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The government is getting set to inject more than$7 billion into GMAC, turning the company into a quasi-government agency, according to published reports.
The move is part of an effort to improve its lending capability and to bolster GMAC’s capital base — after having failed a bank “stress test” earlier this month.
Essentially, this massive capital infusion could upset competition in the industry, particularly for Ford Motor Credit Co., which has avoided tapping government funds to date.
Auto lender Arivo Acceptance wanted to develop new software faster, so it enlisted a group mainly comprised of interns with...
Extra-long car loans can lower consumers’ monthly payments, but they also keep dealers from selling vehicles to those customers for...
Alternative asset management firm Bayview Asset Management in the past five years has purchased about $25 billion in auto collateral through bulk...
Luxury vehicle dealerships are fighting a rapidly growing scam in which fraudsters impersonate delivery companies to steal vehicles. Kalamazoo, Mich.-based...
David Thompson
David Thompson
David Thompson
