Analysts are worried. They are worried that rising troubles in the mortgage industry could spill over into the auto loans industry. In a recent article on Autonews24h.com, Lehman Brothers financial analyst Brian Johnson said his analysis of auto loan-backed securities sold by Ford Motor Credit Co. (NYSE:F) and GMAC Financial Services (NYSE:GM) showed some higher […]
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Posted in Automotive, Financing, Recalls on Nov 16th, 2007
Nissan announced this thursday that it is recalling over 130,000 X-trail and Murano SUV’s because of a defect with their “Intelligent Keys”. A company spokesperson said that the lock device of the ignition key is not appropriately attached in some cars and it does not lock when the driver turns the engine off. No reports […]
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Posted in Automotive, Car Reviews, Financing on Nov 13th, 2007
Recently I had the pleasure of attending GM’s first unvailing of their 2-mode Hybrid full-size SUV’s. While I was there I had the chance to interview Bryan Nesbitt. Bryan comes of as a person who knows design. He better, cause he is Vice President of Design for General Motors in North America. He kindly gave […]
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In a bid to move remaining Pacificas, Crosfires, Magnum wagons, and PT Cruiser convertibles, Chrysler is offering huge discounts on remaining models. These particular models will be dropped from the line-up next year. Heavy incentives will be offere starting in late November, and going on through December. That last month of the year in particular, […]
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Posted in Automotive, Financing on Nov 8th, 2007
Well it seems there is no shortness of bad news for the General Motors Co. They just announced a $39 billion (!) dollar loss for their most recent quarterly results. Abysmal numbers in the face of such troubles at General Motors, especially with such promising models on the horizon. On top of all this GM’s […]
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Posted in Buying vs Leasing, Financing on Nov 6th, 2007
Cars.com has some advice I found helpful on how to get the best Interest Rate. They give you several primary factors that determine your interest rate: Your lender. Unless you borrow money privately, you’re going to be working with a bank, a credit union or an automaker’s financing arm. There are various pros and cons to […]
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Posted in auto loan, Automotive, Financing on Nov 5th, 2007
The 5 step process in getting and negotiating an auto loan. 1. Get pre-approved 2. Tell the loan counselor the type of vehicle you want and the amount you want to borrow. Remember that tax, title and tags will add to the price, so factor those costs in. 3. Negotiate the purchase price 4. Get […]
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Posted in Financing on Nov 4th, 2007
Now we all hear about refinancing your mortgage but Cars.com suggests refinancing your auto loan. “Ed Powell, chief consumer officer at LendingTree.com, says that it’s important to remember that consumers still have good opportunities to improve their auto loan terms via refinancing in any rate environment.” But they also warn you, “Refinancing isn’t for everyone, […]
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How much does your car cost? No, not just the purchase price, but the cost of ownership. Still confused? Well, Edmunds.com has just released their popular Truest Cost to Own list for October 2007. What does truest cost to own mean? Well this means which vehicles cost the least over the life of the car, […]
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The Federal Reserve Board today just announced at the 2:15pm EST update a decrease in the Fed’s fund rate by .25%, lowering the rate in which banks can borrow money on short term to 4.5%. This is the lowest since April 2001. Unless you have been under a rock, you see and hear about the […]
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