Teaching Homeowners the Importance of DTI Ratios May 18, 2009
Back-end DTI ratio is based on all monthly debt payments combined, including the house payment, credit card payments, payments on auto loans, and other loan payments ... Auto loan or lease payments. (RealtyTimes)
New car shopping? Why the time is right, and why it's the right thing to do May 15, 2009
The higher your score, the more likely it is that you will be able to negotiate good finance terms for your auto loan. If you don't know what's on your credit report, find out before you head out to the dealer's lot. (Fairfax Chronicle, VA)
FTC Chair OK With Paying For Higher-Speed Broadband May 9, 2009
"Finally for those receiving those autmoatic auto loan calls ("this is your second notice. Leibowitz said the commission has just voted out a do-not-call violation suit against what he says is a major offender. (Multichannel News)
What do stress tests mean for me? May 8, 2009
The banks deemed healthy will likely be able to get lower interest rates on wholesale funding, which can be passed onto consumers in the form of lower mortgage and auto loan rates. The benefit would be for the creditworthy, of course. (San Francisco Chronicle -- Business)
Auto loan: SBT ties up with Hyundai May 7, 2009
THIRUVANANTHAPURAM: The State Bank of Travancore has signed a business agreement with Hyundai Motor to facilitate easy auto loan disbursals for the customers of the bank buying Hyundai cars. The agreement was finalized by SBT MD A K Jagannathan and Hyundai Motor senior VP Arvind Saxena. (India Times)
BMW India to roll out Roadster Z4 sports car May 4, 2009
The company has also roped in HDFC Bank the largest private player in the auto loan market as a preferred financier. It already has a tie-up with ICICI Bank for car finance. (India Times)
Voice of the People - May 3, 2009 May 4, 2009
Let's say that the household has a mortgage, a $15,000 auto loan and owes $18,000 in credit card or other debt ... That leaves at least $125,000 for the next stipulation which is that 50 percent of that is used to pay off any/all debt that you might have (auto loans, charge cards, medical bills etc. (Herald Online, SC -- Opinion)
Berkshire Hills Bancorp to Acquire CNB Financial Corp. Apr 30, 2009
Additionally, the margin was impacted by the elimination of the Federal Home Loan Bank dividend, mortgage and auto loan run-off, higher short-term investments, and a moderation in commercial loan demand. First quarter non-interest income decreased by $0. (Primezone Releases)
myAutoloan.com Shows Increase In Auto Loan Demand for First Quarter 2009 Apr 30, 2009
com Shows Increase In Auto Loan Demand for First Quarter 2009 ... com Shows Increase In Auto Loan Demand for First Quarter 2009 ... an online auto loan finance company, has seen a significant increase in customer auto loan applications for the first quarter of 2009 which has continued into the second quarter. (Yahoo News -- Press Releases)
Need a loan? Try a credit union Apr 20, 2009
Whether or not credit unions have changed their underwriting standards, many still experienced a decline in auto loans throughout 2008, like the larger banks and other lenders. The credit union financial reports released by the break out new and used auto loans, but there is no specific line item for boat loans ... Four of the five largest credit unions based in Jacksonville had declines in the number of total auto loans, ranging from 4. (Jacksonville Business Journal, FL)
Pay up or your car engine will stop Apr 18, 2009
While the devices have mostly been used in the subprime auto loan market, other lenders are looking closely at the technology, manufacturers say. It's no mystery why interest in the gadgets soaring: the creditworthiness of American consumers is declining as they lose jobs in record numbers and find it harder to tap into home equity. (CNN -- Tech)
Smart Credit Tips for a Recession Apr 10, 2009
Look at used vehicles instead of brand new to help keep costs down and get pre-approved for an auto loan before you hit the car lot. Bring cash for a sizeable down payment (up to 20 percent) and plan on getting a shorter-term loan. (Ontario Argus Observer, OR)
Southwest 66 Credit Union presents ‘Loan Foregiveness’ awards Apr 9, 2009
Other Articles in this Category. Most Commented Stories. (Odessa American, TX)
