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GMAC 3.9% APR Financing Offered for Well-Qualified Buyers on Chevrolet Impala and Silverado, Pontiac G6 and GMC Sierra Models
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GMAC Financial Services today confirmed that it is in discussions
with federal regulatory authorities regarding, among other things,
seeking bank holding company status under the Bank Holding Company Act
of 1956, as amended.
As a bank holding company, GMAC would obtain increased flexibility
and stability to fulfill its core mission of providing automotive and
mortgage financing ...
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Rising delinquency rates on car and truck loans have
some industry analysts concerned that subprime mortgage troubles
could spill into the U.S. automotive finance business.
In a note to investors Monday, Lehman Brothers 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 ...
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GMAC Financial Services said Wednesday it will cut
about 3,000 jobs, or 25 per cent of the workforce at its Residential
Capital LLC mortgage operation.
The financial services company, partly owned by auto giant
General Motors Corp. (NYSE:GM), blamed the cuts on ``sharp downturns
in the U.S. residential real estate markets and the global
dislocation of ...
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ROCHESTER, Mich. (AP) _ Honda Motor Co.'s top U.S. executive said
Friday he would like to see the U.S. Federal Reserve cut interest
rates further to keep the American economy going.
John Mendel, executive vice-president of automobile operations,
also predicted that the U.S. auto market will stabilize around 16
million vehicles sold this year because ...
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General Motors Corp.'s lending arm, GMAC Financial Services, has told employees that it is targeting Nov. 30 as the closing date for the sale of a controlling stake in the unit to a group of investors.
GM agreed to sell 51 per cent of GMAC to a consortium led by ...
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New Car LoanBy: Michael Bailey Buying a vehicle is one of the most important decisions you can make. You may already know which automobile you want and there is no debate about the color. The decision-making lies in finding a good new car loan. You don’t need to do ...
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Free Online Credit ReportBy: Aron Russell Taking charge of your own credit is an important step to ensuring a strong financial future. Something that everyone should do occasionally regardless of their credit history is to take a look at their free online credit report. A free online credit ...
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TORONTO (CP) _ TD Bank Financial Group (TSX:TD) declared victory
Wednesday in its $326-million takeover of VFC Inc. after about 90
per cent of the used-car loan company's shareholders tendered into
its bid.
The Toronto-based bank said VFC (TSX:VFC) stockholders holding
about 15 million common shares have accepted its offer. Following
compulsory-acquisition rules, it now will ...
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DEARBORN, Mich. (CP) _ Ford Credit Canada Ltd., a subsidiary of
Ford Motor Co. (NYSE:F), says it has sold a number of its auto loans
for $1.2 billion Cdn.
The deal, with an unnamed financial institution, is ``the first
whole-loan sale of a portfolio of retail instalment sale
contracts,'' the company announced late Thursday.
Ford Credit ...
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RED DEER, Alta. (CP) _ Auto repair finance specialist Rifco Inc.
(TSXV:RFC) warned Wednesday that it expects to book a $300,000 net
loss or two cents per share in 2006 but expects to turn a profit in
2007.
Revenue for fiscal 2006, which ends March 31, is expected to come
in at $3.8 million.
Rifco's said ...
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TORONTO (CP) _ Auto loan provider VFC Inc. (TSX:VFC) has posted a
65 per cent profit boost in its latest fourth quarter on the heels
of a $326-million takeover offer by TD Bank (TSX:TD).
The Toronto financing firm said Tuesday its profit for the
quarter ended Dec. 31 amounted to 23 cents per share ...
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TORONTO (CP) _ Car loan company VFC Inc. (TSX: VFC), which endorsed a $326-million takeover bid by TD Bank last week, has signed up General Motors Acceptance Corp. of Canada as a strategic partner.
A new agreement will see customer applications that don't qualify ...
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