How Sun Came Thisclose To Getting Taxpayers To Pay Off Its Bad Car Loans [Freakoutnomics]
"Not once did we consider asking Washington to bail out the Sun," ... firm Cerberus, which in turn controls two auto financing firms, GMAC and Chrysler Financial. Auto financing firms are sitting on truckloads of car loans gone bad in no small part because people can't [more...]
Date: 2008-09-30 22:53:34
Blog posts
(250) |
Videos
(211)
How Big Government Almost Rescued Big Government-Hating 'Sun' [Freakoutnomics]
Gawker search New York, 8:12 PM Tue Sep 30 53 posts in the last 24 hours RSS Tip Your Editors: tips@gawker ... equity firm Cerberus, which in turn controls two auto financing firms, GMAC and Chrysler Financial. Auto financing firms are sitting on truckloads of car [more...]
Date: 2008-09-30 22:53:34
Is Your Auto Loan Too Long?
When financing a new car, people seem to be willing to do anything for low monthly payments ... of that loan even more, and you might qualify for a zero-interest financing plan (provided your credit ... . Right now, the average auto financing plan lasts 70 months–that’s almost six years. That trend [more...]
Date: 2008-10-13 19:19:03
Financing a Vehicle With Poor Credit
If you’re in the market for a vehicle, then your options are pretty staggering ... or used vehicles. Anybody who has bad credit will typically get very high interest rates on an auto ... . Poor credit means auto financing is something that takes a considerable amount of money — and that’ [more...]
Date: 2008-12-04 16:15:20
Great Credit Scores Still Net Good Auto Loans
The economy took a serious blow when the mortgage industry faced what can be considered its greatest crisis in history ... for loans. Even though home mortgages are a tough act to follow these days, auto financing ... qualify for good auto loan opportunities. The credit crisis has affected everybody, both consumers [more...]
Date: 2009-02-03 16:07:11
Financing Auto Loans or Car Loans After Bankruptcy
If you do not begin establishing a good credit history after bankruptcy, your credit score will not improve. If filing bankruptcy, it is wise to educate yourself on ways to quickly boost credit rating. One such tactic includes financing an automobile. Most auto loan lenders offer loans to people with bad [more...]
Date: 2009-02-19 06:40:08
The Google Graveyard
I wrote a post the other day about how Digg could grow its business by acting more like Google. It turns out Digg is acting just like Google ... spending from auto-financing, home-financing and real-estate advertisers. In last year’s fourth [more...]
Date: 2008-12-04 18:04:30
That's It, Neocons. Big Government Will Pay Off Those Big Loans On Your Big Cars, But No More Big "Ideas" [Freakoutnomics]
"Not once did we consider asking Washington to bail out the Sun," ... invested in the private equity firm Cerberus, which controls the auto financing firms Chrysler Financial and GMAC. (And also, owns Chrysler itself, which was also a bad idea.) Auto financing firms [more...]
Date: 2008-09-30 22:53:34
Scroll For Updates:Cliff Notes’ version of Auto Bailout Agreement: Borrow. Spend. Repeat. Panic. FAIL.
Via MM, here’s the 31-page draft text of the bailout ... Shopfloor » Blog Archive » Auto Industry Financing and Restructuring Act Auto Industry Bailout Draft ... . Pelosi on the auto bailout: No worries, it won’t be an endless flow of money Linked [more...]
Date: 2008-12-08 21:47:31
Remember When Nancy Said “We will not simply hand over a $700 billion blank check to Wall Street and hope for a better outcome”?..Looks Likes She is Praying
Looks like the check was blank and she really has no control over it: In a letter to Treasury Secretary Henry M. Paulson Jr ... to federal regulation. That means GMAC, GM’s auto financing arm, may be eligible for quick help ... in auto sales in more than two decades. But as the news from Detroit has grown increasingly grim [more...]
Date: 2008-11-09 04:20:19
Auto Industry: Can We Get a 'Twofer'?
As the House prepares to vote on the $15 billion ”Auto Industry Financing and Restructuring Act” (latest draft of bill text here) ... : (i) we have to assist the auto industry (can’t let them fail), but that it’s important it not look like we’re ... -financed extended warranties on such vehicles? And couldn’t we even structure this to be more of a loan [more...]
Date: 2008-12-10 21:13:23
GE: What's Working, What's Not
Five key quotes from General Electric's (GE) Business Update call: GE Capital still operates in many sectors: GE Capital has ... (C); contributed to support all major US airlines, auto companies… In restructuring finance: Middle market commercial lending, equipment, aircraft financing, health care, fleet leasing, very strong [more...]
