5, 2009

GMAC Auto Division Posts Profit; Extends Curtailment Waiver

GMAC Financial Services today reported a first quarter 2009 net loss of $675 million, compared to a net loss of $589 million in the first quarter 2008.

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NewsMay 4, 2009

Expansion of SBA Program Is Good News for Floorplan Financing

John McEleney, chairman of the National Automobile Dealers Association, announced his support last week for recent changes to SBA 7(a), a Small Business Administration loan-guarantee program.

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NewsMay 4, 2009

Westlake Financial Enters Hawaii Market

Westlake Financial Services recently expanded into the state of Hawaii. Westlake now operates in 37 states, with Hawaii-based contracts accepted starting May 1, 2009.

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NewsMay 1, 2009

Harley-Davidson Completes Funding Agreements to Support HDFS Lending

Harley-Davidson Inc. and its Harley-Davidson Financial Services (HDFS) subsidiary have finalized agreements that, in combination with other previously completed transactions, provide approximately $1 billion in funding to fuel HDFS' lending activities in 2009.

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NewsMay 1, 2009

HDFS Appoints Perry Glassgow as Interim President

Harley-Davidson Inc. announced Friday that John Olin, the motor company's vice president and controller, will take on the added responsibility of interim chief financial officer for Harley-Davidson Inc. It also announced that Perry Glassgow, the company's vice president and treasurer, will also serve as the interim president of Harley-Davidson Financial Services (HDFS), effective immediately.

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