The Truth About Cars » Finance http://www.thetruthaboutcars.com The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. Sat, 13 Feb 2016 15:37:53 +0000 en-US hourly 1 http://wordpress.org/?v=4.2.4 The Truth About Cars is dedicated to providing candid, unbiased automobile reviews and the latest in auto industry news. The Truth About Cars no The Truth About Cars editors@ttac.com editors@ttac.com (The Truth About Cars) 2006-2009 The Truth About Cars The Truth About Cars » Finance http://www.thetruthaboutcars.com/wp-content/themes/ttac-theme/images/logo.gif http://www.thetruthaboutcars.com Analyst: Tesla and FCA Wouldn’t Weather ‘Mild Recession’ http://www.thetruthaboutcars.com/2016/01/analyst-tesla-and-fca-wouldnt-weather-mild-recession/ http://www.thetruthaboutcars.com/2016/01/analyst-tesla-and-fca-wouldnt-weather-mild-recession/#comments Sun, 03 Jan 2016 17:00:30 +0000 http://www.thetruthaboutcars.com/?p=1256369 Business Insider transportation editor Matthew DeBord (formerly of Jalopnik too) said Tesla and Fiat Chrysler’s stock show both companies’ susceptibility to market volatility and that each automaker could be in dire situations if a mild recession were to rear its head again. (Although he does note that the best return on an investment this time last […]

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Business Insider transportation editor Matthew DeBord (formerly of Jalopnik too) said Tesla and Fiat Chrysler’s stock show both companies’ susceptibility to market volatility and that each automaker could be in dire situations if a mild recession were to rear its head again. (Although he does note that the best return on an investment this time last […]

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Volkswagen To Post First Quarterly Loss in 15 Years http://www.thetruthaboutcars.com/2015/10/volkswagen-post-first-quarterly-loss-15-years/ http://www.thetruthaboutcars.com/2015/10/volkswagen-post-first-quarterly-loss-15-years/#comments Tue, 27 Oct 2015 16:00:50 +0000 http://www.thetruthaboutcars.com/?p=1205441 Volkswagen will post Wednesday its first quarterly loss in 15 years after the automaker was rocked this summer with a scandal that affected 11 million vehicles and cost the company tens of billions of dollars in lost value already. Bloomberg (via Automotive News) reported that 10 analysts estimated that the company would post a $3.6 billion loss […]

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Volkswagen will post Wednesday its first quarterly loss in 15 years after the automaker was rocked this summer with a scandal that affected 11 million vehicles and cost the company tens of billions of dollars in lost value already. Bloomberg (via Automotive News) reported that 10 analysts estimated that the company would post a $3.6 billion loss […]

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Just How Bad Are the Automakers Taking a Beating in the Stock Market? http://www.thetruthaboutcars.com/2015/08/just-bad-automakers-taking-beating-market/ http://www.thetruthaboutcars.com/2015/08/just-bad-automakers-taking-beating-market/#comments Mon, 24 Aug 2015 17:00:47 +0000 http://www.thetruthaboutcars.com/?p=1151441 Markets around the world are down, down, down, down and down. At the time of this writing, the Dow Jones Industrial Average is down roughly 650 points on Monday, which is more than 1,500 points off of where we were at the beginning of August. A lot of the run is fueled by fears that China […]

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Markets around the world are down, down, down, down and down. At the time of this writing, the Dow Jones Industrial Average is down roughly 650 points on Monday, which is more than 1,500 points off of where we were at the beginning of August. A lot of the run is fueled by fears that China […]

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Tesla’s Second Stock Sale Nets $738M for Automaker http://www.thetruthaboutcars.com/2015/08/teslas-second-stock-sale-nets-738m-automaker/ http://www.thetruthaboutcars.com/2015/08/teslas-second-stock-sale-nets-738m-automaker/#comments Thu, 20 Aug 2015 20:00:10 +0000 http://www.thetruthaboutcars.com/?p=1148929 Tesla’s second stock offering netted the automaker $738 million in cash for its Gigafactory, Model 3 development, and dealer and service upgrades, Bloomberg is reporting. Banks exercised their options to buy more stock than the initial $500 million estimate, with underwriters Morgan Stanley and Goldman Sachs buying more than 2 million of the available 3.1 […]

