auto loans

Putting Consumer Debt Into a Bigger Perpsective

Before the Great Recession, U.S. consumer debt had risen fairly steadily for more than a decade. With the downturn, it finally dropped...until December's small rise. However, a longer look at the trend of ever-rising debt shows that America is still extraordinarily overextended.

Consumer Credit Rises Again: Is U.S. Releveraging?

After two years of relative frugality caused by the financial crisis, Americans are again borrowing in a big way. Consumer spending is surely good for the economy, but have Americans learned any lessons about loading up on the red ink?

Eight Car Buying Tips You Need to Know

Auto dealers and finance companies are beginning to loosen up the restrictions on consumer credit that helped to clamp down auto sales starting in...

Consumer Debt Jumps, But Credit Card Use Falls

U.S. consumers appear to be getting bit less frugal: The amount of consumer credit in use unexpectedly rose in October for the second straight month. But the whole rise came from non-revolving debt, which includes auto loans and personal loans, while revolving debt, which includes credit cards, plunged.

More Car Loans Go to Borrowers With Bad Credit

If you've been rejected for a car loan due to poor credit, you might want to apply again. The automotive credit industry increased the share of new car loans going to credit-challenged borrowers by 12.7% in the third quarter, a sign that lenders are loosening their credit criteria.

Consumers Borrow More for New Cars, Student Loans

Consumer credit unexpectedly rose by $2.1 billion in September, but the rise is only a partial victory for those who argue that credit expansion is required for the U.S. economy to return to a normal growth rate, because credit card debt fell for the second straight month. If that decreased plastic use continues this fall, it will likely weigh on retailers%u2019 holiday shopping revenue.

Consumer Debt Falls for Seventh Straight Month

Total consumer debt fell by $3.3 billion in August. And as in July, declining revolving debt, which includes credit cards, accounted for the entire drop. The trend could keep GDP in check, but long term, it's a positive development.

Toyota to Offer Rebates on Lexus Models to Boost Sales

Seeking to boost sales of Lexus brand vehicles, Toyota plans to offer rebates of up to $3,000, as well as subsidized financing on certain models, company executives told a gathering of Lexus dealers from across the country this week.

GM's a Day Away From Making Its Own Car Loans Again

General Motors will once again have its own in-house financing unit starting Friday, when the auto giant closes on its $3.5 billion purchase of AmeriCredit. The new unit, to be renamed General Motors Financial, will allow GM to offer consumers more financing and leasing options.

GM Looks Set to Report Another Profit

Three months after turning profitable since its bankruptcy, GM CEO Ed Whitacre is expected to report it made even bigger profits -- perhaps in excess of $1 billion -- during the second quarter when it releases its latest results on Thursday.

Consumer Credit Use Falls for Fifth Straight Month

Consumer credit use fell another $1.3 billion in June, the Federal Reserve said, as Americans once again kept their credit cards in their wallets. But the belt tightening was less than expected: Economists had predicted credit would contract by $5 billion.

Millions of Americans See Credit Scores Plummet

Millions of Americans are seeing their credit scores plunge. According to FICO, 25.5% of consumers -- roughly 43.4 million people -- have a credit score below 600, making them a poor risk for lenders, and making it hard for those consumers to get credit cards, auto loans and mortgages.

General Motors Looks to Outside Lenders for Auto Loans

It doesn't look as if General Motors will seek to establish its own in-house financing unit after all. The Detroit-based automaker is instead negotiating with major banks to broaden the availability of auto loans to consumers.

Car Dealers to Congress:
No Oversight, Please

The nation's car dealers are lobbying Congress to cut them a bargain in the new financial reform bill. Their aim -- to keep auto loans outside the purview of the new agency being created to protect consumers from financial services firms' abusive practices.