A Slumping Automotive Market May Help Some Buyers
December 30, 2008
Today’s economy has made it so that car dealerships are struggling to move inventory. The challenges consumers are facing today have kept them from buying vehicles. Gas prices, the cost of food, shrinking equity, and reduced credit lines have made the average consumer very leery of investing into any big-ticket item for the time being. The looming threat of GM’s bankruptcy hasn’t helped, either. But it may just be this that makes the current market one very favorable towards buyers that are looking to obtain a vehicle at a cheap cost with plenty of bonuses. Read more
Department Of Energy Establishes Auto Loan Rules
December 27, 2008
Recently, the US Department of Energy announced a set of temporary regulations that would help it manage its $25 billion auto loan program. This plan would allow automakers and supplies to obtain financing before the end of 2008. Yet, despite this ambitious timeframe, few high-ranking government officials foresee funds being made available prior to December 31. Read more
GM Said to Study Shedding Saturn, Saab, Pontiac to Win U.S. Aid
December 24, 2008
General Motors is hard at work trying to reduce costs in order to win the $12 billion in federal loans. One example of the company’s activity includes a study to consider the discontinuation of brands like Pontiac, Saturn, Saab, and Hummer. Read more
Sec. Paulson’s Plan For Credit Card Bailout Criticized
December 22, 2008
The current sentiment among many economists regarding the latest twist in Treasury Secretary Paulson’s handling of the $700 billion bailout fund is dark indeed. Any suggestions that the money should be used to stimulate auto lending and credit card issuance is severely frowned upon and considered unnecessary. Read more
UAW may give up jobs bank to revive auto loans
December 20, 2008
The United Autoworker’s Union (UAW) is currently involved in negotiations that would eliminate it controversial jobs bank. Furthermore, the UAW may be open to other concessions that will help the major Detroit automakers qualify for the low-cost loans being offered by the federal government. Read more
Car repossession business is booming amid downturn
December 15, 2008
For many sectors of the country, the car repossession business is experiencing a substantial boom as a consequence of America’s current economic crisis. Some of these specialized businesses run with multiple agents who are tasked with collecting vehicles from people who have been repeatedly late of have not paid their auto loans. Read more
Auto Refinancing And Credit
December 9, 2008
When the subject of refinancing is brought up, people often think of their mortgages. What many don’t realize is that you can refinance your vehicle loan as well. Not only is this possible, but it is also easier, and can save you a significant amount of money as well. Read more
Getting the Most Out of Auto Financing
December 6, 2008
For most people, buying a car means having to obtain an auto loan. This is primarily true for new vehicles, but applies to high-end used vehicles as well that are sold at dealerships. In most cases, an individual looking to buy a vehicle will need a loan because the cost of the vehicle exceeds what that person possesses. Because of this, the individual looking to buy an automobile will have to acquire the proper loan before anything else can be done. Read more
Financing a Vehicle With Poor Credit
December 4, 2008
If you’re in the market for a vehicle, then your options are pretty staggering. There’s both new and used cars to consider, but each of these are provided in so many ways that it can be difficult to figure out what’s right for you. This is especially true if your credit isn’t very good. When looking at vehicles and comparing your options, they may seem a bit restrictive. Poor credit means auto financing is something that takes a considerable amount of money — and that’s only if you can get a loan in the first place. Read more
America’s Automakers And Their Debt
December 2, 2008
With another meeting planned with Congress coming upon December 2, the CEOs of the nation’s three big auto makers will try to convince the legislative body to accept their plan for a $25 billion bridge loan. The loan proposal comes with promises that each auto maker is in the process of restructuring operations to ensure increased profits once the economy regains its momentum. Read more
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