Category: High Finance

By on October 16, 2014

2009 Chevrolet Cobalt Kia Store

General Motors twice experienced the business end of a leather glove Wednesday, when over 20 million consumers demanded satisfaction via two lawsuits totalling $10 billion in claims over lost resale value as a result of the February 2014 ignition switch recall.

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By on October 13, 2014

Super GT Panasonic Toyota Prius

Just how much will Panasonic throw down on the table when it comes time to invest in Tesla’s new Gigafactory near Reno, Nev.? According to CEO Kazuhiro Tsuga, “tens of billions” of yen.

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By on October 9, 2014

car salesman battle brigade

According to National Automobile Dealers Association chair Forrest McConnell, the United States government’s plan to tighten automotive finance regulations amounts to an attempt by said government “to take away the consumer’s right to get a discount.”

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By on October 7, 2014

GM RenCen Garden

The compensation fund created by General Motors to pay claims resulting from injuries and deaths linked to a defective ignition switch found in a handful of 2003 through 2007 compact models has approved a total of 24 death claims for payout.

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By on October 6, 2014

Grand Re-Opening Of Jay-Z's 40/40 Club - Inside

Warren Buffett — no relation to Jimmy — is a lot of things: investor extraordinaire, railroad magnate, newspaper mogul, hip-hop enthusiast et al. As of last Thursday, however, he picked up a new title: master auto dealer.

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By on October 6, 2014

Ameriquest Mortgage NASCAR Nextel Cup Series Ford Fusion

The same subprime lending practices in the mortgage industry that fueled the run-up toward the Great Recession have found a new market to infect: used-car auto lending.

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By on October 1, 2014

DRN LPR Guide

Aside from GPS-equipped starter interrupt systems, lenders have another tool to repossess a vehicle, with the added benefit of using the data obtained to acquire better contracts: license plate recognition.

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By on September 30, 2014

CFPB - Consumer Financial Protection Bureau Sign

The hammer has fallen on captive automotive lenders, such as GM Financial, Ford Motor Credit and Toyota Financial Services: The Consumer Financial Protection Bureau began officially asserting its authority over them as the feds and the lenders battle over allegations of discrimination in the latter’s loan products.

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By on September 29, 2014

National-Electric-Vehicle-Sweden

With the Saab name reclaimed by the mothership, a host of financial problems, and no product beyond a 10-year-old platform, what else is left for National Electric Vehicle Sweden to do? If you said, “Tap out,” then you just might see that hand pounding the mat rather quickly.

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By on September 26, 2014

Isis Panopticon Album Cover

In a perverse nexus where connected-vehicle technology, privacy and subprime lending intersect, consumers who fall behind on so much as a single payment, or even stray outside a given teritory, may find their vehicles shutdown by their lender from a digital panopticon.

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