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Tesla’s second stock offering netted the automaker $738 million in cash for its Gigafactory, Model 3 development, and dealer and service upgrades, Bloomberg is reporting. Banks exercised their options to buy more stock than the initial $500 million estimate, with underwriters Morgan Stanley and Goldman Sachs buying more than 2 million of the available 3.1 […]

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Wells Fargo Places Cap On Subprime Loans http://www.thetruthaboutcars.com/2015/03/wells-fargo-places-cap-subprime-loans/ http://www.thetruthaboutcars.com/2015/03/wells-fargo-places-cap-subprime-loans/#comments Mon, 02 Mar 2015 15:19:22 +0000 http://www.thetruthaboutcars.com/?p=1010450 Wells Fargo will rein in its subprime lending business, limiting subprime car loans to 10 percent of auto loans it originates. According to the New York Times, the move comes amid concerns that the market for subprime car loans is expanding too quickly. While the paper’s Dealbook section notes that Wells Fargo has a strong reputation […]

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Wells Fargo will rein in its subprime lending business, limiting subprime car loans to 10 percent of auto loans it originates. According to the New York Times, the move comes amid concerns that the market for subprime car loans is expanding too quickly. While the paper’s Dealbook section notes that Wells Fargo has a strong reputation […]

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Bark’s Bites: Some Internet Truths Aren’t So True http://www.thetruthaboutcars.com/2015/03/barks-bites-internet-truths-arent-true/ http://www.thetruthaboutcars.com/2015/03/barks-bites-internet-truths-arent-true/#comments Mon, 02 Mar 2015 13:45:47 +0000 http://www.thetruthaboutcars.com/?p=1010378 One of the best worst things about the Internet is how many “experts” there are on every single subject under the sun. Among the easiest subjects for anybody to obtain indisputable guru-like status on, based on what I see around the web, is finance. And, boy, do they love to share their expertise, solicited or […]

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One of the best worst things about the Internet is how many “experts” there are on every single subject under the sun. Among the easiest subjects for anybody to obtain indisputable guru-like status on, based on what I see around the web, is finance. And, boy, do they love to share their expertise, solicited or […]

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Subprime Auto Loans Climb to Highest Level Since Financial Crisis http://www.thetruthaboutcars.com/2015/02/subprime-auto-loans-climb-highest-level-since-financial-crisis/ http://www.thetruthaboutcars.com/2015/02/subprime-auto-loans-climb-highest-level-since-financial-crisis/#comments Sat, 21 Feb 2015 07:00:54 +0000 http://www.thetruthaboutcars.com/?p=1004818 Alan Zibel and Annamaria Andriotis of the Wall Street Journal (subscription required) report that consumer loans to borrowers with bad credit, including those for cars and light trucks, are now approaching 40% of loans issued, the highest percentage since the start of the financial crisis in 2007-08. Almost four of every 10 loans for autos, credit […]

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Alan Zibel and Annamaria Andriotis of the Wall Street Journal (subscription required) report that consumer loans to borrowers with bad credit, including those for cars and light trucks, are now approaching 40% of loans issued, the highest percentage since the start of the financial crisis in 2007-08. Almost four of every 10 loans for autos, credit […]

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Equifax Now Reporting On How Rejected Loans Perform http://www.thetruthaboutcars.com/2014/12/equifax-now-reporting-rejected-loans-perform/ http://www.thetruthaboutcars.com/2014/12/equifax-now-reporting-rejected-loans-perform/#comments Tue, 09 Dec 2014 22:59:13 +0000 http://www.thetruthaboutcars.com/?p=957458   Credit Unions will now be able to follow up with applicants who were unable to procure loans, and see if they pursued credit at other institutions, thanks to a new service from Equifax. The new Lost Sales Analysis tool is designed to show credit unions which borrowers received loans from other institutions, and how […]

