Car dealerships reeling from economic downturn (Atlanta Journal-Constitution)

One in 30 new-car dealerships will be out of business by the end of the year, with 1,000 more expected to fail in 2009. A dozen of those failed dealerships have Georgia roots. One of the nation's largest Chevrolet dealers, Bill Heard Enterprises, closed 14 of its dealerships, including four metro Atlanta locations, leaving employees and customers dazed and stranded. The disturbing trend shows ...

Judge gives DC transit relief on $43M loan payment (San Francisco Chronicle)

A federal judge has granted temporary relief to the Washington area's transit agency after a Belgian bank threatened to immediately collect $43 million on a loan. KBC Group requested the money following the collapse of insurance giant American International...

Pininfarina to Meet With Creditors on Debt Plan, Sole Reports (Bloomberg)

Oct. 31 (Bloomberg) -- Pininfarina SpA , whose car designs include the Ferrari Testarossa and Alfa Spider, will meet today with creditors and its adviser as it seeks more time to pay back debt of 600 million euros ($762 million), Il Sole 24 Ore reported, without saying where it got the information.

(AFX UK Focus) 2008-10-29 16:41 UPDATE 2-EU backs car industry call for soft loans for R&D (Interactive Investor)

BRUSSELS, Oct 29 (Reuters) - The European Commission on Wednesday backed a call by Europe's carmakers for 40 billion euros ($50.98 billion) in soft loans to help develop cars which meet toughening European Union CO2 emissions targets. "Loan subsidies could be provided via the European Investment Bank," EU Industry Commissioner Guenter Verheugen said after meeting auto industry chief executives ...

Sales at Columbia used-car dealership drop (Columbia Missourian)

COLUMBIAâ€"Six months ago, Ashland Auto Sales was selling 20 to 30 used cars a week. Today, the used-car dealership off Business Loop 70 is selling about half that number, thanks in part to fluctuating gas prices and stricter loan requirements. "In this slow economy we have small profits, and some cars have been here a while, so we are losing some money," said Mohammed Diab, owner of the ...

(AFX UK Focus) 2008-10-29 17:40 UPDATE 3-EU backs car industry call for soft loans (Interactive Investor)

BRUSSELS, Oct 29 (Reuters) - EU Industry Commissioner Guenter Verheugen has backed a call by Europe's carmakers for soft loans to help develop cars which meet toughening European Union CO2 emissions targets. The European Automobile Manufacturers Association (ACEA) wants a 40 billion euros ($51 billion) soft loans package to help it develop EU-required green technologies. "Loan subsidies could be ...

City Loan Now Serving Clients Through Pay Day Advance Locations (GlobeNewswire via Yahoo! Finance)

LONG BEACH, Calif., Oct. 29, 2008 -- City Loan, Inc. , in a drive to increase their product distribution, announced today an alliance in the pay day advance market that is projected to be another strong revenue stream.

(AFX UK Focus) 2008-10-29 11:07 EU carmakers to press call for 40 bln euro EU loan (Interactive Investor)

BRUSSELS, Oct 29 (Reuters) - European carmakers will press their call for an EU loan of 40 billion euros ($50.98 billion) to help develop greener cars in a meeting with the bloc's executive on Wednesday, their industry association chief said.

Sales decline, weak economy hit U.S. car dealers (Reuters via Yahoo! UK & Ireland News)

Auto retailers swung to a quarterly loss in the third quarter, beaten down by the decline in U.S. car sales, tight consumer credit, and a weakening U.S. economy as well as hurricane-related damages.

Examining the technical and sentiment backdrop for an auto-loan company (Schaeffers Research)

The shares of AmeriCredit Corp (ACF: sentiment, chart, options) plummeted this afternoon to a 5-year low, after the U.S. auto-finance company warned that it may not be able to repurchase receivables and forecast higher credit losses, raising liquidity concerns...( Read More )

Allahabad Bank eyes 20% loan growth, 17% rise in deposits in FY'09 (Deepika)

Kolkata, Oct 03 (UNI) Allahabad Bank, one of the forerunners among the country's public sector banks, is eyeing a loan growth of 20 per cent and 17 per cent increase in deposits during the current fiscal.

US Rescue Plan Could Help Auto-Loan Cos - Rep. Barney Frank (Nasdaq)

WASHINGTON -(Dow Jones)- The chairman of the U.S. House Financial Services committee said Friday that ailing auto-loan companies will qualify for aid under the government's $700 billion Wall Street rescue plan.