PNB hopes to keep growth Apr 8, 2009
Meanwhile, Malayan Banking Bhd head of consumer banking Lim Hong Tat sees growth in the banks credit card and auto loan financing business. We expect to outpace industry standards in terms of growth for these products, he said without elaborating. (The Star Online, Malaysia -- Business)
BoI launches scheme to finance Tata Nano car Apr 3, 2009
MUMBAI: In a move that will benefit loan seekers of the Nano, Bank of India said on Thursday that it has devised a scheme under which auto loan seekers will be granted a three-month moratorium on interest and principal payment. The scheme, meant for existing customers, will also not recover any upfront interest from the borrower. (India Times)
Ford, GM tout customer protection plans Apr 2, 2009
-based Ford said Tuesday it will pay auto loan payments of as much as $700 a month for up to a year on new Ford, Lincoln or Mercury vehicles ... As a part of the package, GM will make nine auto loan payments of up to $500 each if owners of new GM vehicles lose their jobs within the first 24 months of the loan. (Buffalo Business First, NY)
Read 'Cost of Freedom' recap Apr 1, 2009
I saw a deal done this week, $1 billion, one of those treasury plans, that is going to shove money into the auto loan sector. But also this week the jumbo loans are shutting down. (Fox News)
Seroquel user wants judge to unseal papers for FDA Mar 29, 2009
We Match Your Bad Credit W/ Our Auto Loan Pros. Apply Now Free. (Yahoo News -- Pharmaceutical Industry News)
UBS downgrades AutoNation Mar 22, 2009
for free extra services. Subscribe to South Florida Business Journal. (South Florida Business Journal, FL)
Booming Business For Car Repo Men Mar 21, 2009
CBS Evening News: Auto Loan Defaults Are On The Rise, Leaving Many Americans Car-less; But Some Companies Benefit ... The number of auto loans that have gone unpaid for 60 days hit a 10-year high in the last three months of 2008 - up 17 percent from the year before. (CBS News)
How to Refinance a Car Loan Mar 21, 2009
Refinancing Auto Loan Could Save Money ... From the E-Loan home page, click Start Now in the Auto Loans box ... When completing the Auto Loan Request form, select Refinance Vehicle from the What type of loan do you want. (Suite101.com)
INSIDE THE MARKETS: Comeback for car sales in Asia? Not yet Mar 19, 2009
A reduction in interest rates auto loan rates fell by about 2 percentage points last month also helped turn some of the pent-up demand into sales, they said. In China, many expect sales this month to reverse the surge from February, which had five extra working days compared with the previous February, when the Lunar New Year holiday occurred. (International Herald Tribune -- Business)
Pedata RV Shows RV Owners on Average are Excellent Credit Risks Mar 19, 2009
- Direct auto loan delinquencies fell from 1 ... - Indirect auto loan delinquencies increased from 3. (Yahoo News -- Press Releases)
Auto Loan Delinquency Rates Climb Nearly 9% Mar 18, 2009
Auto Loan Delinquency Rates Climb Nearly 9 ... NEW YORK -- The percentage of auto loans past due 60 days or more rose 8 ... Since the recession began in December 2007, auto loan delinquencies have jumped 25 percent, compared with a 10 percent increase in the 2001 recession, Turek said. (KFOXTV.com, TX)
Auto industrys other crisis Mar 18, 2009
Grant Thornton has also advised the White House that it should do more to stimulate new car sales, including the tax deductibility of sales tax and auto loan interest. Auto industry sales are now tracking at around 9 million for 2009, which is below the rate at which old cars and trucks are scrapped. (MSNBC -- Business)
Alaskans keeping up on car loans Mar 18, 2009
Since the recession began in December 2007, auto loan delinquencies have jumped 25 percent, compared with a 10 percent increase in the 2001 recession, Turek said. He expects the delinquency rate will rise to 1. (Anchorage Daily News)
Banks may charge higher booking rates for Nano Mar 12, 2009
MUMBAI: Banks may charge a differential rate for providing booking finance for the Nano with interest rates on booking finance being higher than auto loan rates for the car ... BoIs normal auto loan rates, that become applicable once the car is hypothecated to the bank and delivered, would be around 10-11. (India Times)