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  Credit Unions will now be able to follow up with applicants who were unable to procure loans, and see if they pursued credit at other institutions, thanks to a new service from Equifax. The new Lost Sales Analysis tool is designed to show credit unions which borrowers received loans from other institutions, and how […]

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Chart Of The Day: 8 Years A Slave http://www.thetruthaboutcars.com/2014/10/chart-day-8-years-slave/ http://www.thetruthaboutcars.com/2014/10/chart-day-8-years-slave/#comments Fri, 24 Oct 2014 17:28:55 +0000 http://www.thetruthaboutcars.com/?p=935786 Today’s Chart comes from J.D. Power, showing the growth of long term loans in the Canadian car market. While 96 month loans are just starting to hit American consumers, the 8 year loan terms have been present in the Great White North for some time. A friend was recently looking at a modestly equipped Big […]

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Today’s Chart comes from J.D. Power, showing the growth of long term loans in the Canadian car market. While 96 month loans are just starting to hit American consumers, the 8 year loan terms have been present in the Great White North for some time. A friend was recently looking at a modestly equipped Big […]

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In for the long haul? http://www.thetruthaboutcars.com/2014/10/long-haul/ http://www.thetruthaboutcars.com/2014/10/long-haul/#comments Fri, 03 Oct 2014 13:50:42 +0000 http://www.thetruthaboutcars.com/?p=921833 ZF Friedrichshafen is buying TRW; JCI sold its automotive business to Gentex and Visteon. Are we in a new era of supplier M&A activity? The previous wave didn’t work out well – Dana, Tower, Dura, Lear and others ended up in Chapter 11. So how about Federal-Mogul? They too went on an acquisition binge in […]

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ZF Friedrichshafen is buying TRW; JCI sold its automotive business to Gentex and Visteon. Are we in a new era of supplier M&A activity? The previous wave didn’t work out well – Dana, Tower, Dura, Lear and others ended up in Chapter 11. So how about Federal-Mogul? They too went on an acquisition binge in […]

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Captives To Face CFPB Oversight http://www.thetruthaboutcars.com/2014/09/captives-face-cfpb-oversight/ http://www.thetruthaboutcars.com/2014/09/captives-face-cfpb-oversight/#comments Thu, 18 Sep 2014 18:06:16 +0000 http://www.thetruthaboutcars.com/?p=914466 New rules being announced by the Consumer Financial Protection Bureau would mean that the captive finance arms would be subject to oversight from the CFPB. Automotive News reports that the CFPB will now have jurisdiction over “nonbank lenders” that  “make, acquire, or refinance 10,000 or more loans or leases in a year.” This rule would encompass […]

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New rules being announced by the Consumer Financial Protection Bureau would mean that the captive finance arms would be subject to oversight from the CFPB. Automotive News reports that the CFPB will now have jurisdiction over “nonbank lenders” that  “make, acquire, or refinance 10,000 or more loans or leases in a year.” This rule would encompass […]

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Santander Consumer Receives DOJ Subpoena http://www.thetruthaboutcars.com/2014/08/886161/ http://www.thetruthaboutcars.com/2014/08/886161/#comments Sat, 09 Aug 2014 15:35:40 +0000 http://www.thetruthaboutcars.com/?p=886161 Following GM Financial’s subpoena from the Department of Justice, Santander Consumer said that it had received a subpoena as well related to “production of documents and communications that, among other things relate to the underwriting and securitization of nonprime auto loans since 2007,”   Reuters is reporting that Santander Consumer is co-operating with the requests. […]

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Following GM Financial’s subpoena from the Department of Justice, Santander Consumer said that it had received a subpoena as well related to “production of documents and communications that, among other things relate to the underwriting and securitization of nonprime auto loans since 2007,”   Reuters is reporting that Santander Consumer is co-operating with the requests. […]