Date: 2008-12-03 12:06:55
Economics Refresher - It's the Economy Stupid
(please excuse how this looks.... I am still trying to figure out how to correct the looks of posts and links - if you happen to be reading this in a ... had taken money from a client and used it to make a down payment on a car Pat couldn't afford ... background in financing (mortgage, auto, and credit card), as an accountant (both checking & saving [more...]
Date: 2008-09-21 11:57:00
The Consequences of Cosigning Your Loan
If you have lower-income family members or friends, or younger family members just starting out life on their own, chances are, at some point, ... . The fact is, many agreements involving large sums of money–agreements such as financing with an auto loan ... as cosigner. This good-faith assistance from one’s nearest and dearest can provide low-income [more...]
Date: 2008-10-15 17:27:53
The glass isn't half full or half empty. It's empty.
James Quinn has an asteroid-striking-the-financial-world piece at Seeking Alpha, the interesting site devoted to exchange traded funds, titled " ... get a bigger car.” Major banks offer credit cards using your home equity as a way to pay everyday expenses ... , 0% auto financing, and no-doc mortgages. Americans grieved for a few weeks and then did their [more...]
Date: 2008-08-15 07:59:00
The House Approves Auto Industry Financial Relief Bill
Vote on H.R. 7321, Auto Industry Financing and Restructuring Act, was 237-170 (Roll Call Vote No. 690) ... of the automakers would be catastrophic. As John Judis put it recently in the New Republic, without ... industry.’ That is the motive behind the $15 billion in emergency bridge loans for the car companies [more...]
Date: 2008-12-11 13:15:06
GM, Ford Death Watch
Fortune is reporting GM plunges 31% as outlook dims Investors cast a shocking vote of no confidence in the future of U.S. automakers Thursday ... a new report by Global Insight that shows U.S. auto sales hitting recession levels this year ... million in 2009, compared with 16.1 million last year. It turns out that auto finance companies were [more...]
Date: 2008-10-11 05:40:52
Where Any Sale Is A Prized Event
The Associated Press reports on Florida. “Al Ray is so strapped for cash, the only time he eats out is on Wednesday or Sunday, ... last November, and has been working as high school tutor, scratching out about $1,000 a month - if he’s lucky ... million villa in Sarasota, Fla. A finance chief for an auto-sales chain, he earned more than [more...]
Date: 2008-09-23 13:38:07
Bailouts Are Our Business
Phase One of Operation Money Tree has passed. The House of Representatives approved a 15-billion-dollar government lifeline for the teetering US auto industry, but the legislation now faces stiff Republican opposition in the Senate. The Auto Industry Financing and Restructuring Act passed 237 to 170 following several hours of intense [more...]
Date: 2008-12-11 13:29:00
IT vendors to offer 0% financing… Could IT be next in the economic hit parade?
All economic attention has been going to the Mortgage, Banking, Retail and Auto sectors but the IT sector is also getting slammed as well ... by offering 0% financing? Actually, the real question comes down to how many companies need to buy new ... out the Auto Industry play book – 0% financing for up to 36 months. Back in 2002 when GM had 0% financin [more...]
Date: 2008-12-24 13:36:46
Big Three Bankruptcy: Not So Bad After All
Quietly, those in the know are starting to suggest that bankruptcy may be just what the auto industry needs: ... of finance at New York University, recommended that the automakers enter bankruptcy reorganization. Through ... reorganization could quickly lead to liquidation because car buyers might lose faith in the companies [more...]
Date: 2008-12-08 18:15:32
More Friedman thoughts …
I cannot get enough of Friedman these days. I think it is probably because he seems to be echoing my thoughts exactly ... , and your local car company depended on the credit markets to finance your auto loan ... you were able refinance your house two years ago. And your local airport was insured by A.I.G. [more...]
Date: 2008-10-02 03:00:18
The Vagaries of Leasing Your Vehicle In Today’s Economy
In the old days, leasing a car was a viable alternative to buying one ... such as SUVs and large pickups has plummeted. Financing companies no longer stand to profit ... customers with auto-leasing deals through affiliated financing companies. In the past, car [more...]
Date: 2008-09-12 15:11:26
Weakened Credit Lines Have Eliminated 100 Percent Auto Financing Deals
In generous times, consumers were able to procure 100% financing on cars ... for quality loans in order to purchase a vehicle, and others without stellar credit can find financing ... industry. Credit lines have shrunk, and lenders have imposed strict standards for borrowers to follow [more...]