Subaru Ups Law Enforcement Street Cred With STi Police Car [Subaru STi Police Car] (Jalopnik)

Though not as exotic as last week's Lamborghini Gallardo police car, the Itasca, IL police department has taken possession of a cruiser that's no less unusual: A Subaru WRX STi. The cop Scooby, our...

Consumer Financial Gain From Clean Car Standard (PR Newswire via Yahoo! Finance)

Today, the Consumer Federation of America released an analysis of the benefits to Florida consumers of adopting the California Clean Car Standard that will be filed on behalf of the Florida Consumer Action Network with the Environmental Regulation Commission .

What a $25B auto loan might buy (CNN Money)

President Bush may be set to sign into law $25 billion in low-interest loans to help automakers and auto parts suppliers make fuel-efficient vehicles, but don't expect a rush of new hi-tech ultra-clean cars.

The squeeze on getting a car loan (CNN Money)

A massive pile-up in the credit markets is causing serious congestion for new car buyers who want financing, according to industry observers. But some dealers say they're still able to work out deals.

Auto Review: 2009 Audi A4: A car designed to fit the driver (Market Watch)

Every once in a while over the years you get a test car that just fits right. When you first crawl into it, you have the feeling that this car was made for you.

J.D. Power and Associates Reports: Leveraging Loan Officer Relationships is Key to Providing High Levels of Customer ... (PR Newswire via Yahoo! Finance)

In the current economic situation, improving the relationship between loan officers and mortgage customers is critical to customer satisfaction, according to the J.D. Power and Associates 2008 Primary Mortgage Origination Satisfaction Study released today.

Consumers sometimes need professional help to qualify for a loan (Los Angeles Daily News)

At a time when even a blemish on a credit report can doom a car loan or a line of credit, consumers are flocking to credit repair companies for help in repairing the damage.

BANK THAW ENDING BORROW SORROW (New York Post)

To loan seekers in Manhattan last week, the credit crunch seemed nowhere to be found. Despite reports that bank lending is at a standstill, a collection of banks in New York was willing and able to lend money to qualified borrowers for car, boat...

They've raised the bar if you're after a loan (Independent)

In the midst of a banking crisis, your credit score is king. As loans become harder to obtain and more expensive, consumers can't afford a record of missed repayments or unpaid bills on the files held by the credit reference agencies. A low score will make it tough to secure an advance for a car or house. A high one, on the other hand, could be a passport to the little cheap credit that is ...

GE Money to cut 80 NZ jobs (The New Zealand Herald)

The credit crunch is forcing GE Money to pull back from the home loan and car finance markets - with the loss of 335 jobs. The Australasian financier says the cost of wholesale funds means these businesses are no longer viable.

Despite Tough Credit Market, Car Dealers Offer Deals (FOX 5 Washington D.C.)

The credit market crash is making it nearly impossible to score a loan, especially when it comes to buying a car. But there are still some deals around town right now, and FOX 5's Stacey Cohan says if you think you won't get approved, you might want to think again.

Both sides wage battle in payday loan issue (The Elyria Chronicle-Telegram)

COLUMBUS â€" Ohio’s battle over payday lending is officially on. The issue has qualified for the ballot, and opponents of a law that puts tough restrictions on the payday loan industry have raised $15 million in their campaign to repeal it. They say the law will kill 6,000 jobs statewide and rob economically [...]

Car dealers face a tough month (The Bakersfield Californian)

October's been a scary month for Bakersfield's new car dealers. Spooked by the economy, volatile gas prices and political uncertainty, consumers are turning away from generous sales offers and forgoing a trip to the auto mall. Over the first 23 days of this month, only 700 people applied for car loans at the city's biggest auto lender, Kern Schools Federal Credit Union. That's almost a quarter ...

Mortgage rates falling, but can you get a loan? (WBTV Charlotte)

SALISBURY, NC (WBTV) - Mortgage rates are falling in the US. This week interest rates for 15 and 30 year mortgages dropped to a five week low, that's the good news, the tough part may be getting approved for a mortgage loan.

Economy leaving car dealers in the dust (The Philadelphia Inquirer)

All roads of economic turmoil have intersected these last few weeks at the feet of 63-year-old Tony Costello: Lifelong car salesman, workaholic, holder of an unexpectedly anorexic 401(k) and, now, soon to be unemployed.

GE Money pulling the pin on NZ market (The New Zealand Herald)

GE Money is withdrawing from the home loan, car finance and small business market in New Zealand. The finance company is stopping new mortgage lending and lending on vehicles and will lay off 80 staff, TV3 reported. Existing customers will continue to be serviced.