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A Contrarian View Of Subprime Auto Loans http://www.thetruthaboutcars.com/2014/08/contrarian-view-subprime-auto-loans/ http://www.thetruthaboutcars.com/2014/08/contrarian-view-subprime-auto-loans/#comments Thu, 07 Aug 2014 14:53:35 +0000 http://www.thetruthaboutcars.com/?p=883713 The topic of subprime auto loans has been a hotly contested one at TTAC, with numerous commenters defending both the practice and the stability of recent run-up in subprime lending. Over at the Autos and Economics blog (operated by contributor Mike Smitka), David Ruggles (better known as “ruggles” around here) provides a well-reasoned defense of subprime lending, […]

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The topic of subprime auto loans has been a hotly contested one at TTAC, with numerous commenters defending both the practice and the stability of recent run-up in subprime lending. Over at the Autos and Economics blog (operated by contributor Mike Smitka), David Ruggles (better known as “ruggles” around here) provides a well-reasoned defense of subprime lending, […]

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Outstanding Subprime Loan Balances Hit 8-Year Highs http://www.thetruthaboutcars.com/2014/07/outstanding-subprime-loan-balances-hit-8-year-highs/ http://www.thetruthaboutcars.com/2014/07/outstanding-subprime-loan-balances-hit-8-year-highs/#comments Fri, 25 Jul 2014 14:24:55 +0000 http://www.thetruthaboutcars.com/?p=873226 Buried in a feel good story about auto loans comes the news that subprime auto loans are at levels that we haven’t seen in nearly a decade. Citing data from Equifax, Automotive News reports The credit bureau also noted originations and total outstanding balances for subprime auto loans — defined as loans to customers with credit scores […]

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Buried in a feel good story about auto loans comes the news that subprime auto loans are at levels that we haven’t seen in nearly a decade. Citing data from Equifax, Automotive News reports The credit bureau also noted originations and total outstanding balances for subprime auto loans — defined as loans to customers with credit scores […]

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OCC Warns Of Auto Lending Risk http://www.thetruthaboutcars.com/2014/07/occ-warns-of-auto-lending-risk/ http://www.thetruthaboutcars.com/2014/07/occ-warns-of-auto-lending-risk/#comments Thu, 03 Jul 2014 14:48:24 +0000 http://www.thetruthaboutcars.com/?p=858137 The Office of the Comptroller of the Currency, a government entity that regulates and supervises banks, is sounding the alarm regarding risks related to auto loans. In its semi-annual report released earlier this week, the OCC warned about the usual factors that TTAC has been discussing for some time: rising loan terms, an increased focus on […]

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The Office of the Comptroller of the Currency, a government entity that regulates and supervises banks, is sounding the alarm regarding risks related to auto loans. In its semi-annual report released earlier this week, the OCC warned about the usual factors that TTAC has been discussing for some time: rising loan terms, an increased focus on […]

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Chevrolet Offers 14.7% APR Financing To “Well Qualified” Corvette Buyers http://www.thetruthaboutcars.com/2014/06/chevrolet-offers-14-7-apr-financing-to-well-qualified-corvette-buyers/ http://www.thetruthaboutcars.com/2014/06/chevrolet-offers-14-7-apr-financing-to-well-qualified-corvette-buyers/#comments Fri, 27 Jun 2014 10:40:41 +0000 http://www.thetruthaboutcars.com/?p=853809 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 […]

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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 […]

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Tesla Is World’s Most Important Auto Maker, Says Tesla Debt Underwriter http://www.thetruthaboutcars.com/2014/06/tesla-is-worlds-most-important-auto-maker-says-tesla-debt-underwriter/ http://www.thetruthaboutcars.com/2014/06/tesla-is-worlds-most-important-auto-maker-says-tesla-debt-underwriter/#comments Mon, 23 Jun 2014 11:00:59 +0000 http://www.thetruthaboutcars.com/?p=849946 A recent research note from Morgan Stanley dubbed Tesla the “world’s most important auto maker”, on account of its innovation in the area of electric vehicles, autonomous cars and connectivity. Could there be another reason for such enthusiasm? Observers will remember that earlier this year, Morgan Stanley raised its share price for Tesla to $320 […]

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A recent research note from Morgan Stanley dubbed Tesla the “world’s most important auto maker”, on account of its innovation in the area of electric vehicles, autonomous cars and connectivity. Could there be another reason for such enthusiasm? Observers will remember that earlier this year, Morgan Stanley raised its share price for Tesla to $320 […]

