The Truth About Cars » Ally http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Thu, 28 Apr 2016 20:40:00 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.4 GM Financial Double Crosses Their Ally http://www.thetruthaboutcars.com/2013/05/gm-financial-double-crosses-their-ally/ http://www.thetruthaboutcars.com/2013/05/gm-financial-double-crosses-their-ally/#comments Mon, 13 May 2013 12:30:26 +0000 http://www.thetruthaboutcars.com/?p=488221 Following in the footsteps of Spanish bank Santander, GM Financial announced that it would enter the prime lending market in 2014. SNL Financial, a subscription-only financial news service, reports that General Motors Financial Co Inc officials said on a May 2 conference call that the company plans to launch a prime retail product in North […]

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Following in the footsteps of Spanish bank Santander, GM Financial announced that it would enter the prime lending market in 2014. SNL Financial, a subscription-only financial news service, reports that General Motors Financial Co Inc officials said on a May 2 conference call that the company plans to launch a prime retail product in North […]

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97 Months And Running http://www.thetruthaboutcars.com/2013/04/97-months-and-running/ http://www.thetruthaboutcars.com/2013/04/97-months-and-running/#comments Mon, 15 Apr 2013 11:00:14 +0000 http://www.thetruthaboutcars.com/?p=484814 8 years to pay off a car? A report by the Wall Street Journal claims that in Q4 of 2012, the average car loan stretched out to 65 months, or just over 5 years. Loan terms were being stretched out over increasingly longer terms too, with credit firm Experian reporting that nearly 1 in 5 […]

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8 years to pay off a car? A report by the Wall Street Journal claims that in Q4 of 2012, the average car loan stretched out to 65 months, or just over 5 years. Loan terms were being stretched out over increasingly longer terms too, with credit firm Experian reporting that nearly 1 in 5 […]

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How A New Generation Of Sub-Prime Auto Financing Could Cause Another Catastrophe http://www.thetruthaboutcars.com/2013/04/qe-is-not-just-a-ship-how-a-new-generation-of-sub-prime-auto-financing-could-cause-another-catastrophe/ http://www.thetruthaboutcars.com/2013/04/qe-is-not-just-a-ship-how-a-new-generation-of-sub-prime-auto-financing-could-cause-another-catastrophe/#comments Fri, 05 Apr 2013 14:40:53 +0000 http://www.thetruthaboutcars.com/?p=483661 March was the 5th straight month of a SAAR above 15 million vehicles.  Industry analysts have explained the strength of the market in a number of ways. The need to replace older vehicles is one (new car sales were hit hard during the recession as consumers held on to their vehicles for longer. This also […]

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March was the 5th straight month of a SAAR above 15 million vehicles.  Industry analysts have explained the strength of the market in a number of ways. The need to replace older vehicles is one (new car sales were hit hard during the recession as consumers held on to their vehicles for longer. This also […]

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The Artist Formerly Known As GMAC Comes Back To Mami – Partially http://www.thetruthaboutcars.com/2012/11/the-artist-formerly-known-as-gmac-comes-back-to-mami-partially/ http://www.thetruthaboutcars.com/2012/11/the-artist-formerly-known-as-gmac-comes-back-to-mami-partially/#comments Thu, 22 Nov 2012 15:36:01 +0000 http://www.thetruthaboutcars.com/?p=467707 Bailed-out GM agreed to pay about $4.2 billion for the European and Latin American operations of likewise bailed-out Ally Financial, formerly known as GMAC. Ally, 74 percent owned by the U.S. government, did put the international operations up for sale to raise money for the repayment of bailout funds. The money now comes from GM. […]

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Bailed-out GM agreed to pay about $4.2 billion for the European and Latin American operations of likewise bailed-out Ally Financial, formerly known as GMAC. Ally, 74 percent owned by the U.S. government, did put the international operations up for sale to raise money for the repayment of bailout funds. The money now comes from GM. […]

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Bailed-Out GM Wants To Help Bailed-Out Ally With Some Of Its Bail-Out Money. Investors Not Amused http://www.thetruthaboutcars.com/2012/08/bailed-out-gm-wants-to-help-bailed-out-ally-with-some-of-its-bail-out-money-investors-not-amused/ http://www.thetruthaboutcars.com/2012/08/bailed-out-gm-wants-to-help-bailed-out-ally-with-some-of-its-bail-out-money-investors-not-amused/#comments Fri, 17 Aug 2012 11:18:49 +0000 http://www.thetruthaboutcars.com/?p=457156 Bailed-out GM might sink $2 to $4 billion into likewise bailed-out Ally Financial to buy some of the lender’s international operations. Ally “ironically wants to use the proceeds to help repay its own federal bailout aid,” says Reuters. That plan does not sit too well with some observers. Says the wire: “Analysts and investors disagree […]

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Bailed-out GM might sink $2 to $4 billion into likewise bailed-out Ally Financial to buy some of the lender’s international operations. Ally “ironically wants to use the proceeds to help repay its own federal bailout aid,” says Reuters. That plan does not sit too well with some observers. Says the wire: “Analysts and investors disagree […]

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Guess Who Owned Ally Financial’s ResCap? You Did http://www.thetruthaboutcars.com/2012/05/guess-who-owned-ally-financials-rescap-you-did/ http://www.thetruthaboutcars.com/2012/05/guess-who-owned-ally-financials-rescap-you-did/#comments Mon, 14 May 2012 21:04:43 +0000 http://www.thetruthaboutcars.com/?p=444460 Minutes after Ally Financial, the bs-artist formerly known as GMAC, took its Residential Capital bankrupt, David Shepardson tweeted to his followers that all is fine: “GM owns 9.9% of Ally Financial Inc, while @USTreasuryDept owns 74 percent” Isn’t that reassuring? TTAC readers are not surprised by Ally’s ResCap going under. A bankruptcy by May 14 […]

