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Car makers reported tumbling sales across Asia and Europe on Monday as the recession drove buyers from showrooms and drew a warning of more gloom next year.
Dec. 1 (Bloomberg) -- Nissan Motor Co. ’s finance unit plans to raise $500 million in the first sale of auto-loan bonds in the U.S. since the Federal Reserve agreed to support the market.
Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat.
PROTON car dealers say they prefer easier loan approvals rather than cheaper loans to help drive sales. "The cheaper loan should not be at the expense of an easier loan approval.
As leaders from domestic automakers prepare to return to Washington this week to ask for government help, some local car dealership managers and owners are crossing their fingers for a miracle that will keep the car manufacturers afloat -- and help boost sales at their own lots.
The company's debt formula will be extended 90 days to Feb. 28. Executives at Dollar Thrifty Automotive Group Inc. said Monday the Tulsa-based rental car company has reached an agreement with its lenders to amend the terms of its senior secured credit facility.
In a sudden move late Friday night, Nov. 21, Twin Cities car dealership owner Denny Hecker announced he was closing immediately six local dealerships and selling three others.
It's not just the automakers who are looking for a helping hand. Empty showrooms are squeezing dealers and the Maryland Automobile Dealers Association is pushing a federal tax break for car buyers to spur sales. WYPR's Georgia Samios reports.
General Motors (GM) has said it is looking to sell and lease back some of its properties around the world to raise desperately needed funds. The move comes as the US car giant, along with Chrysler and Ford, thrashes out restructuring plans to send to Congress to get a $25bn (£16.3bn) loan.
- Official U.S. government site. Search for loans, grants and venture capital program.