Economy leaving car dealers in the dust (Philly.com)

All roads of economic turmoil have intersected these last few weeks at the feet of 63-year-old Tony Costello: Lifelong car salesman, workaholic, holder of an unexpectedly anorexic 401(k) and, now, soon to be unemployed.

Seven Ways The Financial Crisis Will Affect Car Buyers [Wheeling And Dealing] (Jalopnik)

The most cliched phrase so far during this financial crisis has been "what happens on Wall Street affects Main Street," and nowhere is this truer than for that large car dealership located on Main...

Credit squeeze hits car sales (Calcutta News)

Retail car sales by the Indian automobile industry have been hit hard by the squeeze on retail financing as banks have stopped hardselling car loans in the current economic climate, say auto industry representatives.

September car sales plunge (The Tennessean)

U.S. auto sales slid 27 percent in September from the same month last year, the industry's worst performance since February 1993, analysts said, and Nissan North America felt more pain than any other car maker.

Where Can I Get a Car Loan? (WMBD - FOX 43 Peoria)

WMBD/WYZZ TV â€" PEORIA -- National news outlets say struggling car dealers are blaming banks for not giving out loans. With less money in accounts, big branch banks are being more cautious about giving out car loans. But how is Central Illinois fairing?

$185.3m paid out in cash-for-car scheme (Channel NewsAsia)

SINGAPORE: The Land Transport Authority (LTA) has so far paid out S$185.3m in cash rebates to motorists who want to scrap their cars. The payout is part of a scheme started in September for motorists to give up their cars for public transport.

US carmakers forced to wait for $25bn 'green' loan (Times Online)

America’s struggling carmakers are to receive a $25 billion (£14.1 billion) loan from the Government to help to fund the cost of making more fuel-efficient vehicles. However, they will have to wait for the money.

Kerkorian’s Ford Exit Sparks Fear of Failures at Big Three (New York Times)

One of the biggest boosters of the American auto industry said Tuesday that he was bailing out of his large stake in the Ford Motor Company â€" a stinging no-confidence vote that raised the anxiety level in this city over the deepening troubles of the Big Three car companies, The New York Times’s Bill Vlasic writes.

A Loan Fit for the Countryside (New York Times)

The Department of Agriculture?s Rural Development Agency, which was established to help to raise the economic standing of those living in outlying communities, is making mortgages at a pace unseen in recent years.

City Loan Reaches Core Customer Base Through Alliance With Pawn Shops (GlobeNewswire via Yahoo! Finance)

LONG BEACH, Calif., Oct. 21, 2008 -- City Loan, Inc. announced today that the company has forged a key relationship with Abes Pawn Shop in Santa Clarita, California. The partnership is intended to increase City Loan's exposure to the market without opening brick and mortar locations and increasing overhead.

Car dealerships facing tough times (Moldova.org)

U.S. automobile dealers report the credit crunch and consumers' switch to fuel-efficient vehicles are cutting sharply into business.Most car dealers were down 30 percent last month, and that is a catastrophe, Ray Ciccolo, owner and chief executive officer of Village Automotive Group told USA Today.The National Automobile Dealers Association said out of 20,000 new car dealerships 61 either closed ...

Money for car loans is still plentiful, local dealers say (The Wichita Eagle)

Public perception drove Roger Scholfield to set the record straight with an ad in Sunday’s Eagle: There’s money available to buy a new or used car in Wichita. “I started having people ask me casually, ‘Gosh, you don’t have any money to loan for a car. I keep hearing on CNBC and CNN that car dealers aren’t doing car loans,’ ” said Scholfield, president of Scholfield Honda in Wichita. ...

Era of easy credit apparently over (The State)

Adrian Clark, a St. Louis-area steamfitter, recently went 10 dealerships looking for a car to commute to a new job. But every one offered a variation: Without $1,000 for a down payment, no loan. “It’s just rough times right now,” Clark said. “Rough times.” For Clark, and for a nation of consumers heavily dependent on credit, there are growing signs those rough times could prove to be more than ...

Auto dealers say credit available, if they can just get buyers through the door (Spartanburg Herald-Journal)

Published: Monday, October 20, 2008 at 3:15 a.m. Last Modified: Monday, October 20, 2008 at 1:34 a.m. Misty Johnson sat patiently in the waiting area of the Farrell Kia showroom as the Spartanburg auto dealer tried to secure a loan at Johnson's desired payment of $450 a month for her new car.