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Captives Dominating Auto Financing As Banks Resort To Risky Loans http://www.thetruthaboutcars.com/2014/06/captives-dominating-auto-financing-as-banks-resort-to-risky-loans/ http://www.thetruthaboutcars.com/2014/06/captives-dominating-auto-financing-as-banks-resort-to-risky-loans/#comments Thu, 19 Jun 2014 15:27:47 +0000 http://www.thetruthaboutcars.com/?p=846961 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. Citing data from credit agency Experian, Reuters reports that the captive arms of Ford, Honda and Toyota made up half of all new car loans in […]

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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. Citing data from credit agency Experian, Reuters reports that the captive arms of Ford, Honda and Toyota made up half of all new car loans in […]

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Loan Terms, Monthly Payments Hit Record Highs In 2014 http://www.thetruthaboutcars.com/2014/06/loan-terms-monthly-payments-hit-record-highs-in-2014/ http://www.thetruthaboutcars.com/2014/06/loan-terms-monthly-payments-hit-record-highs-in-2014/#comments Mon, 02 Jun 2014 17:05:57 +0000 http://www.thetruthaboutcars.com/?p=835833 The easy-credit train keeps on rolling in the auto world, with credit rating agency Experian reporting new records in key auto finance metrics. Loan terms for new vehicles stretched to 66 months in Q1 2014, up from 65 months a year earlier. Loan terms for used cars grew up 61 months on average, up from […]

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The easy-credit train keeps on rolling in the auto world, with credit rating agency Experian reporting new records in key auto finance metrics. Loan terms for new vehicles stretched to 66 months in Q1 2014, up from 65 months a year earlier. Loan terms for used cars grew up 61 months on average, up from […]

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No Credit Score? Show Your Cable Bill, Get Approved http://www.thetruthaboutcars.com/2014/05/no-credit-score-show-your-cable-bill-get-approved/ http://www.thetruthaboutcars.com/2014/05/no-credit-score-show-your-cable-bill-get-approved/#comments Wed, 14 May 2014 11:15:37 +0000 http://www.thetruthaboutcars.com/?p=819906 New technology is allowing buyers with no credit score – due to a lack of credit history or a personal bankruptcy – to get vehicle financing via examination of documents like the payment history of their cable or cell phone bill. Automotive News reports that companies like Equifax can provide information for customers who have been […]

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New technology is allowing buyers with no credit score – due to a lack of credit history or a personal bankruptcy – to get vehicle financing via examination of documents like the payment history of their cable or cell phone bill. Automotive News reports that companies like Equifax can provide information for customers who have been […]

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Tesla Follows The Money, Launches Financing Arm http://www.thetruthaboutcars.com/2014/04/tesla-follows-the-money-launches-financing-arm/ http://www.thetruthaboutcars.com/2014/04/tesla-follows-the-money-launches-financing-arm/#comments Tue, 08 Apr 2014 17:29:12 +0000 http://www.thetruthaboutcars.com/?p=790385 After setting up a retail lease program, Tesla is now moving closer towards a full-fledged captive financing arm, by launching a financing unit for corporate leases. According to a statement released by Tesla, The Tesla business lease is available through Tesla Finance, a subsidiary we’ve set up especially to offer this new product to business […]

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After setting up a retail lease program, Tesla is now moving closer towards a full-fledged captive financing arm, by launching a financing unit for corporate leases. According to a statement released by Tesla, The Tesla business lease is available through Tesla Finance, a subsidiary we’ve set up especially to offer this new product to business […]

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Tesla’s Latest Filing: The Good, The Bad And The EPS http://www.thetruthaboutcars.com/2014/02/teslas-latest-filing-the-good-the-bad-and-the-eps/ http://www.thetruthaboutcars.com/2014/02/teslas-latest-filing-the-good-the-bad-and-the-eps/#comments Thu, 27 Feb 2014 12:00:18 +0000 http://www.thetruthaboutcars.com/?p=755881 Tesla’s shares roared to over $250 on Tuesday February 5th, amid release of financial results. Tesla’s 8-K regulatory filing highlights a record 6,892 Model S’s sold, non-GAAP earnings of $46M ($0.33 on a per share basis), and projected vehicle delivery growth of 55% among others. The shares are currently trading just above the $260 during […]

