News By Topic: Credit Bureaus (Chrysler Credit, GMAC, etc.)

Toyota North American Operations will be More Self-Reliant

May 13, 2006

Washington DC May 12, 2006; The AIADA newsletter reported that Toyota's North American unit will operate with more autonomy from its Japanese parent as it strives to further its image as an American car company, reports Reuters. "The North American operations will have more authority and self-reliance over time," said ... Continue reading

AmeriCredit Resumes Automobile Lending in Canada

May 12, 2006

FORT WORTH, Texas--May 11, 2006--AmeriCredit has funded its first Canadian auto loan, taking the initial step to re-establish itself as a major competitor in the Canadian auto-lending market. The company has established its new Canadian offices for AmeriCredit Financial Services of Canada in Mississauga, Ontario. The c ... Continue reading

GM Finalizes First-Quarter Financial Results - Profitable!

May 9, 2006

GM Finalizes First-Quarter Financial Results Q1 Reported Net Income Revised to $445 million, or $0.78 Per Share GM North America Adjusted Loss Reduced to $462 Million Health-Care Settlement Costs to Be Recognized Over 7 Years DETROIT – General Motors Corp. today announced that it had finalized its first-quarter 20 ... Continue reading

GMAC Exercises Option to Purchase Capital Auto Receivables Asset Trust 2002-3

May 3, 2006

DETROIT – General Motors Acceptance Corporation (GMAC) announced today that it will exercise its option to purchase the remainder of the Capital Auto Receivables Asset Trust 2002-3 on May 15, 2006. This will result in a termination of all of the outstanding Capital Auto Receivables Asset Trust 2002-3 Class A-4 LIB ... Continue reading

Consumers Driving Their Way To Higher Credit Scores Thanks to AutoTrakk

Apr 25, 2006

MONTOURSVILLE, Pa.--April 24, 2006--AutoTrakk, LLC, a Montoursville, PA, based consumer finance company, has developed an innovative new program to offer short term leasing (2-3 years) through new car dealers to credit challenged customers on late model used cars. The AutoTrakk program incorporates weekly payments and ... Continue reading

Ford Motor Credit Earns $479 Million in the First Quarter

Apr 21, 2006

DEARBORN, Mich., April 21 -- Ford Motor Credit Company reported net income of $479 million in the first quarter of 2006, down $231 million from earnings of $710 million a year earlier. On a pre-tax basis from continuing operations, Ford Motor Credit earned $751 million in the first quarter, compared with $1.1 billion i ... Continue reading

Chrysler Financial Supports Marketing Launch of 2007 Dodge Caliber

Apr 20, 2006

Caliber Program Geared Toward Recent Graduates * Chrysler Financial introduces new 'First VIP' program for Caliber buyers * First VIP program available in dealerships through June 30 FARMINGTON HILLS, Mich., April 20 -- Chrysler Financial is supporting the launch of the all-new 2007 Dodge Caliber with a unique finance ... Continue reading

Industry Leaders Discuss National Consumer Education Campaign on Auto Financing

Apr 14, 2006

WHAT: In a groundbreaking effort, many of the largest players in the vehicle financing industry have joined forces on a major education initiative called AWARE (Americans Well-informed on Automobile Retailing Economics). Utilizing an arsenal of customer-education tools, AWARE's goal is to ensure that potential buyers o ... Continue reading

Shopping for Your First Set of Wheels? Take This Pop Quiz to Learn if You're Ready

Apr 6, 2006

Vehicle Financing Education Group Offers Help During National Financial Literacy for Youth Month in April WASHINGTON, April 6 -- Young adult first-time car or truck buyers often don't know where to begin when making what is likely the first major purchase of their lives, according to AWARE (Americans Well-informed on A ... Continue reading

GM Reaches Agreement to Sell Controlling Stake in GMAC

Apr 3, 2006

<em>Cerberus Led Consortium To Buy 51 Percent Of GMAC Equity GM To Receive $14 Billion In Cash Over Three-Year Period</em><p> DETROIT April 3, 2006; General Motors Corp. today announced it has entered into a definitive agreement to sell a 51-percent controlling interest in General Motors Acceptance Corp. (GMAC) to a co ... Continue reading

Investor Group Completes Acquisition of Majority Stake in GMAC Commercial Holding Corp.

Mar 23, 2006

GMACCH changes its name to Capmark Financial Group Inc. GMAC cash proceeds to total almost $9 billion after debt repayment DETROIT - An investor group led by affiliates of Kohlberg Kravis Roberts & Co. (KKR), Five Mile Capital Partners, LLC, and Goldman Sachs Capital Partners has completed the acquisition of a majority ... Continue reading

GM Is Selling Majority Interest in Part of Finance Division to Investment Group

Mar 23, 2006

, AP Auto Writer DETROIT March 23, 2006; Dee-Ann Durbin writing for the AP reported that General Motors Corp. said Thursday that it is selling a majority interest in its commercial mortgage division for $1.5 billion in cash to a private investment group. In addition to the cash payment for a 78 percent stake in the bus ... Continue reading

GMAC Sale On GM Board's Dance Card

Mar 7, 2006

DETROIT March 6, 2006; Dee Anne Durbin writing for the AP reported that General Motors Corp.'s board met for the first time Monday with new member Jerome York, an adviser to investor Kirk Kerkorian and an outspoken critic of the company's turnaround efforts. In its one-day meeting, the board was expected to consider GM ... Continue reading

AppOne Acquires Auto Finance Technologies

Mar 6, 2006

ORLANDO, Fla.--March 6, 2006--AppOne, a financial technology services company, announced today in conjunction with the Consumer Bankers Association Automobile Finance Conference and Trade Show that it has acquired Auto Finance Technologies, LLC, a provider of private label, Web-based software systems to financial insti ... Continue reading

GMAC Insurance Launches Insurance Discount Program

Mar 1, 2006

TROY, Mich.--Feb. 28, 2006--GMAC Insurance - Personal Lines today announced an exclusive insurance discount program available to all employees of eligible GM supplier partner companies. In this one-of-a-kind offering, approximately 14 million Americans may qualify for discounted insurance rates on their automobile and ... Continue reading