Auto dealers say credit available, but no buyers (Spartanburg Herald-Journal)

Published: Monday, October 20, 2008 at 3:15 a.m. Last Modified: Monday, October 20, 2008 at 7:11 a.m. Misty Johnson sat patiently in the waiting area of the Farrell Kia showroom as the Spartanburg auto dealer tried to secure a loan at Johnson's desired payment of $450 a month for her new car.

UAW rides McCain on car claims (Detroit News)

UAW President Ron Gettelfinger on Sunday once again accused John McCain of less-than-straight talk on the issue of buying American-made cars, after Newsweek magazine reported that the McCains own at least three foreign-made vehicles.

Wall Street Woes Trickle Down To Triad Car Sales (WXII-TV Winston-Salem)

Banks across the country are facing issues with loan repayments, and the trickle-down effect could play a major factor for anyone looking to buy or lease a new or used car in the Triad.

AvtoVAZ seeks state loan to offset weak sales-paper (Reuters via Yahoo! Singapore News)

MOSCOW, Oct 17 (Reuters) - Russia's largest car maker, AvtoVAZ , has asked the state-run VEB bank for a $1 billion loan to compensate for shrinking sales hit by the credit crisis, a Russian newspaper reported on Friday.

Economy Leaving Car Dealers in the Dust (HispanicBusiness.com)

PHILADELPHIA -- All roads of economic turmoil have intersected these last few weeks at the feet of 63-year-old Tony Costello: Lifelong car salesman, workaholic, holder of an unexpectedly anorexic 401(k) and, now, soon to be unemployed.

Consumer Loan Ratings (The Springfield News-Leader)

Springfield financial institutions quoted the following rates Friday for home equity, auto and boat loans. The home equity rate is based on a $10,000 loan or line of credit with applicable points included. Rates are variable unless otherwise noted. Additional fees are not included. The auto loan rate is based on a 48-month contract for a new car. The boat rate is based on a loan for a new boat.

Omaha car dealer planning to close in December (Lincoln Journal Star)

OMAHA â€" An Omaha car dealership is going out of business. Lithia Ford in south Omaha has informed the city it will close on Dec. 16. Federal law requires companies with more than 100 employees to provide 60 days notice of their intent to close.

(AFX UK Focus) 2008-10-14 18:28 UPDATE 1-Selldown of Schaeffler's 16.1 bln eur loan on hold (Interactive Investor)

LONDON, Oct 14 (Reuters) - Syndication of the 16.1 billion euros ($21.92 billion) loan backing the bid by ball bearings maker Schaeffler for German car parts manufacturer Continental has been put on hold, senior bankers said on Tuesday.

Honda's hydrogen car is smooth but has hindrances (San Francisco Chronicle)

For years, hydrogen fuel cell vehicles have been the far-off technological bets of the auto industry _ the car that holds the promise of gasoline-free driving. Honda Motor Co. is starting to give a small number of drivers a glimpse into the future. The Honda...

Honda's hydrogen car is smooth but has hindrances (Lexington Herald-Leader)

For years, hydrogen fuel cell vehicles have been the far-off technological bets of the auto industry - the car that holds the promise of gasoline-free driving. Honda Motor Co. is starting to give a small number of drivers a glimpse into the future. The Honda FCX Clarity debuted in July, and the automaker is leasing about 200 of the cars to customers in Southern California during the next ...

Icelanders Sink Under Foreign-Currency Loans as Krona Plunges (Bloomberg)

Oct. 14 (Bloomberg) -- Karl Karlsson, a Reykjavik taxi driver, has canceled his winter vacation. The money he saved is being eaten up by his car loan payment, which has jumped more than 20 percent since June.

Mortgage rates, car loans hit by credit crunch (CBC)

While central banks in many industrialized countries chop short-term interest rates to boost economic growth, what it costs to borrow money to buy a house or a car will likely rise in the coming months.

Councilman looks to crack down on title loan companies (WMCTV Memphis)

In the tough economic times, some people are turning to pay-day loan agencies to make ends meet. But Memphis City Councilman Bill Morrison has a plan to keep them from becoming a fast growing problem.

Need a new car? Hard-to-get money for loans is still out there (Orlando Sentinel)

Question: I really need a new car and have saved up a good down payment, but I'm concerned I won't be able to get financing. Advice would be appreciated, because I really don't want to buy a used car again.

Worried you won't be able to get a new car? Here's some tips for buying, leasing during credit crunch (The Flint Journal)

Flint Journal extras • The average interest rate for a 60-month auto loan on Thursday in Michigan was 6.53 percent, according to Bankrate.com. That means someone with a $22,000 loan for five years would pay $430.76 monthly to pay off...

