The Associated Press reported today that a Swedish court rejected Saab’s application for credit protection, the latest setback for the cash-strapped carmaker.
The specialty consumer finance company announced that it has increased its credit line to $150 million to help continue its expansion strategy over the next few years.
Navy Federal Credit Union announced that it has lowered its 36-month new auto loan rate to an APR as low as 1.79 percent. It plans to maintain this rate, along with its 1.99 percent new auto rate for loans of up to 60 months.
Results from a poll conducted by the National Foundation for Credit Counseling (NFCC) revealed that 89 percent of consumers prefer to pay down debt than increase their savings.
Experian Automotive reports that the below-prime segment represented 22.29 percent of all loans originated in the second quarter, up from 18.21 percent in the year-ago quarter.
LEAP Financial announced it has expanded its headquarters in San Diego to support continued growth in revenues and staff.
The Shared National Credits (SNC) Review for 2011 showed the credit quality of large loan commitments owned by U.S. banking organizations, foreign banking organizations (FBOs) and nonbanks improved in 2011 for the second consecutive year.
The national 60-day delinquency rate for auto loans fell for the seventh consecutive quarter, dropping to 0.44 percent at the end of the second quarter, TransUnion reported today.
American Express and Mercedes-Benz USA have partnered to offer two new credit cards that will allow Mercedes-Benz owners to earn points that can be used toward the automaker’s service package offerings or toward the purchase or lease of a new vehicle.
The Blackstone Group has acquired Exeter Finance Corp. from Navigation Capital Partners. The specialty auto finance company also secured a new line of credit that will help grow its loan portfolio and expand its branch network.
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