Listen to the newest Auto Finance News Podcast, in which Matt Petrillo and I discuss the upcoming issue’s cover story on “Long-Haul Lending,” and why more and more consumers are seeking out longer-term auto loans.
We also preview the Auto Finance Summit, which will be held Oct. 22-24 at the Encore Las Vegas.
How can this be government interference? If a private bank makes a business loan to a business it has every right to set the debt covenants to what ever it wants. From the banks perspective they are more concerned with getting paid back than having the business be more profitable, which is understandable. Why is it that when the government bails GMAC out the debt covenants that it mandates are “government interference” rather than just business?