Bank Of America Selling Auto Loan Bonds
September 8, 2009
In a recent announcement, the Bank of America Corporation has said that it plans to sell those bonds that are backed by auto loans and eligible for a special program offered by the Federal Reserve that would reinvigorate weak lending markets. Read more
U.S. Automakers’ Small-Car Output May Outstrip Demand
September 4, 2009
Big automakers, GM, Ford, and Chrysler are taking advantage of government incentives to design and build more fuel-efficient models, and are prepared to increase small-car production capacity by 63% by 2015, a move that may go well beyond the projected customer demands. Read more
GM Expected To Continue Leasing New Cars
August 4, 2009
Well, it’s official. General Motors, as well as its lending affiliate, GMAC, are expected to resume vehicle leasing as soon as August 1 following a yearlong suspension of all participation in the leasing markets. Read more
Auto Loan-Backed Proposals Make Majority of 2009 Issuance
July 30, 2009
It looks like those bonds that are back by auto loans constitute the larger portion of the asset-backed deals that have been issued so far this year. Read more
Carmakers Benefit From New Congressional $25 Billion Loan Program
July 8, 2009
An announcement is being made by the Obama administration that would offer more details regarding a $25 billion loan program that would help automakers like Ford Motors, Tesla Motors, and Nissan reorganize their factories to produce innovative vehicles. These companies would be among the first beneficiaries. Read more
Lear Corp Filling Chapter Eleven Bankruptcy
July 3, 2009
In a report originally filed by the New York Post on June 25, it looks like the Lear Corporation is preparing to file for Chapter Eleven bankruptcy. Read more
SBA To Offer Loans To Auto Dealers
June 17, 2009
Starting July 1, the Small Business Administration is plans to give automobile, recreational vehicle, and boat dealers government-guaranteed loans so they can restock their inventories. Read more
Consumer Legislation Makes Auto Financing More Restrictive
June 15, 2009
A new piece legislation called the Consumer Credit Fairness Act is being presented in Congress that may carry serious consequences for auto financing lenders. Should the bill be passed into law, it would also affect the used car market, a sector that has already taken a serious hit the previous year due to the exorbitant gasoline prices. Read more
Is Now A Good Time To Get New Vehicle Financing
June 12, 2009
Big name automakers General Motors and Chrysler have both made recent announcements concerning their moves to reduce the number of dealerships across the United States. According to estimates, GM plans to close 1,100 sites while Chrysler has said it would close 789 dealerships. Read more
Federal Government Gives GMAC $7.5 Billion
June 8, 2009
In a recent move, the Treasury Department has injected an additional $7.5 billion into ailing auto loan financer GMAC to shore up a capital shortage while also maintaining its obligations to GM and Chrysler car buyers. Read more
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