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GM Enters Into $11 Billion Revolving Credit Facility

General Motors Co. entered into a three-year secured revolving credit facility of $11 billion.

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Santander, Third-Party Investors Eyeing DriveTime

DriveTime’s vehicle financing portfolio is expected to be purchased by Santander Consumer USA, while third-party investors are looking to purchase the buy-here, pay-here group’s operations and facilities.

Wells Fargo Expands GM Relationship, Eyes Other Automakers

Wells Fargo officials told Bloomberg that it would like to expand its relationship with General Motors. A bank official also said the company is interested in expanding its offerings to other automakers.

Autotrader.com Files First Internet IPO Since Facebook

The vehicle listing site’s initial public offering is the first since Facebook’s troubled attempt. Last week, AutoTrader filed with the SEC that it’s seeking to raise $300 million.

Charting the Recovery

The magazine’s resident finance expert points out the good, the bad and the ugly about the recovery. He then offers his take on what lending sources are really saying these days.

Carbiz Inc. Loses Funding, Ceases Operations

Carbiz Inc. has officially ceased operations, according to documents filed with the Securities and Exchange Commission. The news follows months of uncertainty for the buy-here, pay-here (BHPH) dealer group, which operated 25 stores in nine states.

GMAC Offers $4.5 Billion of Guaranteed Debt

GMAC Financial Services announced last Friday that it has priced an offering for $4.5 billion of debt guaranteed by the Federal Deposit Insurance Corporation (FDIC), pursuant to the FDIC Temporary Liquidity Guarantee Program (TLGP).

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