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Archive for the ‘auto industry crisis’ Category

Auto Lenders Start to Loosen Lending Standards

Wednesday, September 30th, 2009

Is the worst of the financial crisis behind us? Well, I was skeptical, but now I am starting to believe.
Several auto lenders have recently announced friendlier loan guidelines, or they plan to by the first of the year. Lower interest rates, higher loan advances, lower acquisition fees. Slowly but surely, things are looking better.
As auto [...]

GM to File for Bankruptcy

Saturday, May 30th, 2009

According to several sources, General Motors will be filing for Chapter 11 Bankruptcy as soon as Monday, June 1st, 2009

Are Sub-Prime Auto Lenders Coming Back Soon?

Wednesday, May 20th, 2009

Most auto lenders have either changed their lending requirements or have gone out of business. Are things going to change soon?

GM to Close Thousands of Dealerships

Tuesday, April 28th, 2009

Lots of employees at GM Dealers are looking for work as GM gets ready to close the doors on thousands of dealerships.

Can I get a better deal buying a car in a down market?

Friday, March 6th, 2009

A recent customer asked us if they can get a better deal today than they could have six or twelve months ago. I often wonder (when I get questions like this) if I should just give them the short answer they WANT to hear, or if I should explain to them the truth, and risk [...]

What does Obama’s new stimulus plan mean to you?

Tuesday, February 17th, 2009

If you are going to buy a new car, the sales tax you pay will be completely deductible from your gross income. That is, if you bought the car after he signed the bill. If you bought a car yesterday, you do not get the same tax benefits. Sales tax from major purchases has only [...]

Do I have to prove my income for an auto loan?

Monday, February 9th, 2009

How does the current financial market affect you if you are looking for an auto loan? If you have good credit, it might only affect you if you have negative equity in your trade. If you do not have perfect credit, you can count on probably having to prove your income.

Prestige Financial Stops Doing Business in Washington State

Friday, January 23rd, 2009

Prestige Financial is no longer accepting auto loan applications in the State of Washington. Prestige was Washington’s leader in bankruptcy auto financing.

New Year, New Economy, New Auto Industry?

Tuesday, January 6th, 2009

What does 2009 mean for the American auto industry? Ford, GM and Chrysler will emerge as much stronger companies…if they survive.

Wells Fargo Goes Bye-Bye

Tuesday, December 30th, 2008

Wells Fargo pulls out of dealership auto lending. What does this signal for the future of one of the nations largest banks?

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