Sallie Mae Offers Tips, Tools for Successful Student Loan Repayment (Centre Daily Times)

Another important milestone is approaching for last spring's college graduates - at least those who took out student loans. As the end of the six-month, post-school student loan grace period approaches, Sallie Mae offers tips and tools to help newly minted alumni begin student loan repayment and build a healthy credit history.

GM ad blitz to tout car loan options (Sun-Sentinel)

With October auto sales expected to fall short of September's 15-year low, General Motors Corp. is launching a campaign this week to reach people who have stopped looking for cars out of fear that they can't get a loan.

Tesla's Musk to Lead Electric-Car Maker, Trim Jobs (Update2) (Bloomberg)

Oct. 15 (Bloomberg) -- Tesla Motors Inc. Chairman Elon Musk , the main investor in the electric-car maker, plans to take over as chief executive officer, cut jobs and delay a second model because of the global financial crisis.

PNB cuts home, car loan rates by 0.5% (The Economic Times)

Punjab National Bank (PNB) on Tuesday decided to reduce the interest rates by 50 basis points on housing and car loans, becoming the first lender to announce a rate cut amid series of liquidity injection measures by the Reserve Bank of India (RBI) and the government.

CNN Tells You How to Buy a Car - Even Now (The Auto Channel)

Washington DC October 7, 2008; The AIADA newsletter reported that auto dealers are hungry for customers: Worried consumers are putting off buying big-ticket items, and buyers on the market are finding it harder to get a loan.

EU carmakers call for 40-billion-euro loan package (EARTHtimes.org)

Brussels - Europe's carmakers Monday asked governments to provide them with a 40-billion-euro (54-billion-dollar) loan and to approve an incentives scheme for the scrapping of old vehicles to help them develop more environmentally-friendly vehicles a...

EU car loan call puts spotlight on CO2 costs (Environmental News Network)

Reuters, 10 October 2008 - European car makers are probably using their call for 40 billion euros ($55 billion) of loans from the European Union to develop green vehicles as a lever to enter talks with the regulator regarding CO2 legislation, analysts say.

Accused 'wanted loan to fund plot' (ic Lanarkshire)

An alleged terrorist plotter wanted a bank loan to fund car bomb attacks in Glasgow and London, a court has heard. Bilal Abdulla, 29, considered loans, Isas and credit cards as a means of bankrolling the plan, a jury was told.

No way out of student loan trouble (Santa Fe New Mexican)

Photo: Lora Ladd, 22, of Seattle found out the hard way that college student loans can become an unmanageable burden. After she failed to make payments on a $30,000 loan, her debt grew to $52,000, with a payment load of nearly $700 a month.

Valley National bucks trend, stays in auto loan market (The Record)

Valley National Bank remains committed to automobile lending, even as some lenders are pulling away from the increasingly risky business. "We are not cutting back,'' said Chief Executive Officer Gerald Lipkin on Monday in a phone interview. "We are making car loans."

Cars For Girls: THE IN'S & OUT'S OF CO-SIGNING A CAR LOAN (The Auto Channel)

An unfortunate thing about being a teenager or a young adult is you're just not always taken very seriously. So attempting to make important decisions, like buying or what's also called financing a car, can be a difficult road to navigate.

Obama in Toledo: Double loan guarantee for U.S. automakers (Detroit News)

TOLEDO -- Barack Obama's top economic adviser signaled Monday that an Obama administration might step in to prevent the failure of one of the three domestic carmakers, and called on Congress to double the $25 billion loan-guarantee package for car companies it passed last month.

Squeeze hits car loans; Local dealers say funds available for good credit (The Pantagraph)

The era of easy auto loans is skidding to a halt. Mortgages were among the first consumer products to be hit by the credit-market freeze. Now car loans and leases are drying up as dealers, auto-finance companies and other lenders are having trouble finding money to lend to car buyers.

Credit Crunch Has Lenders Tightening Loan Qualifications (FOX 5 News Atlanta)

ATLANTA (MyFOX ATLANTA) â€" The credit crunch that has arisen out of the foreclosure crisis is affecting many Georgians. It's now much tougher to get a loan with anything less than a perfect credit score. So, what qualifies as good credit now?

Auto industry given $25 million loan for hybrid production (Central Michigan Life)

The U.S. House of Representatives approved $25 million in loans last month to help auto industries produce advanced car batteries as well as work on gas-electric hybrid vehicles. The goal of the loan is not only to help stimulate the economy but to help protect the environment as well.

