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Published: Monday, October 20, 2008 at 3:15 a.m. Last Modified: Monday, October 20, 2008 at 7:11 a.m. Misty Johnson sat patiently in the waiting area of the Farrell Kia showroom as the Spartanburg auto dealer tried to secure a loan at Johnson’s desired payment of $450 a month for her new car.

Kerkorian s Ford Exit Sparks Fear of Failures at Big Three (New York Times)
One of the biggest boosters of the American auto industry said Tuesday that he was bailing out of his large stake in the Ford Motor Company a stinging no-confidence vote that raised the anxiety level in this city over the deepening troubles of the Big Three car companies, The New York Times s Bill Vlasic writes.

Mich. senator may seek added $25B in auto loans (AP via Yahoo! Finance)
Michigan Sen. Carl Levin said he may seek an additional $25 billion in loans for the auto industry before the end of the year, citing deteriorating economic conditions for Detroit’s car makers.

GMAC crackdown may limit buyers, dealers (Los Angeles Daily News)
The head of the California Auto Dealer Association has warned that as many as 40 percent of California consumers wouldn’t qualify for an auto loan under stricter guidelines announced last week by GMAC and that many General Motors Corp.

Auto financer finds better fit (The Oklahoman)
Express Credit Auto has moved from 4000 N May Ave. to a new 37,000-square-foot facility at 4810 NW 39. Express Credit Auto is a dealer-controlled automobile finance company. Express Credit Auto has originated more than $100 million in auto loans since 2005. WALMART OPENS VOTER GUIDE Walmart shoppers can now hear from the presidential candidates through a new online initiative. Walmart Stores …