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Growing negative-equity scenarios mean such lengthy terms should be addressed in a forward-looking way to make them work for the dealer and the consumer down the road.
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GMAC Financial Services confirmed Thursday the $11.5 billion in capital requirements for the company resulting from the Federal Reserve's Supervisory Capital Assessment Program (S-CAP).
Read More →Chrysler LLC announced Friday that it gained approval from the U.S. Bankruptcy Court to sell all of the company's assets.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →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.
Read More →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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