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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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Ford Motor Credit Company announced last Wednesday that its board of directors and the board of directors of Ford Motor Company have approved a plan to restructure Ford’s debt through a combination of a conversion offer by Ford and tender offers by Ford Credit.
Read More →The average amount financed on U.S. new-vehicle purchases increased in January 2009, according to the latest Federal Reserve Statistical Release.
Read More →AmeriCredit Corp. has announced an amendment and extension of its master warehouse credit facility. The amendment, which was approved by all 10 active lenders in the facility, reduces the size of the facility to $1.11 billion from $2.25 billion, and extends the revolving period to March 2010 from October 2009.
Read More →Ducati North America and FreedomRoad Financial have struck a new partnership to provide retail financing for the full line of Ducati motorcycles in the United States.
Read More →A new partnership between XpressCredit, a Web-based credit aggregation system, and Allied Solutions, a provider of insurance, lending and marketing products to financial institutions, will bring loan applications from more than 400 powersports dealers to Allied’s more than 3,700 financial institutions.
Read More →Toyota Financial Services Corp., the financial arm of Toyota Motor Corp., has asked the government-backed Japan Bank for International Cooperation for some 200 billion yen in loans to help fund its operations in the United States, according to Kyodo News International.
Read More →Prestige Financial Services Inc., an affiliate of the Larry H. Miller Group of Companies, has established a three-year senior secured revolving line of credit with Wells Fargo Preferred Capital (WFPC).
Read More →Dealers and industry executives address questions about the future of the auto industry and the U.S. economy at the 2009 NADA Convention and Expo.
Read More →There are reasons why The Suburban Collection, the 14th largest dealer group in the nation, has achieved 60 years in the business. Learn how the dealer group has maintained its success.
Read More →Much has been made of how credit unions and regional banks have picked up the slack for dealers. This month the magazine finds out just how much from DealerTrack’s Rick Von Pusch. The software provider’s senior vice president of sales, marketing and international also opens up about how today’s economic crisis impacts the world of F&I.
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