Date: 2009-01-13 17:41:54
Getting the Most Out of Auto Financing
For most people, buying a car means having to obtain an auto loan ... to buy an automobile will have to acquire the proper loan before anything else can be done ... that are sold at dealerships. In most cases, an individual looking to buy a vehicle will need a loan because [more...]
Date: 2008-12-06 16:20:46
Auto Industry: Special Loan Financing! (pfblogs.org)
What do you do with an industry that has been losing billions of dollars, has an uncompetitive cost structure, ... some insurance money.c) Lend it a huge amount of money at a ridiculously low interest rate ... . Unfortunately, you are either a village idiot, a U.S. Congressman, or an auto industry executive [more...]
Date: 2008-09-29 04:38:05
Labor Day Car Sales
If you are interested in purchasing a new or used car during the Labor Day Weekend, now is a pretty good time to do so. Many car dealerships are offering really excellent prices and auto financing options ... . If you are looking for a great deal on a used car and also would like to know what the value of your existing car [more...]
Date: 2008-08-30 21:54:03
Automotive Financing Depends Heavily On Credit
When buying a vehicle, you often have several opportunities to pursue to obtain a vehicle. However, in almost every case, purchasing a new car involves auto financing. Cars are expensive ... , among other things. These days, because of the weakened economy and the credit crunch, financing [more...]
Date: 2008-10-29 16:00:17
The Benefits of Auto Financing
In today’s world, you have many options available to you to pursue any number of things when it comes to making purchases. You’re probably often given the choice to use cash, debit, credit, check ... estate market or a car dealership to obtain what you need. There’s a strong private market [more...]
Date: 2008-11-24 16:34:21
America’s Car-Mart Caters to Riskier Borrowers
Whereas competitors, such as AutoNation and CarMax, currently face difficulty in moving trucks and sport utility vehicles off their lots, due to changing consumer buying patterns and/or restricted access in obtaining auto financing, America’s Car-Mart (CRMT-$12.08) is finding success in selling basic and affordable transportation [more...]
Date: 2008-12-16 05:23:00
Racing, cars and taxes, oh my!
Helio Castroneves has found maneuvering the federal court system a bit more challenging than the race tracks with which he's more familiar. [ ... and the hearing in WebCPA, the Miami Herald and Sports Illustrated. Taxpayer financed MVP auto ... not be the best PR move, GM decided to forgo the usual onfield presentation. "Given the current business [more...]
Date: 2009-02-07 19:22:29
GORDON BROWN: BUYING SOMEONE ELSE'S CAR WITH YOUR MONEY
From the Times: Customers buying new cars will get loans from the taxpayer under a controversial plan to rescue the beleaguered motor industry. Finance companies linked to the auto industry could be given access to the Bank of England’ ... that that there are millions of credit-starved Britons queuing up for loans that they cannot get by hook or by [more...]
Date: 2009-01-15 19:09:00
Working with Credit and Auto Loans
When buying a vehicle, you often have several opportunities to pursue to obtain a vehicle. However, in almost every case, purchasing a new car involves auto financing. Cars are expensive ... you have the possibility of obtaining a car after acquiring the assistance of an auto loan. But just like any other loan [more...]
Date: 2008-11-19 04:15:04
Textron: First TARP recipient from defense sector
Filed under: Bad news , Short stories , Stocks to Sell , ... , helicopters and golf carts. Add in a large captive finance arm and an auto parts unit ... % of the assets on the books of its captive finance arm are non-performing and that could worsen [more...]
Date: 2009-02-27 14:50:00
Here It Is: My Long-Awaited And Tremendously Under-Informed Opinion (At Least Of Late) About The Financial Crisis
Important people are telling us to be afraid... very afraid... of what will happen if we don't "fix" this "thing" ... depended on the credit markets to finance your auto loan — and now that the credit market has dried ... it affects us all: This is a credit crisis. It’s all about confidence. What you can’t see is how bank [more...]
Date: 2008-10-01 16:27:41
How Did He Do?
I thought President Obama was surprisingly ineffective tonight. He started as I expected he would, with optimistic, Rooseveltian assurances ... : Given the choice between federal bailouts for the auto companies, the finance industry [more...]
Date: 2009-02-25 03:00:22
GMAC Address
Five of the best sites for finding GMAC mailing addresses. Know of another site that should be listed here? ... Mortgage Online Payment, GMAC Car Loan Account) 1. GMAC Address? - August, 2007 message board thread ... addresses (we think it is for GMAC auto financing, but that’s not spelled out). We can’t vouch [more...]