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Tesla’s shares roared to over $250 on Tuesday February 5th, amid release of financial results. Tesla’s 8-K regulatory filing highlights a record 6,892 Model S’s sold, non-GAAP earnings of $46M ($0.33 on a per share basis), and projected vehicle delivery growth of 55% among others. The shares are currently trading just above the $260 during […]

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In $4.35 Billion Deal, Fiat Will Acquire Rest of Chrysler from UAW Retiree Health Care Trust http://www.thetruthaboutcars.com/2014/01/in-4-35-billion-deal-fiat-will-acquire-rest-of-chrysler-from-uaw-retiree-health-care-trust/ http://www.thetruthaboutcars.com/2014/01/in-4-35-billion-deal-fiat-will-acquire-rest-of-chrysler-from-uaw-retiree-health-care-trust/#comments Thu, 02 Jan 2014 11:00:41 +0000 http://www.thetruthaboutcars.com/?p=691066 Fiat SpA said on Wednesday that it has signed an agreement to buy the remaining 41.5% stake in Chrysler that it does not own from the United Auto Worker’s retiree health-care trust, known as VEBA, for $3.65 billion in cash up front and another $700 million after the deal is completed. The agreement will allow […]

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Fiat SpA said on Wednesday that it has signed an agreement to buy the remaining 41.5% stake in Chrysler that it does not own from the United Auto Worker’s retiree health-care trust, known as VEBA, for $3.65 billion in cash up front and another $700 million after the deal is completed. The agreement will allow […]

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Hammer Time: Financial Hypnosis On A Per Mile Basis http://www.thetruthaboutcars.com/2013/12/hammer-time-financial-hypnosis-on-a-per-mile-basis/ http://www.thetruthaboutcars.com/2013/12/hammer-time-financial-hypnosis-on-a-per-mile-basis/#comments Tue, 10 Dec 2013 17:16:15 +0000 http://www.thetruthaboutcars.com/?p=676282 The three year lease. It entrances and traps the most spellbound car aficionados into a monthly payment that keeps them at the altar of the car payment. Is that a bad thing? Well, depends on the way you want to look at it. What can’t be argued is that both sides get what they want, […]

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The three year lease. It entrances and traps the most spellbound car aficionados into a monthly payment that keeps them at the altar of the car payment. Is that a bad thing? Well, depends on the way you want to look at it. What can’t be argued is that both sides get what they want, […]

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The Continuing Saga Of The Consumer Financial Protection Bureau And Dealer Interest Rate Markup On Car Loans http://www.thetruthaboutcars.com/2013/12/the-continuing-saga-of-the-consumer-financial-protection-bureau-and-dealer-interest-rate-markup-on-car-loans/ http://www.thetruthaboutcars.com/2013/12/the-continuing-saga-of-the-consumer-financial-protection-bureau-and-dealer-interest-rate-markup-on-car-loans/#comments Wed, 04 Dec 2013 14:00:09 +0000 http://www.thetruthaboutcars.com/?p=669042 It is no surprise that U.S. automobile dealers have been in a tizzy the past few months as the Consumer Financial Protection Bureau (CFPB) has been rattling its swords threatening to ban them from marking up interest rates on car loans, a sacred profit center for dealerships. Using methodology that assumes a person’s race can […]

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It is no surprise that U.S. automobile dealers have been in a tizzy the past few months as the Consumer Financial Protection Bureau (CFPB) has been rattling its swords threatening to ban them from marking up interest rates on car loans, a sacred profit center for dealerships. Using methodology that assumes a person’s race can […]

The post The Continuing Saga Of The Consumer Financial Protection Bureau And Dealer Interest Rate Markup On Car Loans appeared first on The Truth About Cars.

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