GE Money Offers Service Contract Program for RV Industry
Jan 6, 2007
IRVINE, Calif.--GE Moneyâs Sales Finance unit has become the first provider of consumer recreational vehicle (RV) financing to offer a comprehensive extended service contract program for owners of motor homes, trailers and campers. GEâs 5-Star Program, administered through Auto Warranty Services (AWS), a GE M ... Continue reading
Finalists Announced for the 2007 Urban Wheel Awards
Dec 12, 2006
Star-studded Event to Honor Diversity in the Auto Industry DETROIT, Dec. 11 -- An independent panel of automotive journalists have announced finalists for the 2007 Urban Wheel Awards. Winners will be honored at the 11th Annual Urban Wheel Awards, which will be held at the Max M. Fisher Music Center on January 9, 2007, ... Continue reading
Dec 12, 2006
CALABASAS, Calif.--According to Informa Research Services, as the worldâs top automakers prepare to launch their new 2007 models at this year's auto shows, many consumers are turning to online sites like MSN Money (http://moneycentral.msn.com/loan/loan.aspx?iType=3) for the best financing deals. With consumer spen ... Continue reading
GM Completes the Sale of a Controlling Interest in GMAC
Nov 30, 2006
DETROIT November 30, 2006; General Motors Corp. today announced that it has completed the sale of a 51-percent interest in GMAC to a consortium of investors led by Cerberus FIM Investors, LLC and including wholly owned subsidiaries of Citigroup Inc., Aozora Bank Ltd. and The PNC Financial Services Group, Inc. The trans ... Continue reading
Ford Motor Co.'s $15 Billion Senior Secured Credit Facilities Rated 'B'
Nov 30, 2006
NEW YORK, Nov. 30 -- Standard & Poor's Ratings Services said it assigned its 'B' bank loan rating and '2' recovery ratings to Ford Motor Co.'s proposed $15 billion senior secured credit facilities, which consist of an $8 billion revolving credit facility and a $7 billion term loan B facility. The bank loan rating is eq ... Continue reading
Bank of America Becomes 'Official Bank of NASCAR' Starting With 2007 Season
Nov 27, 2006
Company's expansion into racing driven by enterprise-wide business growth potential Multi-year agreement exemplifies NASCAR's strategy to partner with Fortune 500 blue chip companies that will market the sport nationally CHARLOTTE, N.C., Nov. 27 -- Bank of America, one of the world's largest financial institutions, tod ... Continue reading
Oct 12, 2006
Innovative Tool Combines Multiple Vehicle Inventory Sources Into One Centralized Site ATLANTA, Oct. 12 -- Manheim and Toyota Financial Services (TFS) today announced the launch of an integrated online remarketing resource designed to significantly improve how Toyota and Lexus dealers locate and purchase used Toyota and ... Continue reading
Ford Employee Buyouts Offered Next Week
Oct 10, 2006
DETROIT, Oct 9, 2006; Reuters reported that Ford Motor Co. said on Monday it will begin offering buyout packages next week to all its U.S. hourly workers under its previously announced plan to cut 30,000 blue-collar jobs by the end of 2008. The buyouts will be made available from Oct. 16 to Nov. 27 to all of the more t ... Continue reading
GMAC LLC Exercises Option to Purchase Capital Auto Receivables Asset Trust 2003-02
Oct 6, 2006
DETROIT October 5, 2006; GMAC LLC announced today that it will exercise its option to purchase the remainder of the Capital Auto Receivables Asset Trust 2003-2 on Oct. 16, 2006. This will result in a termination of all of the outstanding Capital Auto Receivables Asset Trust 2003-2 Class A-4a 1.960% Asset Backed Notes, ... Continue reading
Ford Offering Cheap Loans on Pickup Trucks
Oct 3, 2006
DETROIT Oct 3, 2006; Reuters reported that Ford Motor Co. said it was offering low-rate financing deals on many of its 2007 model-year vehicles and interest-free loans on its 2006 vehicles to boost sales. The No.2 U.S. automaker, as part of its new "Truck Month" campaign, is offering zero-percent loans for 60 months on ... Continue reading
GM: Kerkorian Move Raises Questions
Sep 29, 2006
Washington DC Septyember 29, 2006; The AIADA newsletter reported that the move by billionaire investor Kirk Kerkorian yesterday to make public his interest in buying up to 12 million additional shares in General Motors has sparked questions on what his motive behind the announcement may be. Some people in the industry ... Continue reading
Ford Motor Credit Company to Restructure Its North American Operations, Reduce Global Costs
Sep 28, 2006
* Fifty-nine branches will combine with six existing service centers, consolidating originations and servicing functions in the United States. * Dealers will continue to be served by sales personnel located in their markets; consolidated operations will provide dealers with extended hours of service and faster contract ... Continue reading
Auto Buyers Should Plan Ahead to Get Right Vehicle, Best Loan, Says AAA
Sep 26, 2006
ORLANDO, Fla.--That shiny new vehicle on the dealer's lot can be enticing, but with interest rates creeping up many would-be buyers turn to the only other way they know to get into a new car: extend the length of the loan, thereby lowering the monthly payment. Long-term loans are gaining traction with consumers hit har ... Continue reading
Sep 26, 2006
TORRANCE, Calif., Sept. 25 -- What college student couldn't use a free set of wheels? Whether you're racing to class, the library or managing a crazy social life, any college student could benefit from having a reliable -- and let's face it -- cool car. Enter Toyota Financial Services (TFS) and mtvU, MTV's 24-hour coll ... Continue reading
New KBB Study: Car Buyers Find Zero Percent Financing Most Appealing
Sep 21, 2006
Kelley Blue Book Marketing Research Releases Results of 2006 Purchasing and Pricing Study IRVINE, Calif., Sept. 21 -- Kelley Blue Book (www.kbb.com), the leading provider of new and used vehicle information, today releases the results of its 2006 Kelley Blue Book New-Vehicle Buyer Attitude Study on Vehicle Purchasing a ... Continue reading
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