Bad credit auto loan rate
AUSTIN, Texas (KXAN) — The auto industry is among the industries hardest hit by the sluggish economy. Sales plunged last month partly because credit is so tight that many potential buyers can no longer get loans. That is having a disastrous effect on this country’s car dealers.
U.S. Auto Shares Plunge on a Grim Sales Forecast (New York Times)
A dire new forecast for global vehicle sales battered the shares of auto companies on Thursday, particularly General Motors, whose stock plunged more than 31 percent.
Credit crunch hasn t hit area car dealers yet (West Salem Coulee News)
Local auto dealers say that Coulee Region customers have not faced insurmountable hurdles in qualifying for new car loans and that new car sales have not dropped off drastically.
ECONOMY ON EDGE: Car loan fears clobber U.S. auto stocks (Detroit Free Press)
U.S. auto stocks sank to historic lows Wednesday, as investor fears about credit availability and the weakening global economy combined to produce a stunning sell-off of Ford Motor Co., General Motors Corp. and dozens of other auto stocks.
Regions Bank Lowers Rates, Cuts Auto Loans (CBS 42 Birmingham)
Regions Bank cut its prime rate by a half-point on Thursday to 4.5%. That rate is the standard used for most loans and credit lines.
Regions cancels auto dealer loan program (Knoxville News Sentinel)
A bank with a large presence in East Tennessee has stopped outsourcing its auto loan process to car dealers. Birmingham, Ala.-based Regions Financial Corp. has eliminated loan programs offered to at least 2,600 dealerships across the nation, in which dealerships pre-authorized loans from the bank, according to published reports.
Will Washington Auto Loans Stall Out? (Forbes)
GM might not qualify for the $25 billion loan pot.
AIG may sell Hawaii unit to pay federal loan (KHNL News 8 Honolulu)
HONOLULU (AP) - American International Group Inc. may sell its AIG Hawaii unit to pay off an emergency $85 billion federal loan. The local unit is part of the AIG Personal Auto Group, which the New York-based insurer has listed for sale.
