GMAC Wants More US Funding
28 Oct 2009, 13:20 UTC · By: Daniel Patrascu / For the third time in the last year, GMAC Financial Services is looking to secure US funding in an effort to raise its capital. The talks between GMAC and the US Treasury were confirmed by a White H...
NADA to Help Dealers Shift to GMAC
23 Oct 2009, 09:24 UTC · By: Daniel Patrascu / Following the announcement made yesterday by the US Treasury Department that the former financial arm of Chrysler, Chrysler Financial, will be closed by the end of 2011, the National Automobile Deal...
GMAC to Start Ally Dealer Rewards
29 Sep 2009, 09:41 UTC · By: Daniel Patrascu / GMAC Financial Services announced to day that starting October 1, dealers still working with them will be paid bonuses ranging from $50 to $100 for every contract for new and used cars, in an amount...
Chrysler Financial Loosens Terms for Dealers
24 Aug 2009, 06:41 UTC · By: Daniel Patrascu / After in mid-July Chrysler Financial announced it was toughening terms for dealers and asked them to pay large amounts of money to handle possible loan losses, the financial organization softened it...
Chrysler Financial Will Not Renew Financing Conduit
3 Aug 2009, 08:36 UTC · By: Daniel Patrascu / Chrysler Financial announced today it has sufficient funds to continue as an independent finance company on the auto retail market. Chrysler Financial says it is not going after the multibillion fun...
Chrysler Financial Toughness Terms
13 Jul 2009, 14:10 UTC · By: Daniel Patrascu / Even with the two largest domestic manufacturers out of bankruptcy, the ordeal of the dealers of both GM and Chrysler is far from over. The latest blow comes from Chrysler Financial, who has asked d...
GMAC Responds to GM's Sale Approval
7 Jul 2009, 06:46 UTC · By: Daniel Patrascu / Finance company GMAC has issued a somewhat ironic statement yesterday, in response to the bankruptcy's court approval of the GM asset sale. The bank holding commends the approval and explains w...
Dealers Can Apply for SBA Assistance
2 Jul 2009, 12:51 UTC · By: Daniel Patrascu / Finding themselves deserted by either Chrysler Financial or GMAC, the troubled US dealers finally get a good news, as they can now apply for the first federal program of loan guarantees for floor pl...
GMAC Rejects Chrysler Dealers
26 Jun 2009, 14:13 UTC · By: Daniel Patrascu / Bad news, once again, for the troubled American dealers... After last month GMAC extended interim inventory financing for Chrysler dealers, today the bank has announced it has suspended floorplan fi...
General Motors Gives Up on Dealers
28 Jan 2009, 11:53 UTC · By: Daniel Patrascu / American giant General Motors tries to escape the crisis' grip by adopting tough methods at all levels of its structure. Following this week's announcements of job cuts in the U.S. and sho...