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Minutes after Ally Financial, the bs-artist formerly known as GMAC, took its Residential Capital bankrupt, David Shepardson tweeted to his followers that all is fine: “GM owns 9.9% of Ally Financial Inc, while @USTreasuryDept owns 74 percent” Isn’t that reassuring? TTAC readers are not surprised by Ally’s ResCap going under. A bankruptcy by May 14 […]

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GM’s Floorplan Banker Could Take Mortgage Arm Bankrupt http://www.thetruthaboutcars.com/2012/05/gms-floorplan-banker-could-take-mortgage-arm-bankrupt/ http://www.thetruthaboutcars.com/2012/05/gms-floorplan-banker-could-take-mortgage-arm-bankrupt/#comments Tue, 08 May 2012 10:35:47 +0000 http://www.thetruthaboutcars.com/?p=443455 There is new trouble brewing in an important part of GM’s business: Ally, the former GMAC. Nearly 75 percent of the credit that GM dealers in the United States use to finance their inventories is from Ally, says a Reuters report. The report also says that Residential Capital (ResCap) – Ally’s mortgage servicing and lending […]

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There is new trouble brewing in an important part of GM’s business: Ally, the former GMAC. Nearly 75 percent of the credit that GM dealers in the United States use to finance their inventories is from Ally, says a Reuters report. The report also says that Residential Capital (ResCap) – Ally’s mortgage servicing and lending […]

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GM’s AmeriCredit Deal: Awaiting Approval http://www.thetruthaboutcars.com/2010/07/gms-americredit-deal-awaiting-approval/ http://www.thetruthaboutcars.com/2010/07/gms-americredit-deal-awaiting-approval/#comments Fri, 23 Jul 2010 17:59:44 +0000 http://www.thetruthaboutcars.com/?p=361460 Now that GM’s acquisition of the subprime lender AmeriCredit has had 24 hours to sink in, howls of protest are starting to surface. The charge is being led by Senator Chuck Grassley, who has requested a review of the deal from the SIGTARP, saying If GM has $3.5 billion in cash to buy a financial […]

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Now that GM’s acquisition of the subprime lender AmeriCredit has had 24 hours to sink in, howls of protest are starting to surface. The charge is being led by Senator Chuck Grassley, who has requested a review of the deal from the SIGTARP, saying If GM has $3.5 billion in cash to buy a financial […]

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GM Captive Finance Push Explained: The General Wants More Subprime Business http://www.thetruthaboutcars.com/2010/05/gm-captive-finance-push-explained-the-general-wants-more-subprime-business/ http://www.thetruthaboutcars.com/2010/05/gm-captive-finance-push-explained-the-general-wants-more-subprime-business/#comments Mon, 17 May 2010 22:56:04 +0000 http://www.thetruthaboutcars.com/?p=356759 When we first heard that GM was eying a return to in-house financing, our first reaction was to worry that the potential for falling back into old bad habits can’t be ignored. Clearly our concern wasn’t wasted, as the AP [via Google] reports that The General’s major motivation for considering re-creating a captive lender is […]

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When we first heard that GM was eying a return to in-house financing, our first reaction was to worry that the potential for falling back into old bad habits can’t be ignored. Clearly our concern wasn’t wasted, as the AP [via Google] reports that The General’s major motivation for considering re-creating a captive lender is […]

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GM And Chrysler Racing Towards Captive Finance? http://www.thetruthaboutcars.com/2010/05/gm-and-chrysler-racing-towards-captive-finance/ http://www.thetruthaboutcars.com/2010/05/gm-and-chrysler-racing-towards-captive-finance/#comments Thu, 13 May 2010 18:25:16 +0000 http://www.thetruthaboutcars.com/?p=356451 News that GM is considering a number of options for a return to captive finance, has lit a fire under Chrysler CEO Sergio Marchionne, who tells the Detroit News that One of the things that we do not wish under any circumstance is to have an uncompetitive relationship vis-À-vis GM That would certainly be the […]

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News that GM is considering a number of options for a return to captive finance, has lit a fire under Chrysler CEO Sergio Marchionne, who tells the Detroit News that One of the things that we do not wish under any circumstance is to have an uncompetitive relationship vis-À-vis GM That would certainly be the […]

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Bailout Watch 579: GMAC To Score $3.5b More http://www.thetruthaboutcars.com/2009/12/bailout-watch-579-gmac-to-score-3-5b-more/ http://www.thetruthaboutcars.com/2009/12/bailout-watch-579-gmac-to-score-3-5b-more/#comments Thu, 31 Dec 2009 16:20:36 +0000 http://www.thetruthaboutcars.com/?p=340452 The underlying cause of GMAC’s failure was no different than so many other American financial institutions: giant bets on risky mortgages at the height of a real estate bubble. And though that error alone would have qualified GMAC for a bailout rescue along with the other failed banks, The WSJ reports that the ongoing support […]

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The underlying cause of GMAC’s failure was no different than so many other American financial institutions: giant bets on risky mortgages at the height of a real estate bubble. And though that error alone would have qualified GMAC for a bailout rescue along with the other failed banks, The WSJ reports that the ongoing support […]

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