Tip of the day Mar 9, 2009
that this is the best time ever to buy a new car, but to qualify ahead of time for an auto loan and negotiate over the phone or email. . (The Palm Beach Post)
Eugene auto repos are on the rise as economy tanks Mar 8, 2009
We still love to make auto loans, though. The current wave of auto loan defaults is an entirely different beast than the ongoing flood of nationwide home mortgage defaults, according to local lenders ... The auto loans that are now resulting in repossessions just don t fall into the same category. (Ontario Argus Observer, OR)
EDIT: Think Ahead Mar 6, 2009
Some public sector banks responded recently, including SBI which cut home and auto loan rates. However, the RBI has itself pointed to slow credit growth. (India Times, India)
BoE cuts interest rates to 0.5 percent Mar 5, 2009
Need an Auto Loan Quote. Get Your Fast Free Quote Here. (Yahoo News)
UBI lowers auto loan rates Mar 1, 2009
MUMBAI: Close on the heels of State Bank of India interest rate cut on housing and car loans, Union Bank of India has lowered its mortgage and auto loan rates. A statement issued by th 00004000 e bank said that it has reduces rates of interest on new Home loans by 25-100 bps effective 1st March 2009. (India Times)
What You Need to Know Before Buying a Car Mar 1, 2009
Visit your local bank or credit union to discuss applying for an auto loan. Financing with the car dealer can sometimes be more expensive, so pricing out your options is a good idea. (Atlantic News-Telegraph, IO)
Credit scores aren't meant to be fair, but to gauge risk Mar 1, 2009
At that time I had a home mortgage, an auto loan and three credit cards with limits totaling $35,000 and balances that were paid in full monthly. Recently, I opened a new account to purchase a computer, and I paid down my auto loan by $6,000. (OregonLive, OR -- Business)
Life notes: What are you trusting in? Mar 1, 2009
That's why Americans are having such difficulty believing that the next economic stimulus package, the next bank bailout and the next big three auto loan program will actually change anything. These things are simply not compelling objects in which to place our trust. (Hanford Sentinal, CA)
HDFC Bank cuts interest rates Feb 21, 2009
"It seems the PSU banks are under pressure from the government. They are also not doing well in the small and medium enterprise segment. That is why they are aggressively pricing their auto loan products," said a banker from the private sector. Typically, auto loans from PSU banks are cheaper by 0 ... "When you price a product, you have to include the cost fund, operating cost and the losses you are likely to make. But what is happening is that while expanding their auto loan books banks are not... (India Times, India -- Intl Business)
Tips for Coping with the Credit Crunch Feb 21, 2009
You need to check your credit report regularly, and not wait until you'll be applying for new credit, like an auto loan, mortgage or even a credit card. Knowing what's on your credit report could mean the difference between getting favorable or less-than-favorable terms the next time you apply for credit. (Pekin Times, IL)
SBI offers auto loans at 10% Feb 21, 2009
State Bank of India offers auto loans at 10% for one year- Auto Loans News-Auto Loans-Loan Centre-Personal Finance-The Economic Times ... State Bank of India offers auto loans at 10% for one year21 Feb 2009, 0720 hrs IST, ET Bureau ... The new auto loan rate announced on Friday will be applicable only for new cars. (India Times)
How auto restructing will affect consumers Feb 18, 2009
A: Qualifying for an auto loan is more difficult than it was a few years ago, although some of the more stringent restrictions have been loosened ... In addition, auto loan interest rates have fallen slightly over the last year, Bankrate. (AZCentral -- Business)
Before Your 'I Do's,' Do Financial Review First Feb 17, 2009
Pool your earnings to pay off the highest interest debts first - his 9,000 credit card debt may actually cost you more in interest each month than her 14,000 auto loan. If you both are relatively debt-free, good for you. (Pekin Times, IL)
Obama faces tough choices on auto industry... Feb 16, 2009
Auto loan bill: http://financialservices. house. (The Drudge Report)
