Jackls

Detroit Uses Aid to "Open-Up" Auto Lending: Not Necessarily Good for GM

Markam, remember, GMAC said they would "accept" applicants with scores of 621. The call-back on these applications usually have so many "stips" i.e: more $ down, shorter term, lower loan -to-value, etc. that the lender can protect themselves to some degree. "Accepting" the app is only the first step in the process.

As Goes GM, So Goes U.S. Government Credit

Beginning a year ago, auto leases became history. All of the Detroit 3 captive lenders pulled out of leasing or made qualifying criteria much more difficult, with many of the regional lenders following suit. And, by the way, at its height, leasing only accounted for 21% of new vehicle sales. Even high-end luxury buyers/lessors are holding on to their current vehicles longer.


On Jan 04 08:21 AM casey00001 wrote:

> Rakesh, you are forgetting one important factor. The majority of
> cars are sold on a three year lease. When the lease is up, people
> usually secure another car again on a three year lease. Now there
> is credit available to do that. So your statement "the last thing
> they are worried about at this juncture is a new automobile." doesn't
> have any validity. When the lease is up they are going to get a new
> car. That is how American's shop for cars now a days.

8 Balance Sheet Accidents Waiting to Happen

Right on w/PAG. Trouble looming!

Toyota Raises Sales Forecast; Set To Topple GM

Interesting how they have accomplished so much in such a relatively short time. Just twelve years ago Toyota had just one half of GM's global sales. And, they did it focusing on quality, not numbers.