Conforming With the Sharia

Gulf Cooperation Council countries — Saudi Arabia, United Arab Emirates, Kuwait, Oman, Qatar, and Bahrain — enjoy some of the highest per capita incomes in the world. With rising oil prices, improving roads, booming economies, trade liberalization and a growing population, it is no surprise that the auto sector is growing rapidly. In the United […]
  • Auto Finance News
  • August 4, 2008
  • Archives

Leasing’s Blessing in Disguise

By Marcie Belles Every cloud has a silver lining, and for the auto finance sector, Chrysler Financial’s exit from the leasing space may very well be it. In fact, I posit, Chrysler’s move might be the springboard to right the severely damaged marketplace. As I see it, there are several major problems with the industry […]
  • Auto Finance News
  • August 4, 2008
  • Archives

Dealers Ditch 4x4s as Values Plummet

Parker’s Car Price Guide has reported “no demand” among used car buyers for petrol 4x4s, especially with V8 engines. Owners of 4x4s are said to be having difficulty entering part-exchange schemes, dealers being unwilling to take on the fuel-hungry vehicles as their devaluation continues. The issues at hand, unsurprisingly, are fuel consumption and the changing […]
  • Auto Finance News
  • August 4, 2008
  • Archives

The Wireless Conundrum

By Michael A. Benoit Anyone familiar with Washington knows the federal legislative process (among other things) is messy. Congress has a general idea of what it wants to accomplish, but it has neither the platform, the background, nor the skill to focus on the details. This is not meant as a slight — Congress quite […]
  • Auto Finance News
  • August 4, 2008
  • Archives

Wells Fargo Names Hurzeler to Head Auto Unit

Wells Fargo Auto Finance tapped its own ranks for a permanent replacement for former President Gary Lorenz. Bob Hurzeler, a 22-year veteran of parent company Wells Fargo & Co., was named to the post on June 12. Hurzeler reports to Dave Kvamme, president and chief operating officer of Wells Fargo Financial. Kvamme served as interim […]
  • Auto Finance News
  • August 4, 2008
  • Archives

Snags in GMAC’s Plan

Since posting a $2.5 billion second-quarter loss earlier this week, GMAC LLC has devised a series of moves meant to get it back on track. But in my estimation, the plan alienates both of its major customer groups: dealers and consumers. For starters, dealers will have to pay higher interest rates on their inventory financing. […]
  • Auto Finance News
  • August 1, 2008
  • Archives

Lenders Face Huge Losses From the Glut of Gas Guzzlers

Auto financiers are bracing for higher losses — and there’s little they can do about it. High-priced fuel has all but dried up the sale of sport-utility vehicles and light-duty trucks, causing resale values to tank. In some cases, borrowers are simply turning in their vehicles’ keys because they can no longer afford the monthly […]
  • Auto Finance News
  • July 31, 2008
  • Archives

Lenders Face Huge Losses From the Glut of Gas Guzzlers

Auto financiers are bracing for higher losses — and there’s little they can do about it. High-priced fuel has all but dried up the sale of sport-utility vehicles and light-duty trucks, causing resale values to tank. In some cases, borrowers are simply turning in their vehicles’ keys because they can no longer afford the monthly […]
  • Auto Finance News
  • July 31, 2008
  • Archives
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