EU Car Loan Call Puts Spotlight on CO2 Costs (Planet Ark)

PARIS - European car makers are probably using their call for 40 billion euros (US$55 billion) of loans from the European Union to develop green vehicles as a lever to enter talks with the regulator regarding CO2 legislation, analysts say.

Mortgage last loan people pay, study finds (San Francisco Chronicle)

Behind the mortgage crisis lurks some consumer behavior that, at first glance at least, seems puzzling. When faced with the possibility of falling behind on home loans, credit card payments or car loans, borrowers are more likely to choose to let their...

Car loan crunch squeezes customers and dealers (Miami Herald)

If your credit is less than perfect, good luck getting a car loan in South Florida. Like mortgages and business loans, car loans and leases have shriveled up as the paralyzed credit market awaits the effects of a $700 billion bailout. Both customers and carmakers are being squeezed, with crippled giants GM and Chrysler discussing a merger.

Bad Credit? Times will be tough to get loans (FOX 10 Phoenix)

If you don't have amazing credit, it's going to difficult to get almost any type of loan. From education to a new car loan, times are tough. FOX 10's Jayme King and Alexis Vance report.

GM Accepts Loan Package; Building New Plant in Flint (Washington Post)

FLINT, Mich., Sept. 25 -- General Motors CEO G. Richard Wagoner Jr. said Thursday that the automaker should be able to put to good use its portion of a $25 billion government loan package for new technology.

Democrats want pay limits, loan aid in bailout (San Francisco Chronicle)

Judges could rewrite mortgages to lower bankrupt homeowners' monthly payments as part of changes congressional Democrats are seeking in the Bush administration's propoed $700 billion financial system bailout. Also, companies that unloaded their bad assets on...

Car buyers looking for loans It's not as easy to get financing for vehicles in the current financial crisis, but it's ... (Yakima Herald-Republic)

Yakima Valley residents who want to purchase a new or used car will be able finance their purchase if they have a decent credit record. Make that a great credit record and a decent down payment.

Getting a loan is harder, but it's not impossible (KETK 56 Tyler)

EAST TEXAS-Many East Texans are now trying to save instead of spend. But for those who do spend, sometimes taking out a loan can help cover the bill. But is being approved for a loan harder now than it was before the economy took a nosedive?

El Pasoans still getting car loans, mortgages (El Paso Times)

EL PASO -- The national credit crisis that may be keeping people from obtaining car loans and mortgage loans is not affecting El Paso, in part because the city's real estate market remains healthy, and because locally owned credit unions are not tied to Wall Street.

Regions cancels auto dealer loan program (Knoxville News Sentinel)

A bank with a large presence in East Tennessee has stopped outsourcing its auto loan process to car dealers. Birmingham, Ala.-based Regions Financial Corp. has eliminated loan programs offered to at least 2,600 dealerships across the nation, in which dealerships pre-authorized loans from the bank, according to published reports.

Car Goes Off the Road & Into Barn; Ignites Fire (R News)

A car accident led to a fire in a large Mendon barn early Friday morning. Firefighters say a woman was driving her car south on route 65 when she lost control at a curve. The car went off the road and in a barn. The impact ignited a fire inside the barn.

Time May Be Running Out for Car Loans (WROC Rochester)

If you're thinking about buying a car, or have applied within the last 60 to 90 days for a car loan, you need to make a decision now. Credit experts say those loans could vanish at any moment.

ECONOMY ON EDGE: Car loan fears clobber U.S. auto stocks (Detroit Free Press)

U.S. auto stocks sank to historic lows Wednesday, as investor fears about credit availability and the weakening global economy combined to produce a stunning sell-off of Ford Motor Co., General Motors Corp. and dozens of other auto stocks.

Asking Questions: Can I Still Get A Car Loan? (CBS 13 Sacramento)

Getting a loan for most of us is more difficult now compared to just a few weeks ago. Car dealerships say it could be tough to get a car loan unless you have the right credit.

Car loan fears clobber U.S. auto stocks (Detroit Free Press)

U.S. auto stocks sank to historic lows Wednesday, as investor fears about credit availability and the weakening global economy combined to produce a stunning sell-off of Ford Motor Co., General Motors Corp. and dozens of other auto stocks.