S K Goel, Chairman, UCO Bank Feb 16, 2009
Weve put special thrust on auto loan financing, followed by agriculture, housing and infrastructure sectors ... In auto loan, we plan to disburse Rs 2,200 crore ... Why are you emphasising so much on auto loan business. (India Times)
Even in slump, loan deals to be had Feb 16, 2009
By contrast, people with shakier finances - those with less-than-stellar credit or who can put little or no money down - may face difficulty in qualifying for an auto loan, if they can get one at all ... But because of the credit crunch, auto loan rates remain about where they were a year ago. (Boston Globe)
Gregg: Plan lacks 'bang for the buck' Feb 14, 2009
He cited the plan to increase from $200 billion to $1 trillion spending to purchase bad debt from bank books in credit card and auto loan debt and commercially backed real estate loans. "That's going to have a massively positive effect on freeing up the balance sheets of a lot of financial institutions to allow them to be more aggressive in their lending activities, by taking non-performing debt off their books," Gregg said. (MSNBC)
Auto financing traps Feb 14, 2009
Apply for an auto loan at your bank or credit union ... And your auto loan will probably have a relatively high interest rate since you are considered a "credit risk.". (CNN)
Tesla Expects to Get $350M in Government Funds Feb 12, 2009
"The Department of Energy has made no final decisions on specific applications for the auto loan program," said Department of Energy spokesman Phil West. The company also said it now expects to return to profitability by the middle of the year after its investors agreed to $40 million in new financing in December. (ABC News -- Wire)
Fraud case not yet reported in Richland County Feb 11, 2009
The false advertising comes from reports of Fortress Secured, Inc., offering a cash advance up to 1,500 and/or an auto loan, or a guaranteed 10,000 credit line and stored value credit. The company is not a lender, auto lessor or credit card issuer, according to Stenehjem's office. (Wahpeton Daily News, ND)
DOLLAR MEALS: MCDONALD's January sales up 7.1%... Feb 10, 2009
Receive free, no-hassle, no-obligation auto loan quote in seconds. Find Your Loan Today. (The Drudge Report)
Shinsei Bank Announces Measures to Strengthen its Consumer Finance Business Feb 8, 2009
In order to achieve this, APLUS is deploying the same best-in-class information technology methods used in Shinsei Bank's core operations to establish and promote an innovative, highly efficient "paperless" sales finance business and will continually upgrade its auto loan and other operating platforms to further enhance its presence in these markets. APLUS will also carry out a fundamental review of the fee structure and card issuance process for its credit card operations in order to improve... (JCN Network, Japan)
The bogus nature of bonus culture Feb 7, 2009
So there it is, if you're late with a $50 credit card payment, miss a $500 auto loan payment, or a $1,000 mortgage payment, you're thrown headlong into the land of the forever lost, where those poor souls without credit live out there tortured, forsaken lives. What if you lose one trillion dollars, which is only expected to be but a down payment on the more than two trillion more you are expected to lose in the next few years. (Asia Times Online)
Best Vehicles To Lease Mar 31, 2008
Auto loan payments, along with the remaining principal at 36 months, were calculated by assuming a 10% down payment and then using the national average (at the time of publication) auto-loan rate of 6. 97% for a 60-month loan. (Forbes)
High-tech gear disables car if borrower misses payment Mar 31, 2008
The device lowers default rates for subprime auto loan borrowers that typically run about 30% to about 5%, according to Simon. When default rates fall, lenders feel more secure offering financing for more valuable cars to high-risk customers. (USA Today -- Autos)
Auto Loan Refinance to Reduce Monthly Payments Mar 25, 2008
Consider refinancing your auto loan at a lower interest rate, and using the money you save to offset today's high gas prices. By refinancing your auto loan, you could get a lower interest rate, and a lower monthly payment ... "Many people don't realize that you can refinance your auto loan just like you can refinance your mortgage," says company CEO Chris Brown. (Boonville Daily News, MO)