Date: 2008-12-23 03:26:43
Lenders Set Tougher Requirements for Securing Auto Loans
There is no questioning the fact that the financial landscape of America is facing some tough times ... of credit. It’s especially tough for the auto industry, where consumers depend heavily on vehicle financing. Towards that end, it is simply tougher to get an auto loan. At one point it was very simple [more...]
Date: 2009-01-19 17:09:45
Wall Street Breakfast: Must-Know News
New acronym on the block... The government unveiled its newest initiative, called TALF, or Term Asset-Backed Securities Loan Facility. The $200B facility will support consumer finance, including student, auto and credit card loans ... Mac (FRE) and the Federal Home Loan Banks. According to the statement released by the Fed [more...]
Date: 2008-11-26 12:14:47
0% Global Interest Rates Totally Destroys Banking
October 29, 2008 Elaine Meinel Supkis World stock markets are shooting up like a rocket based on the perception that the G7 central bankers and ... by an orgy of 0% financing. Sounds like all those auto commercials. As we watch the entire concept ... . Just like those auto loans at a fake 0% interest rate: read the fine print and see the truth. Three [more...]
Date: 2008-10-29 14:46:57
Iz R Korprations Lerning? - by: matt
Mich. lawmakers want gov’t to help auto financing AP (10/22/08) ... Henry Paulson to use their regulatory powers to loosen up credit to help finance car loans. … ... of the financial sector to restore liquidity in the U.S. auto industry. Right, because loose credit [more...]
Date: 2008-10-22 22:30:58
Car Loans Still Available Through Dealers
It seems as though everything from higher gas prices to the mortgage crisis are being blamed for the declines in auto sales, ... time, the auto loan financiers have taken up stringent policies regarding the loans ... to maintain a line of credit or auto loan financing. [more...]
Date: 2008-11-10 15:55:20
Fed's GMAC Bailout: Criticism Aside, GM Now Looks Appetizing
The U.S. Treasury’s decision to inject $6bn worth of capital into GMAC (GOM) allows the auto financer to broaden its distribution lending base to customers with minimum credit ... credit is what precipitated today’s financial crisis. Then again, desperate times call for desparate [more...]
Date: 2008-12-31 06:30:04
Scary Words from Bernanke
This morning's Wall Street Journal quotes a 1999 paper by Ben Bernanke as follows: Roosevelt's specific actions were, I think, ... to backstop the asset-backed securities market, which finances auto, credit-card and student loans [more...]
Date: 2008-12-15 15:36:39
South Florida: Land of Loan frauds and dumb people.
Business: Explain to me how its the dealer fault if you lie on your loan application? ... company first approved, then rescinded the auto loan -- after discovering the finance application ... retiree on Social Security, says the dealership persuaded her to lie on her credit application [more...]
Date: 2009-01-25 19:39:25
6 Tips to Detour Around Car Loan Problems
This item from Citibank offered good tips about reducing car loan headaches."After mortgages, auto financing is the most expensive loan most Americans carry ... for related costs such as insurance, gas, registration fees and maintenance. 2. A Car Loan is a Contract [more...]
Date: 2008-09-16 10:00:00
Search Data Reveals Opportunities and Overlaps for Chase and WaMu
Chase recently acquired beleaguered bank Washington Mutual. An article on AdAge ... banking, mortgages, loans and student loans. Chase is more strongly associated with auto finance ... of doing brand research, this offers an excellent opportunity to look at online brand attributes [more...]
Date: 2008-10-07 11:03:15
A Magic Tool To Find The Best Lender
A Magic Tool To Find The Best Lender September 8th, 2008 An extravagant car! ... succeeded. Thanks to those auto loan financing companies, all merit goes to them, which make our dream ... . You may go on to buy any automobile from car to trucks never mind, you have the ways [more...]
Date: 2008-09-08 05:59:59
GM woes worsen after Delphi warning
General Motors on Monday warned that Delphi, its biggest parts supplier, may be unable to emerge from bankruptcy protection ... , one of the US’s biggest mortgage lenders, controlled by GMAC, GM’s 49%-owned financing unit ... hope to the beleaguered US auto industry, saying it was willing to “listen” to any new proposals [more...]
Date: 2008-11-11 09:14:00
The Unholy Union of Automakers and Financing
Time to smack the auto industry and the UAW again. From a column in yesterday's Wall Street Journal: ... is a "bargaining unit" and has a union president, who has a staff. If the company consolidates ... has a solution: On top of the $17.4 billion in loans already pledged to keep GM and Chrysler [more...]
Date: 2008-12-31 12:54:00
1 -
50
of
250
Posts
Page:
First
| <
Preceding
|
Next
>
0
|
1
|
2