Loose Change: Don't get overloaded with car debt (Fort Worth Star-Telegram)

Auto repossessions are at a 10-year high, and many Americans are struggling to keep up a car loan they may not be able to afford. Dara Duguay, director of Citi’s Office of Financial Education, offers this advice to help consumers maneuver the car-buying experience:

PRESS RELEASE: Fitch On European RV Sales In Auto Industry (Nasdaq)

Fitch Ratings-London/Paris/Frankfurt-08 October 2008: Fitch Ratings say residual value (RV) risk in European auto loan and lease transactions may be impacted by adverse developments in the auto industry, such as higher fuel prices and falling car sales.

Why car title loans are a bad idea (CNN)

Cash advances are not a new concept in America's brand of capitalism. Many people have seen the commercials with some guy barking out, "Bad credit, no credit, no problem!" Or, "Don't worry about credit, I own the bank!"

Small Car Dealers Hurt by Sluggish Economy (WBOC Salisbury)

LEWES , Del.- Normally, Harry Sheing sees 20 to 30 customers a day at his Lewes car dealership. By lunchtime Monday, which is normally his busiest work day, he had only seen one. He has seen car sales drop significantly at his lot over the past six months.

Chrysler plans to sell electric car in 2010 (New York Daily News)

Chrysler said Tuesday it will put an electric car on sale in North America in 2010, revealing that it is neck and neck with GM in the race to put a mass-produced electric vehicle on America's roads.

How to buy a car - even now (CNN Money)

Auto dealers are hungry for customers: Worried consumers are putting off buying big-ticket items, and buyers on the market are finding it harder to get a loan. So if your credit is solid, now is a great time to say, Let's make a deal.

US Auto Loan Delinquencies On The Rise; $25 Billion Past-Due Study (Nasdaq)

DETROIT -(Dow Jones)- Auto loan delinquencies are on the rise as cash-strapped Americans increasingly struggle to repay car and truck loans, according to a study out Monday, the latest sign that the nation's economic woes are bleeding into the automotive finance business.

Credit crisis adds to car dealers' worries (Provo Daily Herald)

NEW YORK -- Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

Auto dealers take a blow as Wall Street loses footing (The Nashua Telegraph)

In his 24 years in the car business, finance manager Cheikh Dieng has never worked this hard. Getting loan approvals for customers with good credit used to be so easy, Dieng barely had to call the bank before drafting the paperwork. ... - By ASHLEY SMITH and KAREN LOVETT Staff Writers

George Monbiot: Green subsidy for car makers is disguised corporate bail-out (Guardian Unlimited)

While all eyes were fixed on the banking bail-out, a bucketload of public money was quietly sloshed into the pockets of another undeserving cause. Last week, George Bush agreed to lend $25bn to US car manufacturers. It's a soft loan, which will cost the government $7.5bn. Few people noticed; fewer fought it. The House of Representatives approved the measure by 370 votes to 58. The great ...

Financing puts brakes on car dealers (Chicago Tribune)

NEW YORK (AP) _ Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

Credit-worthy borrowers OK (New Haven Register)

Good job, good credit, no problem! Despite weeks of incessantly negative news about the nation’s economy, stock prices jerking violently up and down and lenders seeming to have gone into hiding, consumers who want to buy a car or a house should be able to get a loan, as long as they have a job and a good credit score, say those whose livelihood depends on a vibrant credit market.

Rising finance costs threaten to put the brakes on car dealers struggling to stay profitable (Minneapolis-St. Paul Star Tribune)

NEW YORK - Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan.

Credit crisis adds to pressures on auto dealers (Lexington Herald-Leader)

Hundreds of thousands of new cars and trucks that would have quickly made their way to people's driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they'll keep their jobs, be able to pay for gas, or qualify for a car loan. For auto dealers already suffering under the worst U.S. sales downturn in 15 years, the increasing cost ...

Student, car debt quietly added to bailout plan (The Washington Times)

In the dark of a night when most people were snoozing, the Treasury dramatically expanded its bailout plan to include buying student loans, car loans, credit card debt and any other "troubled" assets held by banks.

Credit squeeze hits car sales (New Kerala)

By Varada Bhat, Mumbai, Oct 5: Retail car sales by the Indian automobile industry have been hit hard by the squeeze on retail financing as banks have stopped hardselling car loans in the current economic climate, say auto industry representatives.

GM unveils Volt electric car (Autonet.ca)

General Motors Corp. chairman and CEO Rick Wagoner unveiled the automaker's long-awaited electric car Tuesday and said turmoil in financial markets should not affect government loan guarantees that would help the auto industry develop high-tech vehicles.

Tight Credit Crimps New Car Sales (Channel 8 San Diego)

Stocks are bouncing back after an historic slide, but the credit markets are still suffering. That's making it hard for anyone shopping for a new car to secure a loan. Stricter borrowing rules are affecting local dealerships.