Business • Focusing on your credit report Mar 23, 2008
$20,000 auto loan over a five-year period Consumer/APR/monthly payment/total interest Good credit history/4%/$368/$2,100 Bad credit history/9%/$415/$4,910 Difference: $2,810. $80,000 mortgage over 30-year period Consumer/APR/monthly payment/total interest Good credit history/4%/$382/$57,495 Bad credit history/9%/$644/$151,731 Difference: $94,236. (The Augusta Chronicle)
Use Auto Refinancing to Ease the Family Budget Mar 21, 2008
"Many people don't realize that you can refinance your auto loan just like you can refinance your mortgage," says company CEO Chris Brown. In fact, auto loan refinancing works very much like home refinancing, with one big difference - with the exception of a title transfer fee required by law, there are no costs for the consumer. (Canton Daily Ledger, IL)
Investing in a Post-Bear Stearns World Mar 19, 2008
Why You Should Avoid Panic, Pay Down Debt and Invest Overseas. By DAVID McPHERSON March 18, 2008 Font Size. (ABC News -- Business)
David McPherson on Personal Finance Mar 19, 2008
ABC News: Investing in a Post-Bear Stearns World. Net Gains: Investing in a Post-Bear Stearns World. (ABC News -- Business)
Mitsubishi Estate to Take Majority Stake in Sunshine City Mar 15, 2008
said Friday it is set to acquire a majority stake in Sunshine City Corp., the owner of the landmark building of the same name in the Ikebukuro commercial district in Tokyo (JCN Network, Japan)
Former neighbors describe man possibly sickened by ricin in Las Vegas as introvert Mar 4, 2008
In 1993, a civil judgment was entered against him for an unpaid auto loan of about 13,000 in Orange County, California. Associated Press writer Ken Ritter in Las Vegas contributed to this report. (Somerset Daily American, PA)
Record CDO Fees in 2007 Set Up Merrill, Citigroup for Biggest Writedowns Mar 3, 2008
As far as the asset-backed market is concerned, credit card and auto loan issues remain viable,'' he says. But the fees are a fraction of what you got in the CDO space. (Bloomberg)
Plastic's pitfalls Mar 3, 2008
Two years ago, the couple used a home equity loan to pay credit card and auto loan bills ... But an Equifax analysis shows that 38% of delinquent mortgage borrowers had kept all their credit card bills current, and 62% had kept all their auto loans current in the two-year period ending in July 2007 ... In the past, most people would pay late on their credit cards and auto loans before doing so on their mortgages. (USA Today -- Money)
Car loan deliquencies on the rise Mar 3, 2008
"We've been watching this over the past several years, and auto loan delinquencies have been steadily getting higher," said Keith Leggett, a senior economist with the American Bankers Association ... According to the American Bankers Association, direct auto loan delinquencies dropped a bit in the third quarter of 2007 to 1. (Concord Monitor)
Rate cuts won't mean loans will be easier to get Mar 2, 2008
Wariness among lenders and fears of inflation are keeping mortgage and auto loan rates close to or above levels before the central bank began easing while credit-card issuers are tightening their standards. With many households unable to borrow, "those transactions won't happen, and that missing activity is the missing economic growth," said Neal Soss, chief economist at in New York. (Boston Globe)
Auto, Home Purchases `Won't Happen' as Fed Cuts Don't Budge Consumer Rates Mar 1, 2008
Wariness among lenders and fears of inflation are keeping mortgage and auto loan rates close to or above levels before the central bank began easing, while credit-card issuers are tightening their standards. The slippage between the Fed's rate cuts and consumers' ability to borrow or reduce loan costs is weakening the central bank's ability to stimulate the biggest part of the economy, consumer spending. (Bloomberg)
Bad banking news and your checking account Feb 29, 2008
If you took out a loan with a bank, for example an auto loan or a mortgage, those interest rates and terms of interest remain the same regardless of the new bank. If no buyer can be found to take over the failed bank, customers are written a check with their deposit money within 48 hours. (CNN)
