While perusing Chevy’s website to see if there is any color of the 2014 Corvette that actually makes the car look halfway decent, I came across the financing offer pictured above. And, no, I did not enter any personal info that would lead GM’s captive Ally Financial (or whoever the hell GMAC is now) to deem me only eligible for such a high interest rate. Just what is going on here?
Category: High Finance
In today’s General Motors digest: An ignition-related issue is quietly fixed years before the February 2014 recall; a Chinese supplier is blamed for defective switches recalled in June; Ally prepares to take flight from the Beltway; and Mark Reuss helps bring back a Corvette stolen 33 years ago.
OEM captive financing arms are increasing their share of new car loans, with banks resorting to underwriting riskier loans in the used car market and to less credit-worthy buyers.
For over two decades, the federal fuel tax has held at 18.4 cents for gasoline and 24.4 cents for diesel per gallon sold. A bipartisan bill working through the United States Senate could soon change this, especially as the nation’s Highway Trust Fund — used for funding infrastructure projects — comes closer to running dry by August of this year.
General Motors subsidiary Opel has come to terms on a severance package for workers at its Bochum factory, set to close this year as part of the company’s restructuring plan.
As those inside the Beltway debate how best to fund their responsibility for the nation’s transportation infrastructure, a AAA study finds most Americans would pay more taxes for better roads.
The global outlook for Auto Back Securities (ABS) is steady – except in North America, where underwriting standards and borrower credit are slipping. Read More >
With labor costs set to rise in South Korea, wage negotiations between management and employees inside GM Korea may be “the most critical negotiation” the subsidiary has ever faced.