AUTO FINANCE NEWS & INFORMATION
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Sunday, July 27, 2008
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LATEST AUTO FINANCE NEWS:
Slowing US auto-finance market hits lenders
Strains are growing again in the US car finance market as a dramatic slide in used vehicle values and tightening credit conditions squeeze participants ranging from investors in auto loan-backed securities to finance companies and car buyers. Chrysler Says Lending Unit to End Auto Leases Aug. 1 (Update2) July 25 (Bloomberg) -- Chrysler LLC, hurt by plunging prices for used sport-utility vehicles, said its finance unit will stop offering leases to customers on Aug. 1. Chrysler Says Lending Unit to End Auto Leases Aug. 1 (Update1) July 25 (Bloomberg) -- Chrysler LLC, the automaker owned by Cerberus Capital Management LP, said it will no longer offer leases to customers through its finance unit. Chrysler's finance arm to stop lease offers Chrysler LLC said Friday its financial arm will get out of the auto leasing business by month's end because the economy has made it more expensive to lease than to buy. PRESS RELEASE: Fitch: New Criteria for German Finance Deals Fitch Ratings-London/Frankfurt-25 July 2008: Fitch Ratings has today updated its criteria for assessing tax risk in German structured finance transactions. Exeter Finance opens sixth branch Exeter Finance Corp., an Irving-based company that purchases and services subprime auto loans, has opened a sixth branch office in Manchester, N.H. Gas prices take a toll on car lease business Chrysler will stop offering the plans through its finance arm because truck and SUV resale values have plummeted. High gas prices are stalling the once-popular car leasing business. |







