Posted on October 13th, 2009 • by Bill Cawthon
A group of 38 non-profit groups, including the NAACP, Consumer Federation of America and the Center for Responsible Lending, are asking the House Financial Services Committee to make sure automobile financing is included in the purview of a new Consumer Financial Products Agency. The consortium accuses dealers of predatory lending practices and want the federal [...]
Posted on October 14th, 2008 • by Bill Cawthon
GMAC is limiting financing to borrowers with the best credit. The finance company, now 51 percent-owned by Chrysler’s parent company, Cerberus Capital Management, announced it would offer loans only to customers with a credit score of at least 700. About 58 percent of Americans fall in that category, but current economic conditions are having a deleterious [...]
Posted on October 2nd, 2008 • by Bill Cawthon
Let’s start the report with some good news: Chrysler regained the No. 4 spot in sales last month. Not just for the month, but in year-to-date (YTD) sales, as well. Chrysler outsold Honda by over 10,000 units in September, giving it a slim, 2,936-unit lead for the first nine months of 2008. Some more good [...]
Posted on September 24th, 2008 • by Bill Cawthon
Chrysler wants the federal government to include auto loans in the $700 billion bailout the Bush administration has proposed to Congress. Jim Press, Chrysler president and vice-chairman, confirmed the automaker had spoken with government officials and company spokeswoman Linda Becker said Chrysler is studying a proposal put forward by the American Financial Services Association (AFSA), a trade group [...]