In Hard Times, Higher-End Items Get Pawned (NPR)

Business is up at the Silver Lining Jewelry and Loan in Portland, Ore. Customers are selling everything from jewelry to television sets. The Oregonian newspaper reports that a woman even pawned her diamond wedding ring to help pay for gas and car parts.

Credit crisis adds to pressures on car dealers (Bradenton Herald)

NEW YORK â€" Hundreds of thousands of new cars and trucks that would have quickly made their way to people’s driveways a year ago are now stacking up on dealer lots across the country, with potential buyers worried about whether they’ll keep their jobs, be able to pay for gas, or qualify for a car loan.

Credit Crunch Makes Securing A Car Loan Tough (Channel 8 San Diego)

Stocks are bouncing back after an historic slide, but the credit markets are still suffering. That's making it hard for anyone shopping for a new car to secure a loan. Stricter borrowing rules are affecting local dealerships.

Credit Crunch Hitting Car Dealers, Car Buyers (KLAS Las Vegas)

The financial crisis is hitting lenders hard and making it difficult for buyers to be approved for a loan, especially when it comes to cars. Denied loans mean fewer car sales even though there are some good deals.

Analysts say auto industry loans must come quickly (AP via Yahoo! Finance)

If credit remains locked up and auto sales continue to slump, the federal government's $25 billion loan package for the auto industry could be a huge help in keeping Detroit's downtrodden automakers afloat, according to lawmakers and industry analysts.

Arizona, Ohio payday loan battleground states (Tucson Citizen)

COLUMBUS, Ohio â€" The payday loan industry is bankrolling ballot issue campaigns in Ohio and Arizona to preserve the average 391 percent annual interest rates they charge, as the two states become the focus of industry watchers and consumer advocates.

Credit crisis: Car dealers squeezed from all sides (CNNMoney.com via Yahoo! Finance)

If you want to see how America's credit crisis is hitting the streets of your hometown, go to your local car dealer. Auto dealers depend on credit. They need it to run their stores and their customers need it to buy their products.

Car loans hard to come by, forcing used car salesman to make adjustments (49 ABC News Topeka)

The credit crunch is halting loans, putting a dent in U.S. car sales. Last month, sales dropped nearly 27%. 49 News Reporter Marshanna Hester explains what one used car salesman is doing to fight the financial crisis and what you can do if you're in the market for a car loan.

Wilson: Loan plan necessary (The Times Leader)

U.S. REP. Charlie Wilson (D-18th) was in Bridgeport Wednesday, explaining his stance on the latest proposal to loan hundreds of billions of dollars to financial institutions, saying the loans are necessary to keep small businesses open and to keep lines of credit available for consumers.

Credit mess may dent car-loan hopes (Akron Beacon Journal)

The credit crunch that's rocked stock markets can affect your ability to get a car loan and what you pay. Auto dealers say loans are tougher to get, but are still available. They also say the leasing business that began changing a year ago is still suffering.

Car dealers face the grim reaper (CNN Money)

If you want to see how America's credit crisis is hitting the streets of your hometown, go to your local car dealer. Auto dealers depend on credit. They need it to run their stores and their customers need it to buy their products. From every angle, credit trouble hurts.

First Cash ends used-car venture (Fort Worth Star-Telegram)

By JIM FUQUAY First Cash Financial Services of Arlington said Tuesday that it will end a two-year venture into the used-car sales and finance business, a move that will produce an after-tax write-down of $52.5 million in the third quarter just ended. First Cash, whose principal business is its chain of more than 500 pawnshops and consumer lending stores, had previously reported that its Auto ...

The Difference Between a Loan and a Bailout (Blogcritics.org)

There's a huge difference between a loan and a bailout. Drowned out by the din of Beltway big shots and Wall Street haggling over their financial package this weekend, Congress managed do something constructive. They passed a $25 billion loan package to the Big Three on Saturday. The automakers are going to use the money to retool existing factories for the production of fuel efficient ...

(AFX UK Focus) 2008-10-01 12:27 UPDATE 1-French Sept new car sales up 8.4 pct (Interactive Investor)

PARIS, Oct 1 (Reuters) - French new passenger car sales rose 8.4 percent in September over the same month last year for rise of 3.4 percent in the first nine months of the year, defying a downturn in the rest of Europe amid consumer tax breaks, carmakers said on Thursday. The rise represents a turnaround after a 7 percent drop in August but still equates to a 1.4 percent fall from September last ...